Saudi Arabia Omega 3 Market to Grow Substantially and Reach worth USD 106.9 Million by 2026
Published | August 2020
According to BlueWeave Consulting, the Saudi Arabia Omega 3 Market size is expected to reach USD 106.9 million by 2026 from USD 60 million at a CAGR of 8.6% during the projection period 2020-2026. Rising demand for the marine-based Omega 3 because of its health benefits and their growing awareness drives the market for Omega 3 fatty acids. Fish and Krill oil has received acceptance among consumers besides seafood due to its rich Omega 3 content and easy accessibility. Also, increasing consumption of Omega 3 in the form of fortified food products, such as fish ham and fish sausages, is expected to propel the market growth. Furthermore, growing awareness about high triglyceride levels triggered heart diseases, and recommendation of health experts are expected to push the demand for omega 3-fortified foods.
The growing Omega-3 deficiency among the citizens in Saudi Arabia and its awareness has induced the demand for Omega-3-based products. The ω-3 fatty acids and n-3 fatty acids containing products contribute considerably to the omega-three fatty acids market size. Fish oil omega-3 market has evolved with more refined procurement and delivery process, providing sustainability to the industry. However, stringent entry barriers and high costs may obstruct market development. Besides, the omega-3 fish oil market also faces competition from low-cost substitutes such as soy products, vegetable oil, nuts, and seeds.
Omega-3 constituents are vital for brain development and offer various health benefits in diabetes and heart diseases. They are progressively used in nutritional supplements, functional foods & beverages, pharmaceuticals, pet food and feed, infant formula. Omega 3 Products Market is typically segmented based on Product Type (Eicosapentaenoic Acid (EPA) and Docosahexaenoic Acid (DHA), Alpha-linoleic acid (ALA)), Application (Dietary Supplements, Functional Foods & Beverages, Pharmaceuticals, Infant Formula, and Pet Food & Feed) and Source (Marine and Plant).
"The Key Drivers of the Omega 3 market are Extensive application of Omega 3 in the Dietary supplements industry and Prevalence of Diseases."
Dietary supplements are projected to emerge as the leading market segment due to their high demand in the fast-paced and busy lifestyles. Customers prefer regular intake of dietary supplements to ensure optimum absorption of Omega-3 supplements in the body to advance the health and presentation, particularly of athletes.
Unhealthy lifestyles and nutrients deficiency have led to diverse diseases among people. The health-conscious people focus on consuming the required nutrients such as Omega 3 fatty acids from fortified food or dietary supplements to prevent diseases. Omega 3 fatty acids help reduce triglycerides up to 50 %, which consequently prevents heart disease and diabetes. Omega 3 rich fish oil improves hormonal balance and male & female fertility.
Despite extensive scientific research on Omega 3 fatty acids, there is no clarity regarding its standard daily intake for different age-groups. The misconception leads to restriction on its consumption by people. Non-standard doses do not bring the intended health benefits.
“The leading players” in the Saudi Arabia Omega 3 Market are Universal Nutrition Fish Oil, Nutrakey Fish Oil, Triple Omega, MuscleTech Essential, JYM Omega other Prominent Players are expanding their presence in the market. These players extensively used innovative technologies to increase their productivity and meet the consumer demand for value-added omega-3 products in the region.
The in-depth analysis of the report provides the growth potential, upcoming trends, and statistics of the Saudi Arabia Omega 3 Market size & forecast. The report promises to provide actionable insights of Saudi Arabia Omega 3 Market makers to make sound strategic and operational decisions. Furthermore, the report also analyzes the market drivers, challenges, and competitive dynamics.
BlueWeave Consulting is a one-stop solution for market intelligence (MI) requirements regarding various products and services online & offline. We offer comprehensive market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solution. BWC has built its reputation from the scratches by delivering quality performance and nourishing the long-lasting relationships with its clients. We strive to make your business endeavors successful by providing valuable and timely inputs with our digital MI solutions.