Report Overview

Saudi Arabia Omega 3 Market – Market Outlook & Trends 

The Saudi Arabia Omega 3 Market is estimated at USD 60 million in 2019 and, it is anticipated to grow at a CAGR of 8.6% and reach USD 106.9 million by 2026. The penetration of Omega 3 in The Active Pharmaceutical Ingredient (API) market determines the industry growth. Growing awareness regarding prolonged diseases and practices supporting the usage of omega 3 in infant formula expands the scope of Omega 3 usage, contributing to the Saudi Arabia Omega-3 market. The ω-3 fatty acids market and n-3 fatty acids market sections contribute considerably to the omega-three fatty acids market size. 

Citizens have become more aware of the benefits of Omega 3 fatty acids and their presence in fish oil. Moreover, health clubs and fitness specialists recommend food products containing Omega 3 as dietary supplements for sportspersons, adding to the market growth. The Fish Omega-3 market has evolved substantially in terms of standard sourcing and procurement practices and streamlined distribution channels, contributing to its sustainability. 

However, severe regulatory barriers and high costs restrict market development. Besides, the omega-3 fish oil market is expected to get affected by low-cost substitutes such as soy products, vegetable oil, nuts, and seeds. 

Saudi Arabia Omega 3 Market – Overview 

Fish oil contains 3 Omega-3 fatty acids viz., Eicosapentaenoic Acid (EPA) and Docosahexaenoic Acid (DHA), Alpha-linolenic acid (ALA), respectively. These fatty acids are essential for human health as per numerous scientific researches, but they are not naturally produced in the human body. And therefore the humans need to obtain them from outside sources such as fatty fishes like salmon, bluefish, menhaden, etc., directly, or via certain supplement products containing their extracts. The indirect source in the form of supplementary products is safe because they are free from any contamination. One significant health advantage of Omega-3 fish oil is that it helps reduce triglycerides by up to 50 %, which consequently prevents heart disease and diabetes. Fish oil improves hormonal balance and male & female fertility. 

The omega-3 deficiency among the citizens in Saudi Arabia has positively influenced the demand for omega-3-based products. Also, the awareness regarding the health benefits of Omega 3 products have induced market players to avail them in different forms to consumers. The different products include several dietary supplements, functional food and beverages, pharma products (particularly capsules), and infant formula. The market has grown substantially over the recent few years. 

Growth Drivers 

Extensive Applications of Omega 3 in the Dietary supplements industry

The dietary supplements segment is projected to account for the largest share in the Omega-3 market during the forecast period because of its wide applications in dietary supplements. Though many food products contain Omega-3 fatty acids, their omega-3 content is not sufficient. So, the consumers have moved towards Omega-3 capsules for adequate intake of Omega 3 regularly.

Restraint

Lack of Knowledge Regarding Required Intake

Despite extensive scientific research led by governments and non-government organizations and The exact standard intake of Omega-3 for regular consumption is not clear. Insufficient intake does not bring the intended health benefits. The limited knowledge regarding its dose restricts market growth.

Impact of COVID-19 in industry

Omega 3 products are healthcare products and healthcare industry always thrives upon the health consciousness and prevalence of diseases. Though Omega 3 market has been affected by disruptions in production and distribution due to COVID-19, it stands bright chances for renewal and growth due to the inherent health benefits of Omega 3 fatty acids and its awareness among consumers.

Saudi Arabia Omega 3 Market: Product Type

Based on product type, the Omega 3 market is divided into DHA, EPA, and ALA. Docosahexaenoic Acid (DHA) secured a significant share in the market due to the augmented utility of Omega-3. The DHA plays a vital role in the development of the human brain and the consumers over the world are acknowledging it, driving its market growth.

Saudi Arabia Omega 3 Market: Application

Saudi Arabia Omega 3 The market is segmented into Dietary Supplements, Functional Foods & Beverages, Pharmaceuticals, Infant Formula, and Pet Food & Feed based on application. The dietary supplements segment is expected to hold a substantial market share due to its easy accessibility and consumption during the projected years. However, pharma products (e.g. capsules) have gained popularity among consumers due to its high content of Omega 3 in comparison to that of dietary products. Besides, its everyday intake passes sufficient health benefits to the body.

Saudi Arabia Omega 3 Market: Source

Based on the source, the Saudi Arabia Omega 3 Market is divided into Marine and Plant. The marine source of omega-3 fatty acids holds the main share because of the big EPA and DHA content in the utmost of the oily fishes like tuna and salmon. The consumers prefer marine sourced Omega 3 products to plant or algae sourced Omega 3 products. Therefore, manufacturers are increasingly also focusing on marine-based Omega-3 to meet the increasing demand for EPA and DHA found insufficient in plant-based sources.

Saudi Arabia Omega 3 Market: Regional insights

Geographically, the Saudi Arabia Omega 3 Market is divided into Northeast, Midwest, and West. Every the segment is expected to register growth during the forthcoming period because of increasing awareness and availability. 

Competitive Landscape

The key players operating in the Saudi Arabia Omega 3 Market is Universal Nutrition Fish Oil, Nutrakey Fish Oil, Triple Omega, MuscleTech Essential, JYM Omega, and 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.

Recent Development

Ø  In October 2019, KD Pharma (Germany) introduced a Kardio3-a blend of omega-3, vitamin K2, and Phytosterols. It helps in preserving proper lipids and supports heart and bone fitness.

Ø  In September 2019, Epax (Norway) proclaimed an investment of USD 35 million over the next two years for the advancements in its Omega-3 sector. This venture will allow Epax to have better capacity in the omega-3 industry at its main production site in Norway. It will facilitate the prolonged attentiveness of EPA and DHA without encouragement oxidation, which will eventually avoid unwelcome by-products.

Scope of the Report

By Product Type

Ø  Docosahexaenoic acid (DHA)

Ø  Eicosapentaenoic acid (EPA)

Ø  Alpha-linolenic acid (ALA)

By Application

Ø  Dietary Supplements

Ø  Functional Foods & Beverages

Ø  Pharmaceuticals

Ø  Infant Formula

Ø  Pet Food & Feed

By Source

Ø  Marine 

Ø  Plant

By Region

Ø  Northeast

Ø  Midwest

Ø  West

The objective of the Study:

Ø  To analyze and estimate the Saudi Arabia Omega 3 Market size, in terms of value.

Ø  To examine the market segmentation carefully and estimate the market size, in terms of value, based on the region by segmenting the Saudi Arabia Omega 3 Market into three regions, Northeast, Midwest, and West.

Ø  To outline, categorize and project the Global Employee Engagement and Feedback Software Market-based on the based on the Product Type, Application, Source and Region.

Ø  To examine competitive developments in product, source, and applications within the Saudi Arabia Omega 3 Market.

Ø  To highlight market dynamics such as drivers, restraints, opportunities, and challenges, and their impact.

Ø  To provide a detailed competitive landscape, including major players, their strategic profiles, and market shares.

Business Questions Answered by the Report

Ø  How will the market drivers, restraints, and opportunities affect the market dynamics?

Ø  What will be the market size in terms of value and volume and market statistics with a detailed classification?

Ø  Which segment dominates the market or region, and which one will be the fastest-growing, and why?

Ø  Who are the key players in the market, and what is their share?

Ø  What is the strategy adopted by key players, and how does it affect the existing and new players?

Customization Scope for the Client

Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization as per the client’s specific needs. The following customization options are available for the report:

Ø  Additional Company Information

Ø  Detail Analysis of five additional companies

Ø  Additional country analysis

Ø  Detailed segment analysis