The North American omega-3 products market is projected to register a CAGR of 6.8% during the forecast period, 2020-2025.
The food regulators in North America, USFDA in 2014, approved three omega-3 drugs for the heart health applications. This factor is expected to boost the growth of the omega-3-based pharmaceutical products market in the near future.
Omega-3 products required for the fortification of infant formula are expected to record a high demand in the North American countries, as consumers are willing to pay higher for high-quality products that can elevate their healthier living lifestyles.
Key Market Trends
The United States Continue to Dominate the Market Share
The increasing awareness about the long-term benefits of omega-3 consumption, fortified product availability, and the growing market acceptance for such products are scaling up the demand. Americans are becoming increasingly aware of the need for omega-3 products, as a part of a healthy diet. Roughly 17% of US consumers supplement their diet with omega-3.
On the other hand, there are approximately 35 million vegetarian buyers and 15 million vegans in the United States. They consume a limited amount of DHA through their diet. Alternatively, this has led to the growing popularity of the algae-based omega-3 products in the region.
The Rising Prevalence of Heart Diseases
Across the United States, the prevalence of heart disease is linked to a couple of key factors, such as high blood pressure, high cholesterol levels, and smoking. Other medical conditions linked to heart diseases, namely diabetes, overweight and obesity, unhealthy diet, and physical inactivity, are playing a key role in frequent heart attacks. Heart disease is the leading cause of death for people of most racial and ethnic groups in the United States, including African American, American Indian, Alaska Native, Hispanic, and white men.
Omega-3 has various health benefits, such as the prevention of cardiovascular diseases, by reducing triglyceride levels and obesity, enhancing bone and inflammatory health, and increasing immunity. Omega-3 fatty acids have been proven to help overweight individuals, by contributing to the improvement of body composition, by increasing metabolism and fat-burning potential.
The omega-3 market in North America encompasses leading manufacturers, such as Unilever, Abbott, and Nestle SA. The companies manufacturing omega-3 products are majorly focused on developing innovative products to cater to the increasing demand for health benefit products by the North American consumers. On the other hand, major players are seeking expansions within the region that will allow them to develop novel products at massive scale, both, for domestic consumption and export-oriented reasons, along with investing heavily in research and development, which allows them to stay ahead in the competition.
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