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| DHA Supplements Market |
DHA supplements are essential fatty acids that offer various health benefits including better brain development and functioning. These supplements play a crucial role in pregnancy as well as lactation. DHA is mainly obtained from fish, however, due to growing environmental concerns regarding consumption of fish, people are increasingly opting for plant-based and fish-derived DHA supplements. The global DHA supplements market is estimated to be valued at US$ 1827.77 Bn in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period of 2024 to 2030.
Key Takeaways
Key players operating in the DHA supplements market are AtHoc,
Inc.€“(BlackBerry Limited), F24 AG, Eaton Corporation plc, xMatters, Inc.,
Honeywell International, Inc., Omnilert, LLC ̧ IBM Corporation, Mir3, Inc.,
Siemens AG, Metis Secure Solutions, LLC, and Everbridge, Inc. These players are
focusing on development of innovative products and adopting growth strategies
such as mergers & acquisitions to consolidate their market position.
The global DHA supplements market offers significant opportunities in the form
of growing health consciousness among people. Manufacturers are introducing new
products fortified with DHA to cater to demand from health-conscious consumers.
Rising awareness about importance of DHA for fetal development is also fueling
demand.
Geographically, North America dominated the DHA supplements market in 2019.
However, Asia Pacific is expected to witness highest growth owing to growing
population, rising incomes, and increasing health awareness in countries such
as China and India. Key players are expanding their distribution networks in
Asia to leverage high growth opportunities in the region.
Market drivers and restrain
The key driver for the growth of DHA supplements market is rising health
consciousness among consumers. People are becoming increasingly aware about
importance of DHA for fetal brain development, eye and heart health. This is
driving demand for DHA supplements globally.
Another major driver is growing vegan population. Rising environmental concerns
have led to increase in vegan and vegetarian demography who avoid fish
consumption. DHA supplements help meet their daily DHA requirement from
plant-based sources.
On the other hand, availability of substitutes can hamper the growth of DHA
supplements market. Some healthy fats and oils contain small amounts of DHA
that can fulfill the daily requirement. Further, high prices of fish-oil
derived DHA supplements also impact the mass adoption. Stringent regulations
pertaining to supplements add to the production cost. These factors pose a
challenge for market growth.
Segment Analysis
DHA
Supplements Market is dominated
by capsules and soft gels sub segment. Capsules and soft gels form accounts for
over 55% share as they are easy to consume and digest as compared to other
forms. Liquid form is the second most dominating sub segment and is growing at
a faster pace due to rise in pediatric usage. Oil form has lowest share as it
needs to be taken in larger quantity to obtain recommended daily dose of DHA.
Global Analysis
North America dominates the global DHA supplements market and holds over 35%
share. High health awareness regarding benefits of DHA, large number of working
mothers leading to rise in pediatric supplements consumption and presence of
major players drive the market in the region. Asia Pacific is fastest growing
region for DHA supplements market and is expected to witness double digit
growth during the forecast period. Rise in middle class population, increased spending
on nutrition and wellness products, growing penetration of e-commerce and
expansion of organized retail in countries such as China and India support
market growth in the region. Europe is another major region for DHA supplements
market led by Germany, United Kingdom and France together holding around 60%
share.
For more insights, read- https://www.newsstatix.com/dha-supplements-market-trends-size-and-share-analysis/
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