DHA supplements are nutritional products that contain the omega-3 fatty acid docosahexaenoic acid (DHA). DHA is an important structural component of the brain and retina and helps support brain and eye health throughout life. These supplements are available in softgel capsules, gummies, and liquids and are taken orally. The global DHA supplements market is expected to exhibit a CAGR of 9.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growth of the DHA supplements market is driven primarily by increasing health consciousness among consumers and awareness regarding the benefits of DHA. DHA aids brain development during pregnancy and infancy. It also promotes brain and eye health in older adults. Supplementing the diet with DHA can offer numerous benefits such as reduced risk of age-related macular degeneration, cardiac health, and Alzheimer's disease. Rising adoption of omega-3 supplements is expected to boost the DHA supplements market during the forecast period.
Increasing cases of malnutrition are another factor fueling the demand for DHA supplements. DHA plays a crucial role in healthy development during fetal development, infancy, childhood, and adulthood. However, vegan and vegetarian diets are generally low in or devoid of DHA content. Supplementing with algal DHA addresses this gap and meets daily omega-3 fatty acid requirements. The rising popularity of veganism and growing vegan population is projected to present lucrative opportunities.
SWOT Analysis
Strength: DHA supplements provide essential fatty acids that are crucial for brain and eye development in infants and children. They help maintain heart health and reduce inflammation in adults. Many DHA supplements are derived from algal sources making them vegetarian-friendly.
Weakness: As with any dietary supplements, quality and purity can vary between brands. Lower quality products may not provide the advertised health benefits. Overconsumption of omega-3 supplements has also been linked to increased risk of bleeding.
Opportunity: Rising health awareness and focus on preventive healthcare is driving demand for nutrition and wellness supplements. The aging global population also presents an opportunity as DHA supports brain and cognitive function in older adults. Growing vegan and vegetarian demographics are increasing the market for plant-based DHA options.
Threats: Stricter regulations can adversely impact smaller supplement companies and influence product formulation. Scientific studies questioning the health benefits of omega-3 supplements can negatively impact the market. Price fluctuations in key algal DHA sources threaten profit margins and supply continuity.
Key Takeaways
The Global DHA Supplements Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. The market size for DHA supplements was valued at US$ 1827.77 billion in 2024 and is anticipated to rise at a compound annual growth rate (CAGR) of 9.8% during the forecast period.
Regional analysis: North America currently dominates the DHA supplements market owing to health-savvy consumer base and guidelines recommending DHA intake during pregnancy and infancy. Asia Pacific is expected to record the fastest growth due to rising living standards, increasing health awareness, and growing elderly population in countries like China and India.
Key players: 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 companies offer a range of DHA supplements targeted towards different consumer segments like pregnant women, infants, children and adults.
Get More Insights Here
https://www.newsstatix.com/dha-supplements-market-size-share-growth-outlook-2023/
