Vegan Omega-3 Supplements Market To Reach USD 2.98 Billion By 2030 from Tushki Desale's blog

 Vegan Omega-3 Supplements Market Growth & Trends

The global vegan omega-3 supplements market is expected to reach USD 2.98 billion by 2030, growing at a CAGR of 9.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is mainly driven by driven by a confluence of health, environmental, and ethical factors. One of the primary drivers is the increasing awareness of the health benefits associated with omega-3 fatty acids, which include improved cardiovascular health, enhanced cognitive function, and anti-inflammatory properties.

Consumers are becoming more health-conscious and are actively seeking plant-based alternatives to traditional fish oil supplements. For example, algae-based omega-3 supplements are gaining popularity as they provide a sustainable and vegan-friendly source of essential fatty acids, particularly EPA and DHA. Environmental concerns also play a crucial role; overfishing and the ecological impact of fish oil production have prompted a shift towards more sustainable sources.

The appeal of vegan omega-3 supplements is further enhanced by the introduction of innovative delivery systems, such as pectin-based softgels. These advancements address concerns regarding gelatin-derived capsules and provide a more attractive option for consumers seeking vegan-friendly supplements. As the market evolves, manufacturers and suppliers have the opportunity to capitalize on the growing demand by offering high-quality, sustainable, and effective vegan omega-3 supplements to meet the needs of a diverse consumer base.

The competitive landscape of the vegan omega-3 supplement market is characterized by a mix of established nutraceutical companies and emerging startups, all vying for a share of this rapidly growing segment. Major players like Barlean's Organic Liquid, LLC, i-Health, Inc., Source Naturals, Inc., NUTRU, Nordic Naturals, Calgee, and NOW Foods,  have established a strong presence by leveraging their expertise in plant-based formulations and sustainable sourcing.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/vegan-omega-3-supplements-market-report

Vegan Omega-3 Supplements Market Report Highlights

• Algae-based vegan omega-3 supplements held a 75.4% market share of global revenues in 2023, driven by increased awareness of the purity and sustainability of algal oil.
• The market is projected to grow at a CAGR of 9.6% from 2024 to 2030. Manufacturers are expanding their product lines to include alternative forms, such as powder, to cater to diverse consumer preferences.
• Cardiovascular vegan omega-3 supplements accounted for 37.0% of global revenues in 2023. These supplements are commonly used for promoting cardiovascular health, offering significant benefits for maintaining heart function and reducing the risk of heart-related issues.
• The market in North America held a 37.1% share of global revenue in 2023, driven primarily by a growing consumer preference for plant-based alternatives and the increasing adoption of vegan and vegetarian lifestyles.

Regional Insights

The market in North America accounted for a share of 37.1% of the global revenue in 2023. The market is primarily driven by a growing consumer preference for plant-based alternatives, in line with the increasing adoption of vegan and vegetarian lifestyles. As more individuals seek sustainable and ethical products, the demand for vegan omega-3 supplements has surged. For example, the rise of plant-based diets among millennials and Gen Z has led to a greater interest in vegan supplements, prompting the industry to expand its product offerings.

U.S. Vegan Omega-3 Supplements Market Trends

The market in the U.S. is projected to grow at a CAGR of 8.8% from 2024 to 2030. The growth of the market is mainly attributed to the increasing consumer awareness of the health benefits associated with omega-3 fatty acids and the shift towards plant-based diets. As more Americans focus on incorporating healthier and sustainable dietary choices into their lifestyles, the demand for vegan omega-3 supplements continues to rise. As per research conducted by Nuseed Nutritional US Inc. in October 2021, 64% of vitamin and mineral supplement consumers preferred plant-based or vegan omega-3 supplements.

Vegan Omega-3 Supplements Market Segmentation

Grand View Research has segmented the global vegan omega-3 supplements market based on source, form, functionality, end-use, distribution channel, and region.

Vegan Omega-3 Supplements Source Outlook (Revenue, USD Million, 2018 - 2030)

• Algae
• Flaxseed
• Chia Seeds
• Others

Vegan Omega-3 Supplements Form Outlook (Revenue, USD Million, 2018 - 2030)

• Capsules
• Liquid
• Powder
• Others

Vegan Omega-3 Supplements Functionality Outlook (Revenue, USD Million, 2018 - 2030)

• Cardiovascular Health
• Brain, Nervous System & Mental Health
• Eye Diseases
• Diabetes
• Others

Vegan Omega-3 Supplements End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Adults
• Geriatric
• Pregnant Women
• Children
• Infants

Vegan Omega-3 Supplements Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• OTC
• Prescribed

Vegan Omega-3 Supplements Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

List of Key Players in the Vegan Omega-3 Supplements Market

• Barlean's Organic Liquid, LLC
• i-Health, Inc.
• Source Naturals, Inc.
• NUTRU
• Nordic Naturals
• Calgee
• NOW Foods
• Sunwarrior LLC
• Nomolotus, LLC (Truvani)
• Doctor’s Best

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/vegan-omega-3-supplements-market-report