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| DHA Supplements Market Size |
The DHA Supplements Market is estimated to be valued at US$ 1586.6 Mn or billion in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
DHA supplements contain docosahexaenoic acid (DHA), an omega-3 fatty acid that
is important for brain and eye development in infants and young children. DHA
supplements are available in various forms such as gummies, capsules,
soft-gels, liquids, etc. and are widely used in infant formula, pregnancy and
lactation supplements, adult nutrition, and pet food applications. DHA supports
brain function, vision, circulation, joint comfort, and metabolism. It is
highly concentrated in retinal tissue and gray matter of the brain.
Market Dynamics:
The improving healthcare infrastructure and rising awareness about the health
benefits of DHA are expected to drive the growth of the DHA supplements market.
According to research, DHA intake during pregnancy supports the baby's brain
and eye development. It also improves baby's cognitive abilities and vision.
Thus, increase in number of working women and hectic lifestyles have boosted
the demand for DHA supplements for pregnant and lactating women. Additionally,
rapid urbanization and increasing disposable incomes in developing regions have
also augmented the demand. However, limited knowledge about appropriate dosage
guidelines for DHA intake poses a challenge for market growth. Strict
regulatory norms associated with qualifications of DHA content in supplements
also remain a restraint.
Segment Analysis
The DHA
Supplements Market Size is dominated by the algal-based DHA
sub-segment. Algal-based DHA supplements are gaining more popularity as they
are considered more sustainable and eco-friendly compared to fish-based DHA
supplements. Algae can be farmed in a controlled environment and their
harvesting does not put pressure on wild fish stocks. This makes algal DHA a
better alternative to fish-derived DHA over the long run.
PEST Analysis
Political: DHA supplements face strict regulations around the world regarding
production, labeling and marketing claims. Standardization of regulations can
boost consumer confidence in these supplements.
Economic: The rising consumer health consciousness and disposable incomes are
driving the demand for nutritional and brain-support supplements globally.
Social: Changes in lifestyles and busy schedules have increased the adoption of
supplements as a means to fulfill daily nutrition requirements. Social media
marketing is also promoting DHA as an important brain nutrient.
Technological: Advances in algal cultivation techniques are resulting in higher
and more sustainable production of algal DHA, improving its cost-effectiveness
over fish-derived DHA.
Key Takeaways
The global DHA supplements market is expected to witness high growth,
exhibiting CAGR of 7.0% over the
forecast period, due to increasing health awareness about the neurological
benefits of DHA. The market size for DHA supplements is projected to reach US$
2842.2 Mn by 2030 from US$ 1586.6 Mn
in 2023.
North America represents the largest as well as the fastest growing regional
market. Increased consumer demand for products supporting mental and infant
development along with presence of major manufacturers are driving market
growth.
Key players operating in the DHA supplements market include BASF Corporation,
DSM, Cellana Inc., JC Biotech Pvt.Ltd, FEMICO, Croda International Plc, Pharma
Marine AS, Clover Corporation, Omega Protein Corporation, Kingdomway Nutrition,
Inc., ECPlaza Network Inc., Bizen Chemical Co.LTD, Stepan Company, Novotech
Nutraceuticals, Inc., Arjuna Natural, Jiangsu Auqi Marine Biotechnology Co.,
Ltd., and Aker BioMarine. Major players are focusing on offering algal-based
vegetarian and sustainable DHA options to tap the rising consumer demand.
Read More: https://www.rapidwebwire.com/dha-supplements-market-scope/