June 17, 2024
DHA Supplements Market

DHA Supplements Market Is Estimated To Witness High Growth Owing To Increasing Health Consciousness

DHA supplements are nutritional supplements containing docosahexaenoic acid (DHA), an omega-3 fatty acid that is abundant in fish and fish oil. It is commonly added to food, infant formula, and dietary supplements due to its role in brain and eye development in infants. DHA supplements help in improving brain, eye and heart health. It supports brain functions like memory, concentration and learning ability. It also plays a crucial role in eye health by reducing the risk of age-related macular degeneration. The rising cases of cardiovascular diseases have boosted the demand for DHA due to its heart health benefits. The growing health consciousness among people has increased the adoption of dietary supplements for various health conditions. 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 2024 to 2030.

Key Takeaways

Key players operating in the DHA Supplements 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. Key players are launching new products with improved formulations and launching awareness campaigns to educate people about the health benefits of DHA.

The growing consumer awareness regarding health benefits of DHA is boosting the market growth. Rising cases of chronic diseases, increasing healthcare costs are key factors driving the demand for preventive healthcare. This provides growth opportunities for DHA supplements manufacturers to expand their customer base.

Technological advancements in supplement formulations help in improved absorption and deliver effective amounts of DHA. Advances in microencapsulation and nanoencapsulation technologies have allowed manufacturers to enhance the stability, bioavailability and effectiveness of DHA supplements. This supports the market growth.

Market Drivers

The rising health consciousness among people regarding balanced diets and nutritional intake is a key driver for the DHA supplements market. Studies have proven the role of DHA in brain and eye development for infants which is driving the demand from new parents. The growth in elderly population also drives the market owing to higher risk of age-related health issues in this demographic. Growing cases of lifestyle diseases like diabetes and cardiovascular diseases augment the demand as DHA offers prevention from such disorders.

Current Challenges in DHA Supplements Market
The DHA Supplements Market is currently facing several challenges. One of the major challenges is maintaining quality standards during production. As DHA content can degrade easily due to oxidation, ensuring the stability and purity of DHA during manufacturing and storage is a difficult task. Another challenge is fluctuations in the prices of raw materials like fish and algal oils which increases production costs. High costs adversely impact the affordability of these supplements. Lack of awareness about the benefits of DHA among consumers in developing regions is also hindering the growth of this market.

SWOT Analysis

Strength: High demand for omega-3 fatty acids due to various health benefits. Rising health consciousness driving the adoption of nutritional supplements.
Weakness: Issues regarding quality control and consistency in production. Vulnerability of prices to raw material cost volatility.
Opportunity: Untapped growth potential in emerging markets of Asia Pacific and Latin America. New product launches targeting different end users.
Threats: Strong competition from alternative supplements. Stringent regulations associated with food supplements.

Geographical Regions
North America accounts for the largest share of the global DHA supplements market in terms of value, followed by Europe. This is attributed to high health awareness, growing elderly population prone to age-related ailments, and rising adoption of supplements in daily diet.

Asia Pacific region is poised to be the fastest growing market during the forecast period. This is due to increasing health expenditure, growing middle class population with higher disposable incomes, rising instances of lifestyle diseases, and rapid urbanization in major countries like India and China. Greater availability of supplements through online platforms is further boosting market growth in Asia Pacific.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it