by The DHA supplements market comprises products containing docosahexaenoic acid (DHA), an omega-3 fatty acid. DHA plays a crucial role in brain, eye, and neural development. Consuming adequate DHA through supplements is recommended during pregnancy and breastfeeding to support the infant’s growth and brain development. DHA supplements are available in various forms like capsules, soft gels, powders, and liquids. They provide health benefits like supporting fetal and infant brain development, eye health, cardiovascular health, and normal growth and development. 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 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 developing innovative DHA formulations and delivery forms to cater to changing consumer preferences.
The growing awareness about the importance of DHA especially during pregnancy and lactation is driving the demand for DHA supplements. Additionally, shifting preferences towards preventive healthcare and utilization of omega-3 rich supplements for various health conditions is propelling the market growth.
The global DHA supplements market is expanding into developing regions owing to rapidly growing birth rates, rising health expenditure, and increasing product availability through varied distribution channels. Key companies are investing in these high potential markets to tap the widespread untapped opportunities.
Market Key Trends
The growing recommendation of DHA Supplements Market during pregnancy and infancy by healthcare professionals and medical organizations due to its crucial role in infant cognitive development is a major trend in the market. Manufacturers are actively promoting the prenatal and postnatal health benefits of DHA to drive greater product awareness and consumption. Additionally, introduction of novel delivery forms like gummies and soft chews catering to changing consumer preferences especially among millennials and young parents is gaining traction in the DHA supplements industry.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as it requires significant capital investment to develop DHA supplements and establish distribution channels. However, the market is growing at a brisk pace attracting new players.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are numerous manufacturers involved in the production of DHA supplements providing buyers with multiple alternatives.
Bargaining power of suppliers: The bargaining power of suppliers is moderate since manufacturing DHA requires raw materials which are supplied by few players in the industry putting them in a stronger position against manufacturers.
Threat of new substitutes: The threat of substitutes is low as fish oil containing DHA is considered superior than others sources in the market and customers preference stays strong towards the benefits of DHA.
Competitive rivalry: The competitive rivalry is high with the presence of numerous well-established domestic and global brands offering DHA supplements competing based on product innovation, quality and pricing.
Geographical Regions
North America dominates the global DHA supplements market accounting for over 40% of value share attributed to higher health consciousness and growing awareness regarding cognitive benefits of DHA intake especially among geriatric population in the US and Canada.
Asia Pacific represents the fastest growing regional market for DHA supplements projected to witness a CAGR of 12% during the forecast period driven by rising middle class population, increased spending on nutrition and wellness products in emerging economies like China and India.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
