Private Label Omega Oil Supplements & Vitamins
Omega Oil Dietary Supplement Market In-Depth Analysis
Science suggests omega-3 fatty acid has a wide range of health benefits including improved infant neurodevelopment, Alzheimer’s, and arthritis. It can also help humans live longer. As a result, omega-3 supplements have become one of the most lucrative markets in the natural product supplement industry.
An Overview of the U.S. Omega-3 Supplement Market
In 2016, the omega-3 supplement market was worth $33 billion USD globally. And with a compound annual growth rate (CAGR) of 2%, experts believe this same market will balloon to $57 billion USD by 2025. The American market reflects this growth:
- 7.8% or 8.8 million adults consume fish oil, DHA, EPA, and omega-3 supplements.
- 1.1% or 0.84 million children use daily fatty acid supplements.
- American consumers spent $12.8 billion USD on non-mineral, non-vitamin natural products in 2012.
- In 2014, Americans spent $1.15 billion on omega-3 supplements.
The U.S. market is one of the most lucrative omega-3 supplement markets in the world, and it’s growing at an exponential rate. It should easily top $2 billion by 2025.
What Consumers Look for in Omega-3 Oils
As consumers learn more about omega-3s and become better shoppers, their buying habits change. However, there are some essential traits they look for:
- Amount of Omega-3s — Consumers want as much omega-3 in their supplements as possible.
- Ease of Absorption — To get the most benefit, consumers prefer omega-3s in free fatty acid form.
- Safety — Consumers want to know the supplements they take are genuine, safe to consume, and free of contamination.
- Sustainability — This consumer segment worries about the purity and health of the environment. That’s why consumers in this space look for sustainable and environmentally-friendly choices.
Omega Oil Target Market
While logic may suggest that affluent households would purchase more supplements than low-income households, this isn’t the case. Families that make less than $25,000 annually spend an average of $435 on complementary health, while homes with an income of over $100,000 spend $590. (Families with income between $25,000 to $49,999 and $50,000 to $99,999 spend $448 and $505 respectively.)
Today, omega-3 supplement consumers include the very young, the old, and all those in-between. Demographics have little to do with a consumer’s willingness to purchase omega-3 supplements. The best way to define the target market is to consider why they’re taking the supplement.
Women frequently buy omega-3 before, during, and after pregnancy to promote healthy fetal development. Manufacturers add fatty acids to infant formulas and toddler foods. And as the children grow, parents eventually adopt omega-3-enriched children’s vitamins.
Individuals who focus on healthy living, physical fitness, or strict diets also commonly consume omega-3 oil supplements. For example, vegetarians and vegans use omega oils to make up for the lack of omega-3 rich foods in their diets. They also take omega oil to prevent or treat health issues that research has connected with omega oils.
Researchers to make some generalizations about fatty acid supplement consumers. For example, omega oil buyers are likely to be forward-thinking and future-focused. They’re concerned with living a long and happy life, and as a result, they pay attention to what goes into their bodies. Leading a natural, healthy life is so important that low-income households are willing to spend their limited dollars on omega-3 oils and complementary health services. These consumers aren’t uninformed, either. They need some level of trust or authority in the product to buy.
The omega-3 supplement market is currently profitable and growing. Moreover, it’s rising quickly worldwide. To secure a share of this market, however, companies need to understand the science and details behind fatty acids as well as why their target audience takes the supplement.