South America Omega-3 Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The South American omega-3 products market is segmented by product type (functional food, dietary supplements, infant nutrition, pet food and feed, and pharmaceutical) and distribution channel (grocery retailers, pharmacies and drug stores, internet retailing, and other distribution channels). By geography, the market is segmented into Brazil, Argentina, Chile, and the Rest of South America.

Market Snapshot

South America Omega-3 Products Market
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 8.3 %

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Market Overview

The South American omega-3 products market is projected to register a CAGR of 8.3%, during the forecast period (2020-2025).

Across the region, dietary supplements have been estimated to lead the market, on the other hand, omega-3 products across infant formula are expected to record a comparatively higher CAGR.

Brazil dominates the market, due to its high consumption of healthy food, as compared to other countries, followed by Argentina. With more well-informed consumers who want to improve their lifestyles, the whole South American region is primed for continual growth, citing the consumption of omega-3-based products.

Scope of the Report

The South American omega-3 products market is segmented by product type into functional food, dietary supplements, infant nutrition, pet food and feed, and pharmaceutical. By distribution channel, the market is segmented into grocery retailers, pharmacies and drug stores, internet retailing, and other distribution channels. On the basis of geography, the report provides an analysis of major consuming nations in the region, i.e., Brazil, Argentina, Colombia, and the Rest of South America.

By Product Type
Functional Food
Dietary Supplements
Infant Nutrition
Pet Food and Feed
Pharmaceuticals
By Distribution Channel
Grocery Retailers
Pharmacies and Drug Stores
Internet Retailing
Other Distribution Channels
By Geography
South America
Brazil
Argentina
Chile
Rest of South America

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Key Market Trends

Growing Demand for Omega-3 Products in Brazil

Across Brazil, people are mostly aware of the benefits of omega-3, pertaining to cardiovascular and brain health. Many international companies are introducing new algal-based EPA products or collaborating with Brazilian companies to launch algal-based EPA-fortified products and supplements in the Brazilian market.

The main source of omega-3 for the Brazilian population is fish, followed by fortified foods. The growing middle-class population allows for more disposable income, along with the spread of technology and growing education, which led to more knowledge about personal health. This increasing health concern in Brazil is driving the demand for omega-3 products, mostly in supplements and pharmaceutical drugs.

Omega 3 - Source of consumption 1

Consistent Demand for Healthy Foods, Specifically from the Emerging Nations

South American countries, such as Chile, are one of the topmost importers of the US "consumer-oriented products". The demand for healthy food products continues to grow, with increasing health awareness and disposable incomes. The US products are perceived to be of high quality, and safe, unique, and reliable. Hence, consumers are increasingly searching for gourmet and differentiated products, providing excellent opportunities for US exporters.

Across Chile, the emergence of millennial consumers having higher disposable incomes is a positive influencer for the omega 3 products to grow. These sets of consumers tend to buy less in terms of volume but are looking for high value-added products, such as fortified and functional food and beverages.

Sale of Functional Food products in Chile1

Competitive Landscape

Major players operating in the South American omega-3 products market are Nestle SA, Amway Corp., Unilever, GNC, and Herbalife, among others. Domestic companies are vying for their market share and are majorly engaged in the production of infant formula based products. This has led to low market visibility, however, the market is anticipated to witness an increasing rate of mergers and acquisitions, followed by product innovation, leading to higher competition among established players.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Functional Food

      2. 5.1.2 Dietary Supplements

      3. 5.1.3 Infant Nutrition

      4. 5.1.4 Pet Food and Feed

      5. 5.1.5 Pharmaceuticals

    2. 5.2 By Distribution Channel

      1. 5.2.1 Grocery Retailers

      2. 5.2.2 Pharmacies and Drug Stores

      3. 5.2.3 Internet Retailing

      4. 5.2.4 Other Distribution Channels

    3. 5.3 By Geography

      1. 5.3.1 South America

        1. 5.3.1.1 Brazil

        2. 5.3.1.2 Argentina

        3. 5.3.1.3 Chile

        4. 5.3.1.4 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Position Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Unilever

      2. 6.4.2 Amway Corp.

      3. 6.4.3 Herbalife Nutrition

      4. 6.4.4 Nestle SA

      5. 6.4.5 GNC

      6. 6.4.6 Reckitt Benckiser Group PLC

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The South America Omega-3 Products Market market is studied from 2016 - 2026.

The South America Omega-3 Products Market is growing at a CAGR of 8.3% over the next 5 years.

Unilever, Herbalife Nutrition, Amway, GNC, Nestlé S.A. are the major companies operating in South America Omega-3 Products Market.

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