In 2020, the global market for dietary supplements was worth a staggering US$140.3 trillion. Market value is expected to rise at 8.6 percent, reaching US$272.4 million by 2028. According to the FDA, dietary supplements can be taken in tablets, capsules or gelcaps.

The rise in dietary supplements can be attributed to increased healthcare product spending, rising geriatric populations, and growing interest and awareness in preventative health and wellness. Consumer interest in dietary supplements to improve immune function has increased due to the Covid-19 pandemic.

The best dietary supplement

Omega-3 fatty acids supplements are considered to be the most important nutraceutical among all dietary supplements. Omega-3 fatty acids have many health benefits and are crucial for human health.

Omega-3 fatty acids may have several benefits, including lowering your risk of heart disease, strengthening bones and memory, reducing the risk for depression and dementia, improving brain development and growth during pregnancy and early childhood, and reducing inflammation and the chance of developing cancer.

It is no surprise that the market for omega-3 fatty acid products in the world was worth US$44 billion in 2020, given their importance in human health. The market for omega-3 fatty acids is forecast to grow by a substantial 14 percent, and will reach approximately US$9 billion in 2029.

The 2012 National Health Interview Survey found that 18.8 million adults, or 7.8 per cent, in the USA, and 664,000 children (4 to 17 years old) had taken a supplement to fish oil in the past 30 days.

There is a growing demand for plant-based dietary supplementation

Another trend that is gaining popularity -- veganism -- could be contributing to the growth of the omega-3 fatty acids market. The number of Americans who identify as vegan increased 600% between 2014 and 2017, from 1 percent to 6 percentage. Vegan diets are on the rise in the UK. There has been an increase of 600,000 vegans since 2006, when there were only 150,000.

Vegans eat purely plant-based diets. This means that they don't eat any animal products or by-products like fish, meat, milk, and eggs. And what's more? Another study has shown a growing interest for plant-based foods as well as alternatives for vegetarians and vegans. This shift to a more plant-based lifestyle can be attributed to the desire for better health, weight, animal welfare, and environmental concerns.

People will increasingly turn to plant-based options for omega-3 fatty acids as they become more vegan. Common vegan sources of omega-3 fatty acid such as nuts and seeds, are not efficient and don't provide enough for human health.

There are three main forms of omega-3 fatty acids: ALA, DHA, and EPA. Algae-based omega-3 supplements are the best because they contain EPA and DHA. Only nuts and seeds contain ALA, not DHA or EPA. These nutrients have stronger links to better mental health and reduced inflammation. Research has also shown that supplements with DHA and EPA significantly increase levels.

Market leaders in dietary supplements

The Archer-Daniels-Midland (ADM) (NYSE:ADM) Company is an American multinational food processing and commodities company that produces a wide range of products including dietary supplements. ADM provides phospholipids as well as vitamin E, plant steroids, soy isoflavones, and other essential fatty acids products. All omega-3 fatty acids products of ADM are made from algae, making them completely vegan and plant-based. Qualitas Health, a nutrition and food company, produces ADM's omega-3 products.

Jamieson Wellness (TSX.JWEL), a Canadian leader in the manufacture, distribution and marketing of health and well-being products, is listed on the TSX. Jamieson vitamins, IronVegan and Progressive are just a few of the notable brands that make up the company's catalog. They also offer access to many verticals in the health and well-being industry. The company also owns a 120,000-square-foot facility that produces tablet and capsules, as well as a softgel production site of 70,000, a Scarborough powder manufacturing plant that manufactures powder in Scarborough, and a warehouse of 100,000 square feet that holds the raw materials necessary for production. Investors can benefit from the full vertical integration of manufacturing and distribution within the fast-growing natural supplements market by Jamieson Wellness.

Solarvest BioEnergy, TSXV:SVS is a Canadian technology development company. It produces an algae-derived omega-3 supplement under its Eversea brand. Uniquely, the company's DHA/EPA omega-3 supplement is FDA-approved. It is organic, vegan, non toxic, highly bioavailable and sustainable. The omega-3 supplement is completely free from solvents, chemicals and heavy metals.

Solarvest BioEnergy's proprietary clean energy agal platform is poised for growth. It is capable of reproducible, consistent, and high-yielding mass production. The platform is flexible enough to create complex products for animal and human nutrition, prescription and unprescription medication, and derivatives. It has already made a significant breakthrough in the medical industry. Solarvest Bioenergy plans to increase its product range to include more omega-3 supplements and CBD and THC products.

Takeaway

The market for omega-3 products is expected to grow at a similar rate, if not faster, as the market for dietary supplements grows in the future. Companies in the dietary supplement industry have new opportunities because consumers are more open to plant-based products. Investors looking to capitalize on the market's potential growth will find exciting opportunities in dietary supplement companies that use plant-based and health-focused ingredients such as omega-3 fatty acid.

Solarvest BioEnergy (TSXV,SVS) sponsored this 11 Ways to Make MoneySpired article. This article 11 Ways to Make MoneySpired contains information that was sourced from 11 Ways to Make Money. It has been approved by Solarvest BioEnergy to allow investors to learn more about the company. Solarvest BioEnergy has been a client 11 Ways to Make Money. The campaign fees paid by the company cover 11 Ways To Make Money for the creation and updating of this 11 Ways To Make MoneySpired piece.

11 Ways To Make Money is not an investment advisor and the profile information should not be construed as a recommendation to purchase or sell any security. 11 Ways To Make Money is not a company profiled.

This information is provided for informational purposes only. It should not be taken as an offer to sell or solicited for the purchase or sale of securities. All information about the company should be researched independently by readers. Before making any investment decision, readers should consult Solarvest BioEnergy directly and seek the advice of a qualified investment advisor.

By: 11 Ways to Make Money
Title: How Changing Consumer Preferences Are Leading to Growth in the Dietary Supplements Market
Sourced From: investingnews.com/innspired/how-changing-consumer-preferences-are-leading-to-growth-in-the-dietary-supplements-market/
Published Date: Thu, 04 Nov 2021 20:00:25 +0000

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