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Omega-3 products market valued at $33 billion in 2012

Press Release   •   Jul 05, 2013 09:03 BST

The global omega-3 products market as well as supplements had an estimated retail value of US$33 billion in 2012. Food and drink, which includes milk formula, comprises 90% of this, whilst supplements makes up the remaining 10%.

According to a recently published report 'Success of Omega Fatty Acids: From Supplements to Food,' global fresh fish consumption - which comprises both retail and foodservice - rose from 71 million tonnes in 2007 to 82 million tonnes in 2012. Annual growth, which has remained at about 3% since 2010, is predominantly due to growth in the population of emerging markets, in particular Asia Pacific. The latter saw fresh fish growth of US$9 million tonnes over 2007 to 2012.

Omega-3 is vital to heart, vision and brain health, yet at present there is a large gap in many countries between recommended daily intake of omega-3 and actual consumption.

Scientific research has helped boost omega-3 awareness, particularly in milk formula. A lack of omega-3 is detrimental to the functioning of the brain, eyes and heart. As such, intake is vital to leading a healthy life for all ages, and it is important to raise consumer awareness of the gap between actual intake and recommended daily intake levels.

Fortified/functional products saw the strongest growth over 2007-2012, as tough economic times led consumers to look to gain added value from products. Awareness of ingredients which offer added functionality is increasing and, as such, milk formula, dairy and bakery products have seen significant development.

New sources of omega-3s-ranging from krill and calamari to cranberry, chia seed and hemp are also making it easier for manufacturers to market high-omega products.

Fish oils/omega fatty acid supplements was the third fastest growing supplement globally over 2007-2012, with a 12% CAGR. Consumers are embracing its benefits for cardiovascular with a 11.5% CAGR and mental health.

Numerous multivitamin formulations now boast ingredients such as omega fatty acids, probiotics and ginseng. Such combinations can, for example, be positioned as good for both the immune system and for digestive health. This may lead to consumers purchasing multivitamins with probiotics, instead of purchasing them separately.

For more information on the omega-3 products market, see the latest research: Omega-3 Products Market

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