10.14.10
Abundant scientific research on the health benefits of omega 3 ingredients has given the category a definitive edge in the functional foods market, according to a new Frost & Sullivan report.
Titled “Strategic Analysis of the European Marine and Algae Oil Omega-3 Ingredients Market,” the study examines drivers and restraints for growth, pricing, distribution, legislation, demand and geographical trends. Following from these, market growth for regional and market segments are forecasted. Frost & Sullivan projects 10% compound annual growth rate (CAGR) from 2008 to 2013 in the marine and algae oil omega 3 ingredient market.
In addition, an in-depth analysis of the competitive situation including vendors’ market shares is performed, along with detailed profiles of the key vendors in the industry. The base year is 2008 with forecasts running through 2013. The market is further divided into two sub-segments including marine oil omega 3 ingredients and algae oil omega 3 ingredients.
Frost & Sullivan analysts thoroughly examine dietary supplements, functional foods and beverages, animal and pet feed, pharmaceuticals and infant and clinical nutrition.
The 14,000 papers published about omega 3 EPA/DHA have greatly improved the credibility of these polyunsaturated fatty acids (PUFAs) as vital functional ingredients, the report states. This heightened consumer awareness has had a telling effect on the growth charts. Manufacturers that recognize the link between consumer awareness and marketability of the products are branding their ingredients on consumer food and beverage products.
Meanwhile, the Global Organization of EPA & DHA Omega-3 (GOED), an industry organization, has offered funding to Purdue University in the U.S. to establish the Omega-3 Learning Consortium for Health and Medicine to provide credible information regarding omega 3 fatty acids to consumers, health professionals and the media.
“Industry associations have been successfully formed to protect their interests and voice their opinions to government agencies charged with regulating food ingredients,” says the analyst of this research. “These associations play a critical role in addressing crucial legislative challenges facing the industry and in providing opportunities that benefit the overall growth of the market.”
The projected 10% compound annual growth rate (CAGR) from 2008 to 2013 in the marine and algae oil omega 3 ingredient market is likely to jumpstart key condition-specific health markets such as cognitive health, joint health and immune health. However, the omega 3 industry is facing an increasingly complex set of technology, environmental and regulatory changes. “On February 12, 2010, the European parliament passed nutrition claims for omega 3s that will allow food products to claim they are either a ‘source of omega 3 fatty acids’ or that they contain ‘high omega 3 fatty acids,’” notes the analyst. “This is a positive development because it will enhance both consumer awareness and usage across Europe in countries where consumers already understand the value of omega 3s.”
Despite these favorable conditions, participants have a lot of ground to cover with regard to awareness and acceptance. They have been greatly assisted in their endeavors by positive media coverage. They have also benefited from the rise in the number of elderly who are predisposed to chronic illness such as cardiac disorders, strokes, osteoporosis and cancers.
“A larger number of consumers consider food products an alternative means to prevent many diseases and adverse health conditions such as cardiovascular disease (CVD),” observes the analyst. “The demand for omega 3 ingredients is directly related to the escalating incidence of CVD in developed countries and it significantly hikes the unit consumption."
Titled “Strategic Analysis of the European Marine and Algae Oil Omega-3 Ingredients Market,” the study examines drivers and restraints for growth, pricing, distribution, legislation, demand and geographical trends. Following from these, market growth for regional and market segments are forecasted. Frost & Sullivan projects 10% compound annual growth rate (CAGR) from 2008 to 2013 in the marine and algae oil omega 3 ingredient market.
In addition, an in-depth analysis of the competitive situation including vendors’ market shares is performed, along with detailed profiles of the key vendors in the industry. The base year is 2008 with forecasts running through 2013. The market is further divided into two sub-segments including marine oil omega 3 ingredients and algae oil omega 3 ingredients.
Frost & Sullivan analysts thoroughly examine dietary supplements, functional foods and beverages, animal and pet feed, pharmaceuticals and infant and clinical nutrition.
The 14,000 papers published about omega 3 EPA/DHA have greatly improved the credibility of these polyunsaturated fatty acids (PUFAs) as vital functional ingredients, the report states. This heightened consumer awareness has had a telling effect on the growth charts. Manufacturers that recognize the link between consumer awareness and marketability of the products are branding their ingredients on consumer food and beverage products.
Meanwhile, the Global Organization of EPA & DHA Omega-3 (GOED), an industry organization, has offered funding to Purdue University in the U.S. to establish the Omega-3 Learning Consortium for Health and Medicine to provide credible information regarding omega 3 fatty acids to consumers, health professionals and the media.
“Industry associations have been successfully formed to protect their interests and voice their opinions to government agencies charged with regulating food ingredients,” says the analyst of this research. “These associations play a critical role in addressing crucial legislative challenges facing the industry and in providing opportunities that benefit the overall growth of the market.”
The projected 10% compound annual growth rate (CAGR) from 2008 to 2013 in the marine and algae oil omega 3 ingredient market is likely to jumpstart key condition-specific health markets such as cognitive health, joint health and immune health. However, the omega 3 industry is facing an increasingly complex set of technology, environmental and regulatory changes. “On February 12, 2010, the European parliament passed nutrition claims for omega 3s that will allow food products to claim they are either a ‘source of omega 3 fatty acids’ or that they contain ‘high omega 3 fatty acids,’” notes the analyst. “This is a positive development because it will enhance both consumer awareness and usage across Europe in countries where consumers already understand the value of omega 3s.”
Despite these favorable conditions, participants have a lot of ground to cover with regard to awareness and acceptance. They have been greatly assisted in their endeavors by positive media coverage. They have also benefited from the rise in the number of elderly who are predisposed to chronic illness such as cardiac disorders, strokes, osteoporosis and cancers.
“A larger number of consumers consider food products an alternative means to prevent many diseases and adverse health conditions such as cardiovascular disease (CVD),” observes the analyst. “The demand for omega 3 ingredients is directly related to the escalating incidence of CVD in developed countries and it significantly hikes the unit consumption."