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EPA/DHA Omega-3 Products Market to Hit $35 Billion by 2016

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By: Sean Moloughney

Editor, Nutraceuticals World

Global consumer spending on EPA/DHA omega 3 fortified products will jump from $25.4 billion in 2011 to $34.7 billion in 2016, for a compound annual growth rate of 6.4%, according to a new report from Packaged Facts titled “The Global Market for EPA/DHA Omega-3 Products.” By geographic region, North America currently accounts for 43% of these consumer sales, but Asia-Pacific is projected to jump to a close second-place by 2016.
These figures, based on research commissioned by the Global Organization for EPA and DHA Omega-3 (GOED) and presented at the GOED Exchange 2012 conference in Boston, cover six categories of packaged consumer products: infant formula; fortified foods and beverages; nutritional supplements; pharmaceuticals; clinical nutrition products; and pet food, treats and supplements.
Expanding public awareness of EPA/DHA omega 3 health benefits through media coverage of research findings, as well as developments in the regulatory environment, will spur continued growth in the global market for EPA/DHA omega 3 products. According to David Sprinkle, publisher of Packaged Facts, other factors that will continue to create a positive growth environment for EPA/DHA omega 3 products include: consumer interest in functional food and fortified product line expansions; increasing demand for fortified infant formula due to population growth and rising middle classes in emerging economies; continued popularity of EPA/DHA omega 3 nutritional supplement products, including krill oil and vegetarian algae-based supplements; introduction of pharmaceutical-grade products into South America and approval of generic pharmaceuticals in existing markets; expanding clinical nutrition market opportunities for disease- and disorder-specific formula applications, created through additional R&D and aggressive marketing by ingredient suppliers; and premiumization of pet foods due to humanization of companion animals.

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