Frost & Sullivan: Consumers Becoming Increasingly Savvy About Marine and Algae Oil Omega-3 Ingredients
By Frost Sullivan, PRNEMonday, July 19, 2010
LONDON, July 20, 2010 - The flood of scientific evidence on omega-3 eicosapentaenoic
acid/docosahexaenoic acid (EPA/DHA) has significantly buoyed the credibility
of polyunsaturated fatty acids (PUFAs) as vital functional ingredients.
Heightened consumer awareness has had a telling effect on the healthy growth
charts of the marine and algae oil omega-3 ingredients market.
(Logo: photos.prnewswire.com/prnh/20081117/FSLOGO) (Logo: www.newscom.com/cgi-bin/prnh/20081117/FSLOGO)
New analysis from Frost & Sullivan (www.food.frost.com), Strategic
Analysis of the European Marine and Algae Oil Omega-3 Ingredients Market,
finds that the market earned revenues of $323.0 million in 2008 and estimates
this to reach $ 525.6 million in 2013.
Manufacturers who recognize the link between consumer awareness and
product marketability are branding their ingredients on consumer food and
beverage products. Meanwhile, the Global Organization of EPA & DHA Omega-3,
an industry organization, has funded Purdue University in the U.S. to
establish the Omega-3 Learning Consortium for Health and Medicine to provide
credible information about 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 Frost & Sullivan Research Consultant
Christopher Shanahan. "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 percent 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 technological, environmental and regulatory
changes.
"On February 12, 2010, the European Parliament approved nutrition claims
for omega-3s allowing food products to claim they are either a 'source of
omega-3 fatty acids' or that they contain 'high omega-3 fatty acids'," notes
Shanahan. "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 favourable conditions, participants have a lot of ground to
cover with regard to awareness and acceptance. They have been greatly
assisted in their endeavours by positive media coverage. They have also
benefited from an ageing population that is more 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 Shanahan. "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."
If you are interested in more information on this study, please e-mail
Monika Kwiecinska, Corporate Communications, at monika.kwiecinska@frost.com,
with your full name, company name, title, telephone number, company e-mail
address, company website, city, state and country.
Strategic Analysis of the European Marine and Algae Oil Omega-3
Ingredients Market is part of the Food & Beverage Ingredients Growth
Partnership Services program, which also includes research in the following
markets: Strategic Analysis of the North American Marine and Algae Oil
Omega-3 Ingredients Market, Strategic Analysis of the Asia Pacific Marine and
Algae Oil Omega-3 Ingredients Market, U.S. and Europe Nutricosmetics
Ingredients Markets, Global Probiotic Markets, Global Stevia Markets and
Global Bone & Joint Health Ingredients, among others. All research services
included in subscriptions provide detailed market opportunities and industry
trends that have been evaluated following extensive interviews with market
participants.
About the Chemicals, Materials and Food Practice
Frost & Sullivan's Chemicals, Materials & Food practice provides global
industry analysis, growth consulting, market research, market forecasts and
insights into emerging technologies. This enables clients to address current
trends and challenges, identify new technologies and take advantage of
opportunities for growth. Our global team of industry experts, consultants,
market analysts and research executives monitor the use of chemicals and
materials in Transportation, Construction & Utilities, Personal Wellbeing,
Personal Protective Equipment and Food & Beverages.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to
accelerate growth and achieve best-in-class positions in growth, innovation
and leadership. The company's Growth Partnership Service provides the CEO and
the CEO's Growth Team with disciplined research and best-practice models to
drive the generation, evaluation, and implementation of powerful growth
strategies. Frost & Sullivan leverages over 45 years of experience in
partnering with Global 1000 companies, emerging businesses and the investment
community from 40 offices on six continents. To join our Growth Partnership,
please visit www.frost.com.
Strategic Analysis of the European Marine and Algae Oil Omega-3
Ingredients Market
M53F
Contact: Monika Kwiecinska Corporate Communications - Europe P: +48-22-390-4127 F: +48-22-390-4160 E: monika.kwiecinska@frost.com
www.frost.com
Monika Kwiecinska of Frost & Sullivan Corporate Communications - Europe, +48-22-390-4127, fax, +48-22-390-4160, monika.kwiecinska at frost.com
Tags: Frost & Sullivan, ireland, July 20, London, United Kingdom