ROCKVILLE, MD -- (Marketwire) -- 10/02/12 -- In a just-released report on The Global Market for EPA/DHA Omega-3 Products, Packaged Facts projects that global consumer spending on EPA/DHA 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%.
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 position 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 class 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.
For more information, please visit http://www.packagedfacts.com/Omega-Global-Product-6385341/ or MarketResearch.com
About Packaged Facts - Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, consumer packaged goods (including foods and beverages, health and beauty care, and household products), and pet products and services. Packaged Facts also offers a full range of custom research services. To learn more, visit: www.packagedfacts.com. Follow us on Facebook, LinkedIn, Twitter, and http://packagedfacts.blogspot.com/
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