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Follow on Google News | Packaged Facts: Growth Prospects for Omega-3 Products Remain PositiveDemand for omega-3 products will grow briskly over the 2011-2015 period, and will influence the activities of manufacturers and marketers worldwide in supplying omega-3 products across various categories and segments of consumer packaged goods.
By: Packaged Facts Correspondingly, the number of consumers who are seeking out high-omega products has increased dramatically over the past few years. In the U.S. market, for example, 9% of grocery shoppers buy high omega-3 food or beverage products in a typical grocery shopping trip, and the percentage of adults who take fish oil supplements has jumped from 8% in 2006 to 17% in 2011. In addition, consumers increasingly regard health and beauty care products as extensions of the foods they eat. What has emerged, according to David Sprinkle, publisher of Packaged Facts, is a new (and sometimes paradoxical) Packaged Facts estimates that global consumer spending on omega-3 food and beverage products (excluding fish), health and beauty care products (including supplements) Several factors combine to create a very positive growth environment for omega-3 products. These include expanding medical, governmental, and public awareness of omega-3 and its wide range of health benefits; continued consumer receptiveness to functional food and supplement products; positive mainstream and trade media reporting; and increased market participation by major marketers. Intriguing new sources of omega-3s—ranging from krill and calamari to cranberry and chia seed and to long under-appreciated hemp—are also making it easier for manufacturers to market high-omega products. This has led to a dramatic expansion of the range of retail products available, including options for vegetarian consumers. Hurdles do remain for the omega-3 products market. The medical and regulatory communities have not yet fully arrived at a consensus on the optimal intake of omega-3 fatty acids, or the relative benefits of increased consumption of marine- vs. plant-based omega-3 fatty acids, although scientific research has generally focused on the health benefits of DHA and EPA omega-3 from marine sources such as salmon or algae. Correspondingly, there is confusion among consumers who associate “omega-3” with fish and fish oil rather than flax or other plant-based sources that are used in omega-3 fortification of foods. Nonetheless, favorable European regulatory changes for omega-3 health claims are expected in 2011, and should ultimately further boost the omega-3 product marketing environment globally. Omega-3: Global Product Trends and Opportunities focuses on packaged retail products that are marketed as high in omega-3 fatty acids, whether these products are inherently high in omega-3 or purposefully enhanced or fortified with this nutritional content, and whether the omega-3 content is docosahexaenoic acid (DHA), eicosapentaenoic acid (EPA), or alpha linolenic acid (ALA). In analyzing the omega-3 consumer products market and new product dynamics from a global perspective, this report pinpoints opportunities in an industry that has grown explosively but remains far from reaching maturity. For further information, please visit: www.packagedfacts.com/ # # # About Packaged Facts – Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer goods and retailing, foods and beverages, demographics, pet products and services, and financial products. Packaged Facts also offers a full range of custom research services. To learn more, visit: www.packagedfacts.com. Follow us on Facebook, LinkedIn and Twitter. Contact: Daniel Granderson dgranderson@ End
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