European Omega-3 Market to Grow 23.6% Per Year

By: trademagazin Date: 2008. 07. 28. 00:00

The market was valued by researcher of Frost & Sullivan at USD 296 million in 2007 and is expected to hit the USD 1.3 billion mark in 2014.

Raw material shortages have resulted in
margin pressures for the manufacturers, who have, in general,
increased the price of omega-3 by about 15% in the last two years.
Currently 84% of the raw materials used in the production of omega-3
are marine oils.

At the moment the dietary supplements
are the leading application market with a 78% share, but the market
will be driven forward by the already well-known health benefits of
omega-3 and the widening applications which are arising, which are
echoed by heightening media and marketing efforts. Currently the
category has a 13% market share for omega-3. It is expected that, by
2014, functional foods and beverages will be at the same level or
maybe higher than dietary supplements.

80% of omega-3 goes into cardiovascular
health products. The remaining 20% is used in cognitive health
products, infant nutritional products, bone health as well as immune
health products.