Omega-enriched foods and beverages have entered an explosive growth phase in the global retail market. Since 2003, thousands of foods and beverages enriched with omega fatty acids have been introduced worldwide. Marketers really did not start touting the omega content of enhanced foods until late 2004, after the Food and Drug Administration (FDA) moved to allow a number of nutrient content claims for these powerhouse fatty acids. Nearly 1,300 new omega-3-enriched products were introduced in Europe and North America in 2007. In 2008, the omega-enriched food sector is operating under what is termed a “healthy halo,” defined by three primary parameters—public awareness of omega fatty acids, proven scientific benefit and a willingness by the consumer to purchase these products. The global market for foods and beverages enhanced with omega-3, omega-6 and omega-9, as defined in this report, has been estimated by Packaged Facts at $4.6 billion the end of 2007.
A number of drivers are propelling this market in addition to an avid consumer base. These include innovative formulations and technology advancements that are expanding the products amenable to enhancement with omegas. Also, methods of stabilizing omega-containing products to inhibit oxidation (which causes the fishy smell associated with fish-oil-based omega-3) have resulted in improved taste as well as extended shelf life. In the U.S., the FDA in 2007 implemented guidelines for Good Manufacturing Practices (GMP) for nutraceuticals companies, resulting in greater oversight of and confidence in the companies producing omega-enhanced products.
Omega Fatty Acids: Trends in the Worldwide Food and Beverage Markets, 2nd Edition contains comprehensive data on the global market for foods and beverages enhanced with omega-3, omega-6 and omega-9 fatty acids. Historical retail sales data (2003-2007) and forecast data (2008-2012) are provided for the global and selected international markets (U.S., Europe, Asia/Australia). The report discusses key trends affecting the marketplace, trends driving growth and consumer demographics. The report profiles major marketers of omega-enhanced products and suppliers of omega fatty acids as well as innovative companies in both of these sectors.
Read an excerpt from this report below.Report Methodology
The information in this report was obtained from both primary and secondary research. Primary research entailed in-depth, on-site examinations of supermarkets, drug stores, mass merchandisers, convenience stores, health/natural foods stores, specialty stores, and club stores. Company, distributor, and retailer interviews were conducted to obtain information on new product and packaging trends, marketing programs, distribution methods, and technological breakthroughs. Secondary research entailed data gathering from relevant sources. Included were consumer and industry publications, newspapers, government reports, financial reports, company literature, and corporate annual reports.
Overall market data is for the retail industry. No foodservice sales are included.
What Is Provided in this Report
Omega Fatty Acids: Trends in the Worldwide Food and Beverage Markets, 2nd Edition offers market and trend analysis to allow succinct assessment of this booming sector. The report balances insight into qualitative aspects of this market with comprehensive quantitative analysis.
The report addresses all retail foods and beverages marketed as containing any or all of the three omega fatty acids; however, most of the discussion, particularly market size, focuses on foods and beverages especially formulated to contain omega-3 fatty acids. Foods that inherently contain omega fatty acids such as canola oil, cranberry seeds, flaxseed, mustard seeds, salmon, walnuts, etc., all of which contain omega-3, are not the focus of this report. This report also includes a lengthy qualitative discussion of the various omega ingredients available to food formulators, including profiles on the following suppliers of these ingredients:
This report provides a valuable, timely and comprehensive exploration of the omega-enhanced food and beverage market aimed at companies already participating in this sector, companies that are considering entering this market or companies and organizations interested in activities and trends in this sector. The current market is assessed in detail, and markets and trends are projected through 2012.
This report will assist:
Market Insights: A Selection From The Report
Market-Dominant Grain-Based Foods Loses Share to New Categories in U.S. Market
Using sales data, new product roll-out information, and product availability, Packaged Facts estimates that grain-based foods (bars, breads, cereals, etc.) held 74% of the omega-3-enhanced food and beverage market at the end of 2007 (fish are excluded from this tally). This compares to an 86% share in 2006. Beverages were in second place with 12%, following by dairy—led by yogurt-based products—with 7%. Beverages held less than 1% of the market in 2006. The categories of omega-3-enriched eggs and oils/butters/margarines/cooking sprays/spreads were tied with about 3% of the market each.
The number of milk, nondairy milk and yogurt beverage product introductions surged in 2007, from 76 SKUs in 2006 to 120 SKUs in 2007. Yogurt introductions also leapt, from 20 SKUs in 2006 to 68 SKUs in 2007. Snack bars, which have been a market mainstay since 2003, increased from 57 SKUs introduced in 2006 to 72 introduced in 2007. Packaged Facts projects that by 2012, percent share will shift with beverages, dairy and oils/butters/margarines/cooking sprays/spreads continuing to gain market share.
Two Different Consumers Are Primarily Targeted
A majority of Americans have heard of most types of fats and fatty acids, with saturated fats topping the list at 91% awareness. More than three-fourths have heard of fish oils, polyunsaturated fats, trans fats, animal fats, and vegetable oils, while more than half have heard of tropical oils, partially hydrogenated oils, hydrogenated oils, omega-3 fatty acids, and monounsaturated fats. Other data of note:
Ballyhooed Omega Fatty Acids Gaining Prominence in Global Market
New York, January 13, 2009 - A unique “healthy halo” is propelling the flourishing global market for food and beverage products enhanced with omega fatty acids. The halo is characterized by public awareness of omega fatty acid compounds, their proven scientific and health benefits, consumer willingness to purchase products that contain them, and positive media exposure. In the all-new report, Omega Fatty Acids: Trends in the Worldwide Food and Beverage Markets, 2nd Edition, market research publisher Packaged Facts estimates that the global market grew 36% between 2007 and 2008.
The market for omega-3 fatty acids, perhaps the type most familiar to consumers along with omega-6 and omega-9, alone grew 34% from an estimated $3 billion in 2006 to almost $5 billion in 2007. Packaged Facts projects that the retail market for omega-3 enhanced foods will approach $8 billion by 2012. The projection reflects a compound annual growth rate (CAGR) of 32% between 2003 and 2012.
And the best has yet to come as new developments continue to annually increase the number of omega fatty acid infused food and beverage products introduced into the market. More than 1,300 enhanced food and beverage products were introduced globally in 2008, compared to 739 in 2006.
“The upsurge of products enriched with omega fatty acids began in earnest in 2006 and the market is believed to be many years away from saturation. Marketers didn’t really start touting the omega-3 content of enhanced foods until late 2004, and even once products entered the retail scene it wasn’t until early 2006 that such products appeared in mainstream U.S. supermarkets,” says Tatjana Meerman, Publisher of Packaged Facts.
Omega Fatty Acids: Trends in the Worldwide Food and Beverage Markets, 2nd Edition contains comprehensive data on the global market for foods and beverages enhanced with omega-3, omega-6 and omega-9 fatty acids. Discussed are key trends affecting the marketplace and trends driving growth and consumer demographics. Global historical retail sales data (2003-2007) and forecast data (2008-2012) are provided.
About Packaged Facts- Packaged Facts, a division of Market Research Group, publishes market intelligence on a wide range of consumer industries, including consumer goods and retailing, foods and beverages, demographics, pet, and financial products. Packaged Facts also offers a full range of custom research services.