The European market for omega-3 fish oils is likely to grow by nearly 24 per cent per year until 2014, according to analysts.
Dr Chandrasekhar Shankaar, a research analyst at Frost & Sullivan, has carried out an extensive analysis of the European omega-3 and omega-6 market and believes that the omega-3 market will hit the $1.3 billion mark in 2014, up from just $296 million in 2007.
According to Dr Shankaar, consumers will increasingly buy into health products and the well-known health benefits of omega-3 fish oils will help to increase demand for the supplements.
The analyst noted that 78 per cent of the omega-3 market is currently devoted to dietary supplements, in particular those for cardiovascular health.
Other popular applications include cognitive health products, infant nutritional products and bone health supplements, but Dr Shankaar believes omega-3s will start to appear in more functional foods and drinks in the future.
According to NutraIngredients.com, the analyst predicted: "By the end of the forecast period [2014] we do anticipate that functional beverages will have a much larger share in the omega market, and they will be more or less equal to the dietary supplements market, if not more."
The European market for omega-3 fish oils is likely to grow by nearly 24 per cent per year until 2014, according to analysts.
