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It is predicted that demand from the food industry will see the market for Omega-3 ingredients rise substantially over the next few years, a report from the market research and consulting firm MarketsandMarkets said. According to the report, market revenue of the omega-3 fatty acids market stood at US##Article##,482m in 2010 and a compounded annual growth rate (CAGR) is expected of 13.8% between 2011 and 2016. “The consumption is expected to cross 210,000 tonnes by 2016. Growth is particularly high in Europe and Asia Pacific [APAC] region because of increasing awareness levels and a higher rate of occurrence of heart diseases,” the authors of the report said.
The report noted that although the dietary supplements segment currently holds the largest market share of the omega-3 market, at 65%, the food and beverage segment will give it a stiff fight growing 26.2% from 2011 to 2016. “The consumer is thus following the mantra of precaution is better than cure and is more interested in incorporating foods and beverages items rich in omega-3 fatty acids in their regular diets,” the authors said. This is forcing food and beverage companies to incorporate omega-3 in their products, the report said.
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