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End-user Analysis of the Global Omega-3 PUFA Markets
Frost & Sullivan, Dec 2005
End-user Perceptions Pose a Major Challenge
A key challenge facing the Omega-3 polyunsaturated fatty acids (PUFA) industry is the need to overcome end users’ negative perceptions about the use of traditional PUFA sources in functional food and beverage applications. These perceptions range from instability problems and fishy tastes or odors in end products to quality and safety issues. However, advances in technology and product innovations are helping change these perceptions. Integrating Omega PUFAs into the food matrix is no longer the impossible task it once was. In fact, there are some fish oils specifically manufactured for use in functional food and beverage applications that claim to be tasteless, and can be used as an ingredient without adversely affecting the functional and sensory properties of the final product.
This Frost & Sullivan research service provides an objective analysis of end users’ key purchasing criteria for Omega-3 PUFAs. This analysis identifies the key drivers for growth as perceived by end users, thereby helping companies understand whether their critical growth objectives are in line with the demands of their end users.
Uncertain Regulatory Environment Likely to Hamper Growth
The Omega-3 PUFA industry is governed by legislation that in some countries prevents food manufacturers from making any kind of health claim on the labels of end products. This obviously hinders marketing efforts, as companies are unable to communicate the benefits of PUFA ingredients to end users.
However, the impact of this challenge is expected to decrease following the recent boost in consumer awareness about the potential benefits of Omega-3 fatty acid ingredients, notes the analyst of this research service. In September 2004, the Food and Drug Administration (FDA) extended the qualified health claim linking docosahexaenoic acid (DHA) and eicosapentanoic acid (EPA) to reduced risk of coronary heart disease from dietary supplements to foods.
Threat of Substitution Looms Large
Competition for a share of the lucrative functional food market is increasing, not only from other nutritional ingredients but also within the Omega-3 category. A case in point is the substitution of fish oil sources with less expensive vegetable oil sources. Other external substitutes include: garlic, plant sterols, and grape seed extracts.
There is very little legislation that exists to differentiate between short- and long-chain sources, says the analyst. Companies need to consider adding value to their long-chain Omega-3 PUFA sources or offering blends that contain other vitamins or complementary ingredients to differentiate themselves from their competitors. Raising the profile of the brand and maintaining strong customer relationships are also important.
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