The GOED Exchange 2014 brought together industry heavyweights, leading academics, and GOED members for presentations and discussions of the latest research in this multi-billion dollar segment.
Key lessons included statements from Adam Ismail, GOED’s executive director, that only 17 countries in the world have a mean intake of EPA + DHA that meet the EU’s low omega-3 recommendations (250 mg/day), and even fewer (five) have mean EPA+DHA intakes of 500 mg per day – that’s only 170 million people in the world.
The omega-3 market has experienced impressive growth over the last ten years, and estimates from GOED put the 2013 market at almost 90,000 metric tons. Dietary supplements account for 79% of the volume, with pet food coming in second (9.5%).
In terms of dollar values, Dr Aldo Bernasconi, director of information and research for GOED, said that it is currently valued at around US$ 1.81 billion globally. North America is the largest market, worth US$ 698 million.
Much more was said during this first half day, and numerous attendees were sharing the highlights and their insights via twitter. NutraIngredients-USA monitors and filters this stream of information for you.
Scroll down through the tweets below for insights and opinions from the conference.