There were a total of six categories the report measured: fortified food and beverages, dietary supplements, infant formula, clinical nutrition and medical foods, pharmaceuticals, and pet food.
“In the US, food/beverages and infant formulas are the largest segments of the market,” said Ellen Schutt, communication director of GOED. “But keep in mind that these are premium products, containing only a small amount of EPA and DHA.”
She also added that the smallest market, clinical nutrition, had the highest growth potential through 2017.
In the global market
According to the report, the largest portion of the global $31.4 billion came from Asia (36%). This was followed by 32% from North America and 26% from Europe. “The Rest of World category and Latin America added a little over 2% each, while Australia/New Zealand contributed another 1.5%,” a press release about the report said.
Globally, growth is estimated to be around 5%, while Asia is expected to experience double digit growth. “Growth by segment will be led by infant formula, with 8+% expected, while clinical nutrition also shows promise with 6% growth predicted. Dietary supplements will continue to grow, but at rates below 5%,” the press release said.
Data was collected from a variety of primary and secondary sources, the organization said. For primary, it included extensive feedback by GOED member companies.
Secondary sources included international trade and customs data, national and international catch and production statistics, financial statements of public companies, reports and databases from national and international agencies (FAO, etc.), and sales data (Nielsen, SPINS).