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The market for fats and oils in food
The market for fats and oils
Fats and oils are currently of great interest in the food industry. The ban by many countries on the use of trans-fats has created a considerable activity within food manufacturing with companies replacing trans-fatty acids in products with ‘healthier’ options such as polyunsaturated fatty acids (PUFAs). These PUFAs can be extracted from many sources such as:
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Fish Oil
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Pure Cod Liver Oil
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Pure Fish Oil
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Salmon Oil
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Sunflower Oil
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Safflower
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Hi-Epa Fish Oil
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Evening Primrose Oil
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Starflower (borage) Oil
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Flaxseed Oil
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Linoleic Acid
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Algae
Omega-3
Whilst it has been known for some time, it has been only recently that the importance in the diet of Omega-3 and Omega-6 fats has become widely appreciated. However, the average western diet is not deficient in Omega-6 (which is mainly derived from plant oils) but is severely deficient in Omega-3.
These Omega-3 fatty acids are vital in the healthy balance of our bodies and according to research, can assist with reduction of cholesterol and improve cardiovascular health and blood-flow.
At present Omega-3 is mainly consumed via supplementary capsules although increasing consumer awareness of benefits mean that there are now more food products which contain Omega-3 fatty acids as an added ingredient such as Flora Omega 3 Plus.
Measuring this market is difficult as levels of Omega-3 fatty acids vary between sources. Some companies now supply in concentrated or encapsulated form. RTS research onto this area indicates that the market is growing rapidly (+10% per year). We calculate that in 2006, the use of all added Omega-3 fatty acids in Europe reached a value of €250m. Of this, approximately €100m is from marine sources.
The Global Market
An analysis of the “top 50” global markets shows that total industrial usage of added oils and fats has now reached 14.4 million tonnes. Overall, this figure is growing by 1.4% year-on-year but growth varies significantly between regions. Consumer purchases in these markets are put at a further 30 million tonnes.
Growth is slowest in Europe. Not only is this due to slow growth rates in the base markets, but consumer and other pressures have been forcing manufacturers to either substitute, or use less added fat in their recipes. This contrasts sharply with Asia Pacific, where the growth in industrially manufactured foods is boosting the usage of fat as an ingredient by 2.8%, year-on-year. Eastern Europe is showing the fastest growth rate, spurred by an increase in production of added value and convenience foods.