Demand for premium petfood drives market for EPA/DHA
Packaged Facts' report projects market for EPA/DHA omega 3-fortified products to reach US$34.7 billion by 2016
Global consumer spending on EPA/DHA omega 3-fortified products, such as petfood, is expected to grow from US$25.4 billion in 2011 to US$34.7 billion in 2016, according to a report released by Packaged Facts.
Demand for products enhanced with EPA/DHA will reach a compound annual growth rate of 6.4 percent over the period from 2011-2016. The report attributes much of this growth to the continued humanization of pets and demand for premium petfoods.
Geographically, North America currently accounts for 43 percent of consumer sales of these enhanced products, but Asia-Pacific is projected to grow to a close second by 2016.