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The Omega-3 Market and How High Concentrates Play a Role

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Presentation by Adam Ismail, Global Organization For Epa And Dha Omega-3. Presented at the BASF Human Nutrition Omega-3 Seminar in Jakarta on August 24, 2016.

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The Omega-3 Market and How High Concentrates Play a Role

  1. 1. The Omega-3 Market and How High Concentrates Play a Role August 24, 2016
  2. 2. GOED has conducted consumer surveys in 21 omega-3 markets These countries account for 60% of the world population
  3. 3. Due to natural limitations of Internet surveys in many Asian countries, these surveys may not be nationally representative. They are, however, representative of the urban middle class - the most likely consumers of omega-3s. Remember, what consumers say is different from what they do, but is still a good metric of their aspirations. Internet Surveys of Consumer in Asia (2016) 2016: 525 M people 2030: 3.24 B Source: OECD
  4. 4. The APAC market for EPA and DHA products is reliant on infant formula, but there are some key opportunities Source: GOED Analysis US$ 10.99 Billion Infant Formula Pet Foods 2014 Consumer Spending on Omega-3 Products 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%0% Global Asia Pacific Functional Food Supplements Pharmaceutical Clinical Nutrition US$ 31.40 Billion
  5. 5. 69% SE Asia has overcome the awareness hurdle. China and Japan are two of the largest omega-3 markets, despite lower awareness of these nutrients. The potential in the rest of Asia does not face an awareness barrier. Source: GOED Proprietary Consumer Research Vietnam Indonesia Malaysia Australia China Japan 97% 96% 95% 80% 50% 75% 100% South Korea 95% 95%
  6. 6. Source: GOED Proprietary Consumer Surveys 2016 Stated Usage of Various Types of Omega-3 Products Consumers claim to use a high proportion of omega-3s, which may or may not be accurate in some countries
  7. 7. What is going on in Indonesia? These usage rates seem very high! ●When consumers identify themselves as user, they may not be taking omega-3 products every day ●Consumers claiming to eat omega-3 fortified foods and supplements may mean they are consuming ALA products, not EPA and DHA
  8. 8. Frequency of Usage of Omega-3 Functional Foods Source: GOED Proprietary Consumer Surveys 2016 Indonesia has the highest proportion of consumers using omega-3 foods the least frequently
  9. 9. Daily Usage of Omega-3 Supplements as a Proportion of All Users Source: GOED Proprietary Consumer Surveys 2016 In Japan, the users of omega-3 supplements are most likely to be compliant, while in China they are least likely
  10. 10. Age Distribution of Omega-3 Supplement Users Source: GOED Proprietary Consumer Surveys 2016 Except for Japan, most APAC omega-3 users are younger to middle-aged consumers in supplements... China 25 45 Indonesia 26 42 Japan 35 58 Malaysia 26 46 Vietnam 23 36 Middle50%ofUsers
  11. 11. Age Distribution of Omega-3 Functional Food Users Source: GOED Proprietary Consumer Surveys 2016 China 27 40 Indonesia 25 39 Japan 35 59 Malaysia 28 45 Vietnam 23 35 Middle50%ofUsers ...and functional foods
  12. 12. Reasons Supplement Users Started Taking Omega-3s Source: GOED Proprietary Consumer Surveys 2016 Supplement users often have many reasons for starting an omega-3, but overall wellness tends to be a main driver ● Indonesia and Japan are the two markets where Wellness and Brain Health are top reasons ● Japan and Malaysia are the two countries with low emphasis on Heart Health, but are also the two lowest in Heart Disease rates ● In Asia-Pacific countries, Brain Health tends to outrank Heart Health, but in Western countries the opposite is true
  13. 13. % of Female Omega-3 Users That Started Taking Omega-3s Due to Pregnancy Source: GOED Proprietary Consumer Surveys 2016 There are some key times to start recruiting supplement users...during pregnancy for example
  14. 14. % of Supplement Users That Started Taking Omega-3s Due to Pregnancy Source: GOED Proprietary Consumer Surveys 2016 And actually what you see is that gatekeeper will influence the whole family’s decisions
  15. 15. Sources of Health Information Among Omega-3 Users Source: GOED Proprietary Consumer Surveys 2016 ● Indonesian, Malaysian and Vietnamese omega-3 users rely primarily on a doctor or pharmacist’s advice for health information ● Japanese and Chinese consumers tend to do their own internet research There are two distinct patterns among countries in how omega-3 users seek out information
  16. 16. Influencers of Brand and Product Choice Among Omega-3 Users Source: GOED Proprietary Consumer Surveys 2016 There are interesting clusters of influence that drive the specific products omega-3 users choose %ofUsers
  17. 17. Population Who Have Never Used an Omega-3 Supplement Source: GOED Proprietary Consumer Surveys 2016 One key target audience are the people who have never used omega-3s, but China is the largest opportunity Non-Usage Rate Non-Usage Population
  18. 18. Source: GOED Proprietary Consumer Surveys 2016 Reasons for Never Using an Omega-3 Education is still the single most valuable tool industry has in convincing consumers to take omega-3 products Product Characteristics Education Economic
  19. 19. Population Who Have Used an Omega-3 Supplement But Stopped Source: GOED Proprietary Consumer Surveys 2016 Lapsed Users are another key population because they stopped using omega-3s and could come back Lapsed Usage Rate Lapsed Usage Population
  20. 20. Lapsed Users Agreement That Omega-3s Are Beneficial Source: GOED Proprietary Consumer Surveys 2016 Lapsed Users generally believe omega-3s are important, so their reasons for stopping lie elsewhere
  21. 21. It is important to consider how omega-3s will be sold in the future. The biggest growth opportunities are still to come in Africa and Asia
  22. 22. Economic Development versus EPA+DHA Intakes in Asia and Africa, 2013 Much of Africa and Asia are developing quickly and are at levels where omega-3s can be attainable to the masses WHO GOED Source: World Bank, NUTRICoDE
  23. 23. There are still tremendous growth opportunities in Asia for high concentrates...the market is only now being established Implications for Brand Marketers of Concentrates As many APAC markets move from infancy, novel products like high concentrates will grow rapidly just by adding new competition to the market. High concentrates are made in very sophisticated factories and should avoid some of the other quality issues that have plagued other markets like infant formula or cod liver oil
  24. 24. It is important to consider how omega-3s will be sold in the future. Refiners will add more value for their customers by addressing consumer issues
  25. 25. Innovation in communication is needed to target lapsed users and to stand out among other priorities Source: GOED Proprietary Consumer Surveys 2016 Reasons for Not Using an Omega-3 Amongst Lapsed Users
  26. 26. Ingredient manufacturers are being pressured to solve convenience and education issues, even though they affect the whole value chain Convenience Education ● Building encapsulation into the refining value chain ● Equity partnerships with encapsulators ● Development of new forms like emulsions and tablets ● Moving down the value chain ● Industry-led marketing campaigns ● More health claim applications ● Building bridges to mainstream doctors ● Diagnostics and the quantified-self Novel Solutions to Address:
  27. 27. Manufacturers of high concentrates have done extensive work on understanding how to market these products Implications for Brand Marketers of Concentrates Brand marketers should rely on their suppliers for consumer insights that will affect your marketing strategies BASF has completed an extensive survey of how omega-3 products are marketed and have identified key opportunities for how to market high concentrates
  28. 28. It is important to consider how omega-3s will be sold in the future. The internet is going to become a bigger force in consumer purchases of omega-3s
  29. 29. 21% Annual growth of Internet sales for nutrition products in the US Total E-commerce Sales in China Compared to the US 1.7x Source: Nutrition Business Journal, KPMG, Google 760 Omega-3 Products Advertising in Google Product Search 3x E-Commerce Sales in China on 11/11 Compared to Cyber Monday in the US
  30. 30. Quality Price Convenience ● Buying products from quality rating sites ● Extreme traceability back to the fishery ● Competing against store brands for omega-3s ● Dynamically pricing products based on area ● Delivery to remote areas ● Quantified self movement linking to omega-3 index ● Auto-delivery & engagement There are plenty of examples of how companies are tinkering with this today in omega-3s to compete against traditional retailers
  31. 31. Source: GOED Proprietary Consumer Survey, Dec 2015 / Jan 2016 The internet has also become the most trusted source of health information in Japan and China Primary Sources of Health Information Among Omega-3 Users
  32. 32. The internet will provide new opportunities for high concentrates Implications for Brand Marketers of Concentrates The flexibility of the internet will allow for new business models like an omega-3 index test plus a tailored high concentrate supplement
  33. 33. It is important to consider how omega-3s will be sold in the future. There will be a continued trend towards convenience
  34. 34. US FDMx Market Share of Convenience Forms Source: AC Nielsen XAOC data 13% 27% Small pills Emulsions Liquids Gummies In the US, convenience forms are growing rapidly, doubling in size over a period of two-and-a-half years
  35. 35. The rise of more convenient forms of omega-3 products are ideal for high concentrates Implications for Brand Marketers of Concentrates High concentrates open up two new markets for omega- 3 consumers: the super-premium high dose supplement market and the mini-softgel market High concentrates can also be desirable for liquid, emulsion and powder forms of omega-3s where the EPA and DHA are diluted by other ingredients
  36. 36. BrainHealth
  37. 37. Source: Norwegian Scientific Committee for Food Safety Proteins Phospholipids Fatty Acids EPA and DHA have four known biological functions. They are incorporated as structural components of cell membranes, increasing fluidity and allowing for proper functioning of proteins EPA and DHA Fatty Acids
  38. 38. Source: Norwegian Scientific Committee for Food Safety Proteins Phospholipids Fatty Acids EPA and DHA have four known biological functions. They are oxidized to generate bioactive metabolites called eicosanoids and docosanoids that help regulate inflammation in the body EPA and DHA Fatty Acids Eicosanoids and Docosanoids Mitochondria
  39. 39. Source: Norwegian Scientific Committee for Food Safety Proteins Phospholipids Fatty Acids EPA and DHA have four known biological functions. Modulate enzyme activity, including inhibiting protein kinases and preventing increases in calcium and potassium in cells EPA and DHA Fatty Acids Eicosanoids and Docosanoids Mitochondria Enzymes
  40. 40. Source: Norwegian Scientific Committee for Food Safety Proteins Phospholipids Fatty Acids EPA and DHA have four known biological functions. Regulate expression of genes involved in inflammation, cell proliferation, cell death, and oxidative stress EPA and DHA Fatty Acids Eicosanoids and Docosanoids Mitochondria DNA Enzymes
  41. 41. Alzheimer’s and dementia is on the rise in Asia Alzheimer and Dementia Death in Asia... ...and Disability Adjusted Life Years Lost Source: Institute for Health Metrics Evaluation MillionsofDALYs Deaths
  42. 42. Self-Identified Health Priorities of APAC Consumers Source: GOED Proprietary Consumer Surveys 2016 Consumers care about maintaining their cognitive function
  43. 43. The evidence to support brain health as we age is mixed, but this may be due to study design Anecdotal Ideas, Expert Opinions, Editorials Case Studies Cross-sectional surveys Case Control Studies Cohort Studies RCTs Systematic Reviews & Meta Analyses of RCTs Hierarchy of Evidence in Evidence-Based Medicine No systematic review or meta-analysis has ever found that EPA/DHA can treat Alzheimer’s. A recent comprehensive meta-analysis found that >1g of DHA improved episodic, semantic, and working memory in adults, regardless of cognitive status. A few meta-analyses have seen benefits in brain function and memory in people with mild cognitive impairment without dementia. More evidence is needed. 1. Alzheimer’s Disease 2. Memory 3. Mild Cognitive Impairment Source: NIH, GOED, Yurko-Mauro et al 2015, Mazereeuw et al 2012
  44. 44. 500 1000 1500 Studies Showing Benefits Studies Showing No Benefits DHA (mg/day) Omega-3 Cognitive Function Studies and Their Outcomes Sorted by DHA DosageDosage is of critical importance in brain health studies! Freund-Levy et al 2006 Sinn et al 2012 Lee et al 2013 de Waal et al 2014, Pardini et al 2015, Scheltens et al 2014 Stonehouse et al 2013 Strike et al 2015 Yurko-Mauro et al 2010 Külzow et al 2016, Witte et al 2014 Boespflug et al 2016, Fontani et al 2005, Johnson et al 2008 Chiu et al, 2008, Rondanelli et al 2012 Tokuda et al 2015 Nilsson et al 2012 Hashimoto et al 2016 Rogers et al 2008, van de Rest et al 2008 Dangour et al 2010, Konagai et al 2013 Karr et al 2012 Jackson et al 2012 Benton et al 2012, Bauer et al 2011, Bauer et al 2014 Cukierman-Yaffe et al 2014, Chew et al 2015 Jaremka et al 2014, Stough et al 2012 Jackson et al 2014, Andreeva et al 2011 van de Rest et al 2008 Geleijnse et al 2012, Sinn et al 2012 Jaremka et al 2014, Kotani et al 2006 Quinn et al 2010, Jackson et al 2016, Köbe et al 2015
  45. 45. ● Indonesia and other Asia-Pacific countries present an attractive opportunity for the omega-3 market ● Consumers in the Asia Pacific region spend about $2.7 billion on EPA and DHA fortified foods and supplements, or less than $1 per capita annually ● The best estimates of EPA and DHA intake in Indonesia indicate about half of the population is not consuming enough ● The Indonesian consumer is generally aware of omega-3s and believes they are effective, but needs education about EPA and DHA ● The typical Indonesian omega-3 consumer is in their mid- 30s and brings their family along with them on their journey, but has low compliance Summary
  46. 46. Questions? adam@goedomega3.com
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Presentation by Adam Ismail, Global Organization For Epa And Dha Omega-3. Presented at the BASF Human Nutrition Omega-3 Seminar in Jakarta on August 24, 2016.

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