Croda inks international omega-3 distribution deal
The exclusive deal, New Zealand-based Speirs Nutritionals will also microencapsulate Croda's Incromega-branded fish oil concentrates into omega-3 emulsions for incorporation into food and beverages in the selected markets.
The aim of the arrangement is to deliver high-potency omega-3 foods and drinks.
Vice president for Croda Europe's Health Care division, Dr David Cherry, said in a statement, the company would aggressively market the Speirs-made omega-3 emulsions.
The range, called Ωmelife, would be launched at the Vitafoods trade show in Geneva in May, and a dedicated sales staff had been employed.
Speirs Nutritional's general manager, David Speirs said: "This agreement will see a New Zealand-science breakthrough moved to international commercial application in the fast-growing global market for functional foods with specific health benefits.”
He said the company had developed technology and production capacity with the ambition of supplying “a major share of the total current world demand for omega-3 emulsions. Our capabilities are well-matched."
Vice president of Croda Europe Health Care, Dr David Cherry, said Speirs was selected because of the advanced state of its processing technology.
“We consider the Speirs technology as a significant step forward in this market, allowing versatile delivery of very high omega-3 levels without any impact on taste,” Cherry said.
Croda last year launched a krill/fish oil suite of ingredients in conjunction with Canadian krill oil supplier, Neptune Technologies & Bioresources.
It used last year’s VitaFoods show to debut a relatively unknown omega-3 form – docosapentaenoic acid (DPA) – a 22-chain omega-3 as is DHA (docosahexaenoic acid).
Market researcher Frost & Sullivan put the European omega-3 ingredients market at about €187m in 2007, and predicted it would grow to €820m by 2014 – a compound annual growth rate (CAGR) of 23.6 per cent.
