The company’s head of bioactive ingredients division, Boaz Noy, said ongoing growth in its biggest market – the US – along with surging demand in Australia and India were the primary drivers for the expansion.
The company said the market had responded well to its MSO freshness enhancement technology.
The private company does not reveal its financial statements but sales growth figures from market leaders Neptune Technologies and Bioressources and AkerBiomarine confirm the health of the sector.
Noy said omega-3 and phospholipid rich krill recognition in Australia was rising to a level comparable to highest in the world.
“We expect the krill market will continue to grow there and that is important to us because it is the gateway to the Far East,” Noy told NutraIngredients.
Noy played down the importance of patent disputes occurring in various parts of the world within the sector, noting, “there are so many patents in the phospholipid area that some of these disputes gain far too much attention.”
In regard to a process and composition patent recently granted to Aker in Australia, Enzymotec R&D chief, Dr Sigalit Zchut, observed: “Enzymotec has been involved in the technology of producing krill oil, long before commercialization of krill oil. This patent as well as others does not limit Enzymotec or its customers from selling krill oil in Australia."
Enzymotec has been operating since 1999.