EPAX announces de-merger after 'banner' year of growth
from its parent company Pronova Biocare, after experiencing 25 per
cent growth for 2005.
According to Frost and Sullivan/ Euromonitor, the European omega-3 market was worth around €160m (£108m) in 2004, and is expected to grow at rates of 8 per cent on average to 2010.
For 2005 the average growth in the omega-3 industry was 8.7 per cent, well below that reported by Epax.
Omega-3 supplementation of products has been a major growth area in the neutraceutical market. According to Mintel's Global New Products Database (GNPD) the launch of omega-3-containing product across Europe has increased from 153 in 2004 to 208 in 2005. 2006 has seen 72 launches so far.
Bjorn Refsum, CEO of Epax, said in a statement: "The market is showing an increasing demand for omega-3 oils that exceed the standards for purity in the industry. This is great news for consumers who are taking omega-3 supplements."
The benefits of fresh oily fish or omega-3 supplements and enriched foods continue to be debated by experts. The presence of pollutants in fresh fish like methyl mercury, dioxins, and polychlorinated biphenols (PCBs) have led to some claims to reduce fresh fish intake, especially for pregnant women who may damage the development of their babies.
Most extracted fish oil are molecularly distilled and steam deodorised to remove contaminants.
Epax's restructuring will enable the company to concentrate solely on omega-3 production.
"We are excited about what our new structure means for our customers. As our own company, we are able to solely focus on producing the highest quality omega-3 oils and have full control over tailoring the services we offer to our customer," said Refsum.
The same company statement went on to say however that much has stayed the same since the de-merger.
