Omega-3 is increasingly acknowledged worldwide for its health benefits. Scientific research supports the benefits to cardiovascular and cognitive health, while other studies highlight advantages for the nervous system, vision, among others.
In 2023, the omega-3 supplements market in Asia Pacific reached a value of USD 637.28 million. It is forecast to expand at a CAGR of 9.70% during the period from 2024 to 2030, to reach USD 1,218.45 million by 2030, according to a report from Blueweave Consulting.
Among the companies that supply omega-3 ingredients to the APAC, Epax Norway AS stands at the forefront of innovation, drawing on its extensive heritage in fish oil production. The Norwegian company offers premium omega-3 concentrates, customizable into compact, user-friendly capsules to meet individual health needs and preferences.
The company took part in Vitafoods Asia 2024, which was held from September 18-20 in Bangkok. During this event, the FoodPacific Manufacturing Journal interviewed Epax's Senior Sales Manager, Haakon Brokke. With over two decades of experience in the omega-3 sector, most of which he spent in Epax, Mr. Brokke collaborates with distribution partners and clients across the APAC region to ensure the reliable supply of premium EPAX Omega-3 ingredients.
Haakon Brokke, Senior Sales Manager, Epax Norway AS
Are there specific trends in the consumption of Omega-3 supplements across Southeast Asia?
Yes, there is a clear trend towards replacing non-concentrated oils with concentrated ones for greater consumer convenience. Additionally, consumers are increasingly seeking higher concentrations. Some companies are upgrading from natural fish oil to medium concentrates, while medium concentrates are moving towards very high concentrations. For instance, our best-selling products from ten years ago were not the same current best-selling products, as the markets demand for higher concentrations. We continuously develop new products and focus on meeting these evolving preferences.
What factors drive the demand for omega-3 in this region?
In Southeast Asia, the market for highly concentrated Omega-3 supplements is still relatively young. The primary driver of demand is increasing consumer awareness, supported by extensive scientific research demonstrating the benefits of Omega-3.
As Asian lifestyles adopt more Western dietary patterns, the intake of Omega-6 fatty acids from fast food and processed diets has risen. Omega-3 fatty acids are essential for combating inflammation and maintaining a healthy balance between Omega-6 and Omega-3 in the body. This growing awareness presents significant potential for market expansion, especially compared to more mature markets like Korea.
How does Epax tailor its Omega-3 products for this market?
At Epax, we produce a diverse range of Omega-3 concentrates with varying EPA/DHA ratios and concentrations to address different health conditions. While our products serve the global market, we offer specific formulations that cater to the unique needs of different regions. In Asia, particularly Southeast Asia, there is a high demand for our premium Omega-3D products. Scientific studies have demonstrated that the Omega-3D form effectively reduces triglycerides and offers superior absorption.
The most popular products in Southeast Asia are those with high concentrations. Over the past decade, consumer preference has shifted towards higher concentrations, preferring to take smaller capsules instead of the big ones as it’s easy to take. Typically, natural fish oil contains about 25% EPA/DHA, whereas our concentrates reach 50-80%. This concentration enables consumers to reduce their intake volume and easily combine Omega-3 with other ingredients.
What are the challenges and opportunities in this industry?
One of the main challenges and opportunities lies in effectively communicating the benefits of concentrated Omega-3 and distinguishing our products from competitors. Southeast Asia is still a developing market for us, with customers in Thailand, Vietnam, Singapore, Malaysia, and indirect customers in Indonesia. Differentiating our products in a less saturated market remains an ongoing challenge.
However, there are significant opportunities to educate consumers about our new ideas, product concepts, and health benefits associated with Omega-3. Extensive documentation supports Omega-3’s benefits for cardiovascular health, brain function, and prenatal care. Markets like Vietnam, which have a younger demographic compared to Thailand and Malaysia, are experiencing rapid growth, offering fertile ground for expanding our presence.
What are your plans in the region?
Our primary plan is to continue expanding the market and disseminating information about Omega-3 and our product quality. This involves ongoing efforts to develop market outreach and engage new customers. We aim to solidify our presence in Southeast Asia by maintaining our commitment to high-quality Omega-3 concentrates and addressing the specific needs of consumers in this dynamic region.
Could you share your outlook for the coming year?
The outlook is positive despite some challenges, such as raw material shortages and increasing costs. Fortunately, the recent fishing season has alleviated the raw material shortages, and prices are beginning to stabilize. We remain optimistic as the overall situation improves. Based on our interactions with current and potential customers in Vitafoods Asia 2024, interest in high-concentration Omega-3 products is strong, indicating a growing market.