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As evidence, the company announced plans this week to invest $30 million in its Nova Scotia omega-3 facility.
8/29/14: CORRECTION: Omega-3s DHA and EPA have made the first cut in the nomination process to obtain a Dietary Reference Intake (DRI) review; they have not yet been officially accepted for review. Nutritional Outlook apologizes for the error.
The once-thriving omega-3 industry has seen significant market decline over the past year. Nielsen data estimates a $149 million decline in U.S. mass-market sales between mid-2013–April 2014. But omega-3 fatty acids supplier DSM (Parsippany, NJ) says it is confident in the market’s return and long-term potential. As evidence, the company announced plans this week to invest $30 million in new capital to upgrade and expand its Nova Scotia omega-3 facility.
“This investment of $30 million is another example of DSM's ongoing commitment to the nutritional industry in North America, as well as to the communities in which our people live and work," said Hugh Welsh, president of DSM, North America, in a press release. “We have high confidence in the science of omega-3s as well as the future market for omega-3s.”
DSM became one of Nova Scotia’s largest life sciences employers when it acquired omega-3 ingredients firm Ocean Nutrition, maker of the MEG-3 line of omega-3 oils, in 2012. Additionally, in 2010, DSM acquired Martek Biosciences, maker of the life’sDHA line of omega-3 ingredients.
DSM, along with the Global Organization for EPA and DHA Omega-3s (GOED) and other industry members, recently formed The Omega-3 Coalition, an industry group dedicated to strategizing omega-3s’ return.
A strategic recovery includes counteracting the negative media messaging ongoing in the past year, said Will Black, DSM North America’s vice president of marketing. “Omega-3 from fish oil is one of the most-studied nutrients in the last 30 years. Despite the well-established, scientifically proven health benefits of omega-3s, many consumers do not obtain enough from their daily diets. Unfortunately, there has been a slowdown in the omega-3 consumption over the past two years, caused in large part by negative media coverage of questionable scientific studies. Consumers get confused with these conflicting messages, so in addition to investing in hard assets, DSM will continue to invest in more science and consumer advocacy and education of omega-3,” he said.
Good news on the regulatory front always helps. Read Nutritional Outlook’s report on omega-3s DHA and EPA making the first cut in the nomination process for a Dietary Reference Intake (DRI) review.
Also, look for in-depth coverage on the omega-3 market’s downturn in Nutritional Outlook’s upcoming September issue.
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