Jacobson a Hong
Kong-based Pharma group is planning on launching two omega-3based products with
the name of Smartfish-Reflect and Smartfish Cream. The firm is planning to
launch the two products at the start of 2020 in China and Taiwan. The aim of
these products is to target the aging population that is expected to cover
one-third of Asia's population in 20 year time and hence increased demand in
preventative and functional supplements.
The main
ingredient of the two products is the omega-3 fatty acids EPA and DHA that are
obtained from cod. The products are targeting a wide range of ages and
therefore, the content of omega-3 in cream is kept lower at about 600mg as
compared to the other product that is in liquid form and is intended for adult
usage. Jacobson has signed the agreement for the distribution and supply of
this product till the span of 10 years. The products are being manufactured in
Sweden and Finland. Jacobson is also planning on launching more products from
the same line in near future to capture the ever-growing demand for nutritional
and functional supplement markets in the country. Jacobson is a leading
pharmaceutical company in Hong Kong integrated into research, development,
production, sales, and distribution of generic drugs and proprietary medicine.
Impact of new Products on Omega-3 Market in China:
China is the
fastest-growing consumer market for omega-3 products because of increased
consumer awareness that is buoyed by the ingredient's sports nutrition
potential and growth opportunities for personalized nutrition. In 2018, China's per capita spending on
omega-3 supplements stand at US $0.26- half of Asia's total average, which
indicates positive and steady growth. Therefore, many local companies were
motivated to invest in this ingredient and start capturing the demand in the
market. However, there was concern raised about the quality of some omega-3
oils and products sold in the country. These concerns shifted the trust of
Chinese consumers from local brands to international ones and therefore, now
more Pharma enterprises are focusing on bringing finished products from
international markets.