Thailand’s seafood conglomerate, Thai Union Group PCL is putting substantial investment into Micro-Algal production as part of its plan to diversify its ingredients business.
This is evident from its latest US$7.65 million investment in May 2022 into Mara Renewables Corporation (Mara), a company with proven portfolio of micro-algal products and unique innovation. Canadian-based Mara is one of the world’s leading producers of sustainably grown algae-based bio-products. Since its inception in 2012, Mara has successfully built a portfolio of micro-algal strains, some of which are processed using a clean extraction method into high quality algal oil. The plant-based oil offers a non-GMO vegan option for DHA-rich omega-3 fatty acids for human nutrition. Mara’s ingredients are approved by multiple respected regulatory bodies, and are used by leading infant nutrition, supplement and food and beverage customers worldwide.
Thai Union’s commitment to sustainable nutrition aligns closely with Mara’s mission. In 2018, Thai Union started its Ingredients division to transform its co-products from fish processing into natural ingredients for human nutrition. It creates highest quality tuna oil by processing raw tuna heads through a low temperature extraction method that preserves the oil’s natural functionality. Thai Union’s tuna oil contains the highest DHA omega-3 fatty acids content compared to other fish sources.
Together with Mara, Thai Union is actively working to create more options in the market for omega-3 fatty acids and expanding the reach of this critical nutritional element, from both algal and tuna-based sources.
The new investment creates opportunities for both companies to accelerate growth through cooperation in go-to-market, R&D and operations. Mara is exploring, for example, refining its crude algal oil at Thai Union’s state-of-the-art oil refinery in Rostock, northern Germany. Thai Union has also been cooperating with Mara in Thai Union’s Omega-3 Center of Excellence at their headquarters in Samut Sakhon by performing successful trials using Mara’s crude algal oil. Together, the 2 companies are well-positioned to serve the growing demand for omega-3-rich products.
Thiraphong Chansiri, President and CEO of Thai Union said, “Our strategic partnership with Mara further builds on this business by creating opportunities to jointly expand our product portfolios, grow our global presence, and accelerate go-to-market initiatives. We’re excited to partner with Mara and together provide nutritious and sustainably sourced DHA omega-3 fatty acids to consumers worldwide.”
Based on latest statistics from the Global Organisation for EPA and DHA Omega-3s (GOED), the omega-3 oils market is enjoying steady CAGR growth of 8.6% with a market value of US$5.6 billion.
