This is on the back of rising consumer understanding beyond the use of fish oil when it comes to improving omega-3 levels.
The brand is expecting to launch a krill oil supplement formulated with collagen and hyaluronic acid for eye health among women.
Speaking to NutraIngredients-Asia at HNC China expo held last month, John Bao, head of NYO3 in Asia-Pacific, said the product was targeted at not just vision health, but also eye health.
This means addressing concerns around eye bags and the appearance of lateral canthal lines or “crow’s feet”.
“There’s a lot of applications for eye health products. For ladies, their concerns surround eyebags, crow’s feet, and the eye altogether. We will be providing solutions that could tackle these issues.”
As such, the new launches will be formulated with collagen and hyaluronic acid for moisturising purpose, while krill oil could benefit the retina with its DHA content.
The bulk of eye health supplements these days are formulated with lutein, blueberries and focused on vision health, but Bao believes that more could be done.
“Consumer needs have gone beyond just looking for a product that supports their vision. It's no longer just about using a single ingredient to address a specific consumer need. As consumers have a variety of needs, we'll need to think of how we can come out with better products to help them address these issues.”
Bao said that the idea was put up by their R&D team in Norway, where there has been a greater focus on women’s health innovation.
From the “three highs” to multipurpose
When it first started in China in 2019 up until 2022, the focus of NYO3 had been on lowering the “three highs”, which refer to high levels of blood lipids, cholesterol, and blood glucose.
This was at a time when Chinese consumers were still new to the concept of krill oil, with fish oil dominating the omega-3 category. A lot of consumer education was required to build up market awareness.
“Because there's demand for omega-3, consumers started to find out that there's different sources of omega-3, from fish oil to seal oil to krill oil,” Bao said. As such, consumers are now more willing to try other sources of omega-3.
In the past three years, NYO3 also recorded a repurchase rate of over 45 per cent.
However, as consumer understanding grows alongside a burgeoning krill oil supplement market, the company is now seeing opportunities for multipurpose products.
For example, there are plans in place to launch sports nutrition products supporting joint health in conjunction with Paris 2024 Olympics.
Ingredients such as L-Ergothioneine is a potential candidate that could be formulated with krill oil for added antioxidative benefits. Combining krill oil and coenzyme Q10 for brain, heart, and cardiovascular health is another formulation that has gained popularity.
NY-O3 also launched krill oil products to commemorate the 110th anniversary of Norwegian explorer, Roald Amundsen, on becoming the first person to reach the South Pole. The South Pole is also where the Antarctic krill biomass could be found.
One of these products is a 56 per cent omega-3 krill oil phospholipids, as well as a more concentrated version containing 59.65 per cent krill oil phospholipids. This is also the highest concentration that a supplement product could contain. A concentration level of 60 per cent and above will not be easily absorbed by the body.
This product is also priced about 2.5 times higher than the usual krill oil – at RMB$700 (US$96) for 60 capsules. The recommended dosage is one capsule per day.
Bao said that the target audience were white-collar professionals on the look out for products with higher efficacy.
Market presence and expansion
Aside from China, NYO3 is also selling offline in Vietnam, Malaysia, and Australia within the Asia-Pacific region.
There is especially a high amount of interest in South East Asia, as the e-commerce scene in countries such as Vietnam is similar to what had happened in China years ago.
“Vietnam’s e-commerce space is developing at a similar trajectory as what was seen in China during its early days of e-commerce. Vietnam is currently at the stage where there is rapid growth and we hope to apply lessons learned from China to the neighbouring South East Asian countries.”
Elsewhere in the US, the products are sold on Amazon and eBay but it is actively expanding into offline pharmacy chains and supermarkets, including Walmart.