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In our latest monthly trend tracking report, we assessed the latest consumer and market developments in the region's omega-3, the functional food and nutritional beauty industry.
OmegaQuant believes that the new Australian lab will relax the omega-3 test into other Asia Pacific markets.
Omega Quant, a U.S. -based testing company for the omega-3 index, has opened a laboratory in Brisbane, Australia, as the center for the entire Asia-Pacific region, and believes consumers are willing to accept nutritional diagnoses.
Through the new lab, the company intends to speed up its testing and analysis of the omega-3 index, previously conducted through its U.S. headquarters in Sioux Falls, South Dakota.
Developed by founder and President Dr. Bill Harris, the test requires clients to collect their own blood samples at home or at a doctor's office using simple finger clips and a drop of blood.
They then sent it to the lab and detailed the results in a few weeks.
Functional food opportunities in Australia and Southeast Asia abound: CSIRO-KPMG Report
According to a joint report by the Federal Organization for Scientific and Industrial Research (CSIRO) and the auditor KPMG, the ASEAN market offers ample opportunities for Australian functional food companies.
The report, entitled "Healthy Foods," points out that health and health care are one of the fastest growing catering categories in the world, accounting for 20% (436.2 million US dollars) of the world's $2.18 billion packaged food market.
This is mainly due to the growth of lifestyle and diet-related chronic diseases, such as obesity, type 2 diabetes, cardiovascular disease and cancer, which are particularly common in Southeast Asian countries.
Can functional drinks support Indonesia's sluggish soft drink market?
New product development for functional drinks, coupled with innovation at the end of the market economy, could help Indonesia's soft drinks market recover from the recent economic downturn.
According to Euromonitor analysts, soft drink sales recorded low unit growth in 2017, slowing sharply compared with double-digit sales growth in 2016.