04.01.07
Monsanto and The Solae Company, both based in St. Louis, MO, have signed an agreement to develop and market omega 3 products for a rapidly growing market that industry experts predict could grow to as much as $7 billion by 2011. The collaboration brings together research that Monsanto and The Solae Company, together with its majority owner, DuPont, have been conducting independently on soybeans containing high levels of omega 3’s, as well as Solae’s work on stabilizing oil for food applications. The companies say they are committed to collaborating in the development of omega 3 products, which will be marketed through Solae. According to The Solae Company, market researchers have projected sales of omega 3-infused foods will grow at a 60% compounded annual rate (CAGR) from 2002 to 2011, prompting concerns that demand could soon outstrip supply and threaten fish stocks. This collaboration, the company says, seeks to cultivate a new, more sustainable source of omega 3 products that can be used in many different applications. The companies expect an actual product to be ready for launch by 2010.