MOUNTAIN VIEW, Calif., Dec. 1 /PRNewswire/ -- This week Frost & Sullivan announced that Martek Biosciences Corporation, creator of the fast-growing life'sDHA(TM) brand of DHA (docosahexaenoic acid), is the 2008 recipient of the North American Frost & Sullivan Customer Value Enhancement Award. This award is in recognition of Martek's long-standing, successful customer relationships and innovative marketing and branding initiatives that have helped to establish the company as a leading global provider of DHA omega-3 products.
Martek's solid research pipeline along with strategic alliances and a strong intellectual property strategy has further cemented its superiority in the market. Martek has developed a strong intellectual property position globally by strategically developing multiple layers of patent protection. Martek's patent portfolio includes more than 700 granted patents and pending applications worldwide. Its strong patent portfolio has ensured that it is the only source of DHA and ARA used in infant formula sold in the United States.
"The company has successfully established significant and long-term supply agreements and has capitalized on its strength of being a leading supplier of vegetarian DHA and arachidonic acid (ARA)," notes Frost & Sullivan Research Analyst Arthi V. "Martek has signed multi-year sole supplier agreements with a number of leading infant formula manufacturers to further strengthen its relationships with key customers."
Martek has also focused on comprehensive marketing initiatives, making extensive use of various media and consumer outreach strategies to promote its brand, life'sDHA. This has led to double digit growth in consumer awareness of the life'sDHA brand since the brand was launched in 2006. As a result, Martek is one of the few companies providing high-value nutritional products to successfully secure a brand presence through the appearance of its life'sDHA logo on numerous consumer packaged goods that are household names.
life'sDHA is derived directly from microalgae, a renewable, sustainable source of DHA that does not deplete ocean resources and is produced entirely in the U.S. in a FDA-inspected facility. Today, life'sDHA is a trusted source of DHA omega-3 found in numerous foods, beverages and supplements for people of all ages. It is also the only source of DHA used in U.S. infant formula and is included in more than 99 percent of all formulas on the U.S. market. In addition, life'sDHA is found in more than 200 brands of infant formula, nutritional supplements and functional foods sold in over 75 countries worldwide. Martek has received approvals for the use of life'sDHA in wide range of foods and supplements in Europe, Australia/New Zealand, and Canada.
"life'sDHA has exceptional sensory characteristics; it does not adversely affect a product's sensory properties such as taste or odor," says Arthi. "It also has an outstanding shelf life and is highly concentrated, so less is needed."
Martek's innovation and experience in the production, refinement and formulation of high quality DHA omega-3 products has established it as a leader in customer value enhancement. Martek develops close working relationships with its customers and provides personalized technical support to ensure the highest quality finished products by offering a range of services, including an experimental food development laboratory, small-scale food production capabilities, sensory analysis and chemical analytical support.
This has resulted in exceptional customer retention and a rapidly growing customer base. This year, Martek announced the launch of the 100th food and beverage product incorporating life'sDHA. The ingredient was first introduced in soy beverages, yogurt and yogurt drinks in 2006, and the range of products into which life'sDHA has been added now includes milk, fruit juices, baby foods, sushi, nutrition bars and cheese. This year alone, the brand expanded further into cooking oils, bread, butter, frozen foods, smoothies, meat, meat alternatives and more. In addition, many of Martek's customers continue to introduce follow-on products based on the success of their initial product launches.
Each year, Frost & Sullivan presents this award to the company that has best demonstrated the ability to expand its customer base, while maintaining its existing customer base, with more innovative value creation and enhancement strategies than competing vendors. This Award recognizes the company's successful sales entry, customer acquisition and service strategies, and the degree to which those strategies have met customers' stated needs and requirements. Such strategies are expected to significantly improve customer interaction and contribute to their satisfaction.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Martek Biosciences Corporation
Martek Biosciences Corporation (Nasdaq: MATK) is a leader in the innovation and development of DHA omega-3 products that promote health and wellness through every stage of life. The company produces life'sDHA, a sustainable and vegetarian source of DHA omega-3, for use in foods, beverages, infant formula, and supplements, and life'sARA(TM) (arachidonic acid), an omega-6 fatty acid, for use in infant formula. For more information on Martek Biosciences, visit http://www.martek.com/. For a complete list of life'sDHA products, visit http://www.lifesdha.com/.
About Frost & Sullivan
Frost &Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership(TM) empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan's Growth Partnership Services, visithttp://www.awards.frost.com.
Contact: Jake Wengroff 210.247.3806 email@example.com
|SOURCE Frost & Sullivan|
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