A composition comprising: a) a primary lipid component obtainable as the reaction product of one or more carboxylic acids with at least one of glycerol and propylene glycol; b) a co-lipid component selected from at least one of phosphorus-containing lipids and hydroxylated carboxylic acid esters of mono- and di-glycerides; c) lipophilic physiologically active ingredient; and d) water. The composition may be used to improve the bioavailability of the lipophilic physiologically active ingredient in food or beverage products. The physiologically active ingredient may be selected from carotenoids, fat-soluble vitamins, phytosterols, phytostanols and combinations thereof.