A stabilized 
emulsion is employed to produce shelf stable, 
controlled release, discrete, 
solid particles or 
pellets which contain an encapsulated and / or embedded component, such as a readily oxidizable component, such as 
omega-3 fatty acids. An oil encapsulant component which contains an active, sensitive encapsulant, dissolved and / or dispersed in an oil is admixed with an aqueous component and a film-forming component to form an 
emulsion. An 
antioxidant for prevention of oxidation of the active, sensitive encapsulant, and a film-
softening component or 
plasticizer for the film-forming component may be included in the 
emulsion. The emulsion is stabilized by subjecting it to homogenization. The 
pellets are produced by first reducing the 
water content of the stabilized emulsion so that the film-forming component forms a film around the oil droplets and encapsulates the encapsulant. In embodiments of the invention, the 
water content of the homogenized emulsion may be reduced by spray-
drying to produce a 
powder. In other embodiments of the invention, after homogenization, the 
water content of the emulsion may be reduced by admixing the emulsion with at least one matrix material to thereby encapsulate the film-coated oil droplets within the matrix material. After the water content of the emulsion is reduced, a protective 
coating is applied on the film-coated oil droplets to obtain 
pellets.