Described is a composition comprising (i) an aqueous phase comprising - water, - one, two or more co-solvents selected from the group consisting of propylene glycol, ethanol, triacetin, and glycerol, and - optionally one, two or more sugars, preferably selected from the group consisting of sucrose, fructose, and glucose, (ii) a surfactant system comprising - one saponin or a mixture of two, three or more saponins, and - lecithin, and (iii) an oil phase comprising (or consisting of) - one, two, three or more substances selected from the group consisting of flavorants, vitamins, coloring foodstuffs, and polyunsaturated fatty acids, wherein the composition does not comprise a polyclycerol fatty acid ester. Further described is a method of preparing such composition and a corresponding food formulation.
