The Nutraceuticals capitalises on the burgeoning, global demand for natural health care and wellness products by expanding its product portfolio and market reach. Exported to 38 countries and certified for major International Food and Safety Standards, Parry's nutraceutical products continue to grow in all its markets.
The company consolidated its market leadership in organic Spirulina, outperforming competition, while the sale of Lycopene products also recorded a robust growth. Across market segments, product differentiation addressing specific health conditions helped to garner a larger growth volume.
During the year, pilot plant trials were successfully completed at the marine algae facility at Chittarkottai for the manufacture of Beta Carotene from the micro algae Dunaliella Salina and at the Thyagavalli facility for the production of Galactomannan, a novel soluble fiber, opening up huge opportunities in the global, nutritional supplement space.
The company has drawn up strategies to leverage the Parry's brand in the wellness space of the Indian Nutraceutical market, by launching a range of OTC products for the preventive and health management segments.
To move up the value chain, the business has setup a specialised team to develop scientifically validated formulations, to address specific health conditions and explore opportunities in the Indian Pharma Industry. US Nutraceuticals LLC., a subsidiary of the company has developed a range of formulation for eye health, joint health, etc., and has successfully marketed it to leading health brands in North America.
With the natural health care industry posed for great growth globally, the Nutraceuticals division at Parry's has its future plans clearly charted out - to tap its green synergies and expand to greener horizons.
Did you know?
Parry's Nutraceuticals is the world leader in micro algae technology comprising organic spirulina and natural Beta Carotenoids-Dunaliella Salina and Haematococcus pluvialis (Astaxanthin). Algae manufacturing is an intensive science and Parry's plant at Oonaiyur, with its raceways for organic spirulina and the marine algae manufacturing facility at Chittarkottai are unique and first of their kind in the world.
Parry's is also the largest manufacturer of tomato lycopene in India and amongst the select few in the world to offer this product in different variants for the health care industry.
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