(MENAFNEditorial) Chennai, Tamil Nadu, India
Parry Nutraceuticals (a division of EID Parry and part of the Murugappa Group) has forged a partnership with Synthite Industries, to apply proprietary patented technologies for extraction of Phycocyanin, a natural blue pigment found in Spirulina.
Natural Blue is one of the Primary colours, which is difficult to master and has very limited sources that are acceptable by regulatory bodies. Phycocyanin (Extracted from Spirulina) is approved by all major regulatory bodies in USA, EU, Japan and South Korea as food colour. Moreover Phycocyanin offers excellent stability and flexibility for application in a variety of food and beverages. Spirulina is being consumed for many decades as a health supplement and is proven safe. Therefore huge growth is expected in the natural food colours segment mainly driven by the consumer's demand for clean labels and favourable regulations.
'With this partnership we are complementing our established expertise in Organic Spirulina cultivation of more than 2 decades with Synthite Industries proven track record of leadership and technical expertise in extraction of natural products. This is a part of our NPD strategy to launch value added products based on Microalgae to secure strong market share in niche segments. We are looking at gaining a market share of 20% over the next two years in this segment. said Mr. Muthu Murugappan, Business Head of Parry Nutraceuticals.
Synthite Industries, with its strong global presence in the natural colour segment, will focus on this market, while Parry Nutraceuticals will continue catering to the Human nutrition segment.
About Parry Nutraceuticals
Parry Nutraceuticals has more than 2 decades of experience in cultivation and processing of microalgae-based nutraceuticals including Organic Spirulina, a recognised dietary supplement with high protein content, Astaxanthin, a powerful antioxidant, Organic Chlorella, which helps in detoxification & healthy ageing and other Phytochemicals. Parry Nutraceuticals is known for its superior product quality and safety and boasts of an enviable global customer base for its Nutritional Supplements in over 35 countries. Parry Nutra's US arm, Valensa International based in Florida, is a wholly owned subsidiary of EID Parry which specialises in development of condition-specific nutraceuticals (addressing joint, eye and cardio-vascular health issues), backed by clinical science and IP. In 2014, EID Parry acquired Alimtec SA, based in Chile, for cultivation of Heamatococcus Pluvialis for extraction of Astaxanthin, a powerful antioxidant, marketed by Valensa under its trademark Zanthin® Natural Astaxanthin.
Parry Nutraceuticals is a division of EID Parry and a part of the 300 billion Murugappa Group.
For details, please visit http://www.parrynutraceuticals.com and www.murugappa.com.
About Synthite Industries
Synthite Industries Ltd. is among the first in India to enter into the nascent field of spice oleoresin manufacture. Today, Synthite has become the global leader in spice oleoresins and other plant-derived natural product solutions with a turnover of over USD 300 million; commanding over 30 percent share of the global market.
From that pioneering start in 1972, the company has grown to become the world's most trusted spice ingredient provider. Synthite's quest for quality makes it the preferred choice of its clientele in over 85 countries.
Synthite transforms a multitude of pure plant spices into flavour and fragrance ingredients, colorants and Nutraceuticals. The modern plants and equipment, precision instruments and passionate people ensure value delivery. The product bouquet has more than 500 varieties. Synthite has six manufacturing units in India and owns a private industrial park viz., Synthite Taste Park. The Company has offices in US, Europe, China and Sri Lanka and is geared to attain a target of Rs.3000 crore by 2020.
A diversified conglomerate, Synthite has six business verticals - Bio Ingredients, Spice, Farm Tech, Hospitality, Realty and Wind Energy.
Synthite group has an exceptional record in employee relations. The Company employs over 1800 people in multiple locations in South India. TheCompany provides utmost importance to training and development initiatives. Synthite Centre for Learning and Development (SCLD) provides top notch training to their employees.
For more information, please visit www.synthite.com.
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