New office to help InnoBio expand in US
office in Greensboro, North Carolina as the company attempts to
expand its presence in the US market.
The announcement follows fast on the heels of similar moves by Chinese companies, and hints at the trend for Asian companies to open US offices in order to boost their presence in the world's biggest nutrition and dietary supplements market. According to the International Alliance of Dietary/Food Supplement Associations (IADSA), the global dietary supplement market at over US$60.2bn, with the biggest markets being the United States, the European Union and Japan. According to a statement from the company, the new office, in combination with warehousing and distribution in Los Angeles, will "provide expanded service and customer support for a growing list of North American customers." No-one from InnoBio was available to comment on questions from NutraIngredients-USA.com prior to publication. It is not known just how much of a presence the company enjoyed prior to opening of the office, nor how the company intends to expand its strategy in North America. The Chinese company, founded in 2003, will use the office opening to introduce three new brands - InnoMega, DuroMega, and XanGuard - to the US for use in food, supplements, cosmetics, animal feeds, and pharmaceutical formulations. The InnoMega product line offers omega-3, 6, and 9 fatty acids at high purity, said the company, while DurOmega oil powders are described as "a line of free-flowing, cold water-dispersible powders designed to meet the needs of functional food applications, specialty beverages, and the nutritional supplement industry." The XanGuard brand is described as a line of carotenoid products extracted, purified and concentrated from natural sources. Yesterday, this website reported that Chinese ingredients supplier Fenchem is aiming to double its US turnover over the next three years with the opening of its new office in Los Angeles. "The new office establishment can guarantee we have a large warehouse system in USA, which will make our product price more competitive and the products will reach cutomers' warehouse within two to three days in the whole North American area," Fenchem's Junny Liu told NutraIngredients-USA.com. According to the company, the office will allow it to fulfill expectations of strengthening the market for nutrition ingredients used in dietary supplements and functional foods doubling its USA turnover over the next three years.
