Fenchem supplies a range of nutraceutical and functional food ingredients from herbal extracts to vitamins and minerals and has a predominantly international client base, but is finding increasing business from Chinese food and supplements companies.
“Human nutritional market in Asia is showing double digit growth rate and China is a major player in the market,” Fenchem said.
“Consumers are seeking functional ingredients for health awareness of heart, digest, brain and immunity.”
Fenchem said children’s products and natural products were also popular and utilising ingredients such as probiotics, prebiotics, omega-3s and dietary fibre.
But the company noted the competitiveness of the market and entry barriers that made it difficult for “new players to participate in the market”.