OmniActive's APAC expansion plans buoyed by latest botanical GMP registration
Granted by public health organisation NSF International, the accolade recognises the firm's Specialty Botanicals & Extracts division, which manufactures authenticated and standardised natural extracts such as turmeric, fenugreek and green tea at the Hosur plant.
Speaking to NutraIngredients-Asia, COO Chaitanya Desai said, "We took part in this voluntary certification to demonstrate to our customers and industry that we hold ourselves to the most stringent standards of safety and quality. We maintain control over our supply chain and internal processes to ensure the quality and safety of the finished goods we supply to our customers."
Good sign for expansion goals
This bodes well for OmniActive in APAC, where it has been targeting an increase in business.
Business head of the firm's Specialty Botanicals & Extracts division, Thiyagarajan Karthikeyan, told NutraIngredients-Asia: "Asian countries represent the largest market worldwide for herbs and botanicals, with a combined $15bn in annual sales, more than double that of the US market.
“We anticipate that they will continue to grow at a much faster rate than countries like the US, where the herbal market has matured. Consumer awareness about the benefits of dietary supplements in Asian markets and easy access to products are major market drivers.
"In China, the market has gained the attention of many supplement companies as those consumers increasingly spend on health products. E-commerce continues to be a major growth channel in China as well."
Still, the company will continue expanding its opportunities in developed markets like the US — which remains the world’s largest nutraceutical market — and in developing markets in Europe, where countries such as Germany and France are witnessing healthy growth rates.
Karthikeyan added that OmniActive was investing in growing its presence in regional markets such as APAC and EMEA by offering a customised product portfolio "supported by effective and differentiated sales and marketing strategies for these regions".
Casting a wide net
The firm has cast a wide net, looking at global trends across different age groups, and where and how it can offer solutions.
Karthikeyan said, "As obesity rates rise in regions outside the US, weight management formulas in meal and protein supplements have gained favour.
"In health categories for the ageing population, joint, digestive, and cognitive health are of major concern. Millennials are driving industry growth with products that address anxiety, stress, detoxification, and sports performance and recovery.
"Also, the preference for more natural, less processed products, along with other factors such as sustainability and clean labels, are driving the growth of the herbs and botanicals category. We aim to ensure that our portfolio of ingredients can cater to the needs of these fast-growing health categories."
Furthermore, he revealed that OmniActive was investing in R&D surrounding different delivery options for increased compliance and product efficacy.
"We believe that a focus on consumer needs, innovation and science is essential to meeting the demands of supplement and functional food and beverage manufacturers, so they may provide quality products to consumers."