Simon Seward, Algalif’s senior vice president of sales and marketing, says Asia Pacific is a key growth market for Algalif and is an “instrumental” part of the company’s global strategy.
Icelandic-based astaxanthin ingredient and supplements provider Algalif (Reykjanesbaer) is taking its new IceCaps astaxanthin softgels and its new Icelandic Harvest brand of finished astaxanthin dietary supplements to the Asia Pacific market. Simon Seward, Algalif’s senior vice president of sales and marketing, says Asia Pacific is a key growth market for Algalif and is an “instrumental” part of the company’s global strategy.
Seward says Algalif sees great promise in Asia for astaxanthin. First, he points to the region’s market size. “We’re talking about a huge market,” he says, noting that in 2013, the total population of the Asia Pacific region was 4.3 billion, or 60% of the total global population, according to United Nations figures.1
Consumers in Asia Pacific are also increasingly proactive about personal wellness. “The region is the world’s largest market for vitamins and dietary supplements, generating US$44 billion in retail value sales in 20172, with immense potential for further growth as income levels improve,” Seward says.
Finally, Asia Pacific’s vast aging population presents numerous opportunities for healthy-aging ingredients such as astaxanthin, he says. “Seniors comprised 11.4% of the region’s population in 2013 and are expected to reach about 20% of the population by 20502,” he says.
Algalif’s new bulk IceCaps astaxanthin softgels provide Algalif customers with new options, Seward says. The IceCaps range first debuted in Switzerland at the Vitafoods trade show in Geneva last month.
“IceCaps, our range of high-quality natural astaxanthin supplements supplied in bulk, will enable many new customers to kick start their astaxanthin journey and open new lines to serve the growing demand for astaxanthin products around the world,” he says. IceCaps feature Algalif’s premium AstalÃf astaxanthin oleoresin. Softgels are available in astaxanthin potencies of 4, 8, and 12 mg.
Likewise, the company’s new Icelandic Harvest brand of astaxanthin supplements for retail will extend the brand and company reach. “Algalif created its Icelandic Harvest brand in response to retail trade demand and specific interest in branded, turnkey astaxanthin products,” says Seward. “We saw from the interest levels in our Icelandic astaxanthin ingredients that our combination of high-quality, clean, sustainable microalgae and our Icelandic manufacturing position is very relevant in today’s market-attracting the attention of companies interested in finished formulations.” He points to Algalif’s use of 100% renewable energy in product manufacturing as one of the examples of how the company stands out in the astaxanthin community.
“Rapidly changing market conditions-especially online-and particularly in Southeast Asia really drove the Icelandic Harvest initiative,” he adds.
Companies can purchase Icelandic Harvest supplements in bulk. Supplements are available in different astaxanthin potencies (4, 8, and 12 mg), and in different sizes (60 and 120 caps) and packaging options (pot and box).
2. Euromonitor International (2017). “Opportunities for Vitamins and Dietary Supplements in Asia Pacific”. Available at: https://www.slideshare.net/Euromonitor/opportunities-for-vitamins-and-dietary-supplements-in-asia-pacific