Pharmactive Biotech Products has announced a new strategic partnership with Singapore-based Nutraconnect to bring innovative, scientifically backed nutraceutical ingredients to the Asia-Pacific marketplace (not including Australia and New Zealand).
The partnership will combine the strengths of both companies into a greater whole. Pharmactive will provide its well-supported, clean-label botanical extract ingredients, while Nutraconnect will function as a growth engine for the region, connecting Pharmactive with local and regional nutraceutical players seeking high-quality, pure ingredients.
Nutraconnect Pte., Ltd. is a start-up led by Rohit Noronha, co-founder and Chief Growth Officer, and Nikhil Prabhakar Sawant, co-founder and CEO. Both are highly experienced leaders in the nutraceutical industry.
Asia is clearly the frontrunner in terms of new ingredient concepts
"We are very fortunate to partner with Nutraconnect, as their team possesses a great deal of market and customer information and strategic insight, allowing for quick responses to potential customers in their local time-zone," confided Jean-Marie Raymond, CEO and Founder of Pharmactive. "Asia is a tremendous growth hub for Pharmactive. We already have had successes in Korea, Japan, Vietnam, and Malaysia with Affron pure saffron extract and Aged Black Garlic [ABG+]."
"Many Asian industry players, formulators, and brand owners approach us about new compounding formats or innovative product concepts to cross the nutraceutical/functional food and beverage divide," Raymond added. "Asia is clearly the frontrunner in terms of new ingredient concepts."
"When it comes to nutraceuticals, Asia-Pacific is a fast-moving region, with multiple players constantly on the lookout for the latest ingredients," added Sawant. "They expect great service and rapid response, even with difficult custom-made formulations, questions about the regulatory framework in certain countries, etc., and this is exactly where our core strength lies. We look forward to helping Pharmactive meet challenges and grow its business in the APAC market."