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Parry Nutraceuticals and Synthite partner for phycocyanin

June 30, 2017
AlgaeIndustryMagazine.com

The new partnership will merge spirulina cultivation experience with expertise in the extraction of natural products, to serve the phycocyanin market.

Parry Nutraceuticals, a division of EID Parry and part of the Murugappa Group in India, has forged a partnership with India’s Synthite Industries, to apply proprietary patented technologies for extraction of phycocyanin, a natural blue pigment found in spirulina.

“With this partnership we are complementing our established expertise in organic spirulina cultivation of more than two decades with Synthite Industries’ proven track record of leadership and technical expertise in extraction of natural products,” said Mr. Muthu Murugappan, Business Head of Parry Nutraceuticals. “This is a part of our NPD strategy to launch value added products based on microalgae to secure strong market share in niche segments. We are looking at gaining a market share of 20% over the next two years in this segment.”

Natural blue is difficult to master and has very limited sources that are acceptable by regulatory bodies. Phycocyanin, extracted from spirulina, is approved by all major regulatory bodies in the USA, EU, Japan and South Korea as a food color. Phycocyanin also offers excellent stability and flexibility for applications in a variety of food and beverages as a health supplement.

Synthite Industries, a global leader in spice oleoresins and other plant-derived natural product solutions with a strong presence in the natural color segment, will focus on that market. Parry Nutraceuticals, a marketer of nutritional supplements in over 35 countries will continue catering to the human nutrition segment.

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