The shift in the nutraceuticals market toward increased use of natural products has led to “solid organic growth” for OmiActive’s products, which include carotenoids, plant extracts, and specialty functional ingredients. The funds will be used to further expand and diversify its product offerings. Strategic acquisitions to bring a “wider product portfolio of responsibly made ingredients” are also planned, says Sanjaya Mariwala, Managing Director, OmniActive.
The global nutraceuticals supplements market is expected to reach $168 billion by 2020, up from $108 billion in 2014. The United States accounts for over one third of sales.