France-based Roquette, a manufacturer of plant-based ingredients, has completed the acquisition of Brazil-based Itacel, a provider of pharmaceutical excipients.
The global dietary supplements market is expected to reach US$220.3 billion in 2022, with a CAGR of 8.8 percent between 2017 and 2022, reports Zion Market Research. Asia Pacific was the largest market, accounting for more than 31 percent share of the total volume of dietary supplements market, and researchers expect this trend to continue in coming years.
Lampertheim, Germany: BASF is implementing a series of measures within the nutrition and health division to strengthen the competitiveness of its performance products segment.
The division bundles the company’s products and solutions for human and animal nutrition, the flavour and fragrance industry, as well as the pharmaceutical industry.
The company is adjusting its product portfolio in order to better meet changing consumer needs and regional demands. In Asia, BASF is building a citral plant with its partner Petronas to meet the growing demand of customers in the flavour and fragrance industry in the region.
The first plants of the complex are expected to come on stream in 2016. At the same time, the company will focus its production in the growing market of omega-3 fatty acids on the attractive market segment for highly concentrated omega-3 fatty acids and plans to sell the Norwegian Brattvåg site. The company produces low concentrated omega-3 fatty acids at this site.
Marketing, sales and administration will be better adjusted to regional market dynamics. A global team responsible for marketing and innovation will in future support the development of customer-oriented products and solutions as well as faster market launches of new products. The company aims to accelerate the innovation cycle of products for its customers through strategic partnerships.
Due to the planned measures about 260 positions in production, marketing and administration will be reduced globally by end of 2015. Consultations with the responsible employee representatives will be conducted.