Algae producer expands food interests
It is participating in Sensbiosin, a European Commission Seventh Framework Programme (FP7) project investigating a range of food extracts from algae, such as beta carotene. "There are not so many active ingredients from micro-algae out there yet, which is why we are looking to develop this category," said sales and marketing director Efrat Kat.
Algatech is seeing intense interest in its core AstaPure natural astaxanthin product. "Until now we have focused on dietary and cosmetic markets, but we see a lot of interest from food and beverage companies.
"We are expanding production by 30% to grow the product in the food category and plan to increase this by 50% more next year from existing sites in southern Israel.
"Some companies are reviewing information, some are working on product development. The product is also becoming more interesting to bigger companies."
He expected several new food products containing Algatech's astaxanthin to hit the market next year. "We are at least six months from a product."
Although it is widely used in the EU as a red food dye, astaxanthin is also believed to convey benefits such as promoting gut, muscle and skin health and immune function.
However, the European Food Safety Authority concluded there was insufficient evidence for specific Article 13 health claims about astaxanthin.
"We have decided to invest more in research," said Kat. "We aim to use an ingredient that has claims to market it better. Once we are ready we will reapply for health claims. Europe is one of our largest markets on the supplement side, so it will happen."
