aXichem AB (publ),that develops and markets natural analogue industrial compounds, is launching a new brand aXivite, for the nutraceutical market. aXivite is a version of the company’s natural analogue capsaicin, aXiphen, and targets the fast growing market for nutraceuticals. Nutraceuticals is a generic term for food supplements and functional food, a combination of nutrition and pharmaceuticals.
- aXivite will be offered as an active ingredient in various types of food supplements. Since spring this year our product is GRAS certified, meaning we can sell to customers in the U.S. market. The timing for launching aXivite is perfect. Capsaicin has several, well documented, positive effects and is used in for example dietary supplements, said Torsten Helsing, CEO of aXichem.
- There is an increased interest for the correlation between food and health all over the world. This combined with the fact that people live longer opens up for a continued growth of the nutraceutical market. aXivite is a competitive product and it fits well into our potential customers’ production processes, said Lucas Altepost, vice president of aXichem.
The U.S. market for nutraceuticals is expected to show an annual growth rate of 7.8% up until 2024, according to a report from Grand View Research (www.grandviewresearch.com), while the global market for dietary supplements is estimated to grow with 9.7% annually.