EID Parry's division - Parry Nutraceuticals has forged a partnership with Synthite Industries, to apply proprietary patented technologies for extraction of Phycocyanin, a natural blue pigment found in Spirulina.
This is a part of Parry Nutraceuticals' NPD strategy to launch value added products based on Microalgae to secure strong market share in niche segments. It is looking at gaining a market share of 20% over the next two years in this segment.
Synthite Industries, with its strong global presence in the natural colour segment, will focus on this market, while Parry Nutraceuticals will continue catering to the Human nutrition segment.
Parry Nutraceuticals has more than 2 decades of experience in cultivation and processing of microalgae-based nutraceuticals including Organic Spirulina, a recognised dietary supplement with high protein content etc.