"The Russian vitamins and dietary supplements market has demonstrated significant growth during the last three years and sales of the over-the-counter (OTC) is estimated to exceed US$1bn,?/i> explained Michal Haim-Bravam, marketing manager for Enzymotec.
"Enzymotec sees great opportunity by offering its innovative line of cognitive and cardiovascular disease (CVD) solutions,?/i> said Haim-Bravam.
The company has announced that its brain health line of products will be the first launches in Russia, which will be promoted by St Petersburg based Protein Plus.
Enzymotec's brain health line currently has four products available, three of which contain the nutrient phosphatidylserine (PS), present in all biological membranes but in animals is most concentrated in the brain. PS is said to regulate many metabolic processes including neuronal signalling. However the body cannot synthesize it and changes in the western diet over recent years have led to a decline in dietary uptake of the nutrient.
"By promoting Enzymotec line of products, we offer the Russian dietary supplements market the potential to concentrate on innovation by adding value through state of the art technology, IP status and science,?/i> said Andrew Gudz, sales and marketing director of Protein Pus.
The Russian dietary supplements market continues to offer great opportunities to companies, with reports of widespread vitamin deficiencies. However, the consumer base is restricted by low wages, with the average income across Russia only €19 per month at the start of 2005, lower than all the 10 countries which recently joined the EU and brought down by poorer areas outside the major cities.
The news comes barely a week after the launch of Enzymotec's new brain health product SharpPS gold, combining PS with omega-3 fatty acid DHA. It is not sure if this new product will be immediately available for the Russian market.
Continued expansion of its operations has seen Ezymotec increase capacity by 33 per cent in the last 12 months, as the firm makes ground on the leading PS producers, Degussa and Chemi.