British Biologicals, the Indian biotech firm, is in the process of acquiring the rights to a US-made bioactive product for re-export to the US, just-food understands.
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The Bangalore-based group has set its sights on the US as part of ambitions that also include plans to enter Russia and the EU.
British Biologicals declined to comment on the impending US deal but executive director V. Sridhar said the company had the capability to meet growing demand for functional foods at home and abroad.
“Our state-of the-art facility can easily cater to the demand even if it quadruples for the next four years. Therefore, we do not face any production constraints to meet the increased demand both domestically and overseas,” Sridhar told just-food.
Global revenues for nutraceuticals stand at around US$120bn, with the US market estimated at $5bn.
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By GlobalDataBritish Biologicals controls 23% of India’s fledgling $400m nutraceutical sector, which is growing at 20% a year.
