US food and agribusiness giant Bunge has announced that it has formed an alliance with US consumer goods giant Procter & Gamble and Peter Cremer North America, part of German chemicals firm Cremer, to produce and market cholesterol-reducing phytosterol ingredients for pharmaceuticals and foods.
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The alliance will use Bunge’s raw material supply, P&G’s marketing and sales expertise and Peter Cremer’s manufacturing capabilities.
Phytosterols are found naturally in plants, fruits and vegetables. Demand for the products has increased in response to the approval of health claims concerning sterol-enhanced food products by the US Food and Drug Administration (FDA) and other regulatory bodies. The companies estimate that by 2008, global demand for phytosterols will top 10,000 tons, a figure that represents a potential market value of $200-250m. In 1999, demand was around 4,000 tons.
“Partnering with Procter & Gamble and Peter Cremer enables Bunge to participate in a high-growth market and capture additional value from its core oilseed processing business,” said Marc Samson, director of business development and technology at Bunge.
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