Algry Quimica, the spanish manufacturer of pharma and food grade choline salts confirms growth trends in the human choline salts market, already confirmed with the company first semester results, which were 35% better than 2001 results. At present, Algry Quimica sales are expected to increase by approximately 70% by the end of the year over 2001 results in terms of net sales of the main choline salts used in nutraceuticals and pharma markets.
"The market for choline derivatives has experienced significant growth in recent years, and especially since the FDA's recent decision authorising products containing qualifying amounts of choline to carry a nutrient label. This growth just confirms we are working in the right direction, offering the growing market of choline-based products a reliable source of material", said Guillermo Rodriguez, Sales Manager of Algry Quimica. "We also expect this growth trend to be maintained during 2003, since customers and manufacturers interest in "the newest vitamin" is growing, especially in the US."
Algry Quimica also announced investments during the next year 2003 in their choline salts manufacturing facility in Huelva (Spain), in order to enlarge manufacturing capabilities by around 70-80% to attend this increasing demand, specifically regarding choline chloride and choline bitartrate used in nutraceuticals.