aXichem AB (publ), that develops and markets natural analogue industrial compounds, has received the first order for product development from its French distribution partner Actives & Co. aXichem signed a marketing, sales and distribution agreement with Actives & Co, a high quality ingredient provider, at the end of March this year, and the initial order of aXivite will be used in a product development project aiming at finding the formula for a new weight management product.
- It is very encouraging that we see this activity in the French market. Initially it is a limited order of 15 kilogram of aXivite, but the value lies in the potential and the fact that there now is ongoing product development based on aXichem's capsaicin analogue product, aXivite. Weight control and weight management is a growing segment in France, as in several other markets, and I'm pleased that we have as competitive product to offer, says Lucas Altepost, Vice President at aXichem.
The French market for food supplements is the third largest market in Europe, behind Italy and Germany, at 610 million Euro in 2013, (FederSalus, 2014). Some sources have estimated the market to be even bigger. The Syndicat National de Compléments Alimentaires (Synadiet) estimates the French market to be much larger at 1.48 billion Euro in 2014, having increased by 6.4 percent since 2013. According to Synadiet, the most popular categories in 2014 were tonics, stress and sedatives, digestion and weight control supplements.
This press release has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.