Amicogen, a bio-healthcare specialist, is accelerating its efforts to capture the collagen market both domestically and internationally. The company has strengthened its raw material supply through a joint venture with Navico, a Vietnamese seafood company whose stock price has recently hit the upper limit for several consecutive days. In addition, Amicogen has begun exporting its finished collagen products to more than 370 pharmacy chains in Kazakhstan, marking a full-scale entry into the global health supplement market.
Recently, Navico’s stock price has reached the upper limit for nine consecutive trading days, drawing significant market attention. This surge is attributed to the U.S. Department of Commerce (DOC) adjusting the anti-dumping tariffs on Vietnamese pangasius seafood to 0% on June 24, thereby opening up export opportunities to North America. Notably, Navico has actively implemented a circular economy model by recycling by-products (approximately 60?70%) generated during pangasius processing into high value-added raw materials such as collagen, gelatin, and omega-3 oil, instead of using them as feed or waste. This approach aligns with global ESG trends and has garnered considerable attention.
Amicogen has established the 'Aminavico' plant in Vietnam through a joint venture with Navico to produce collagen and gelatin raw materials. Even at the first phase, the plant has an annual production capacity of 780 tons of collagen peptides and gelatin, with the potential to expand to a maximum of 2,400 tons through second and third phase expansions. By utilizing Amicogen’s enzyme-based hydrolysis technology (GPH technology), this facility is expected to provide a stable foundation for supplying competitive products to the global health functional food ingredient market.
Meanwhile, Amicogen has also begun to actively expand the overseas market for its finished collagen products. In February of this year, the company signed a supply contract with 'Diamond Farm LLP,' a Kazakhstani company specializing in the import and distribution of health supplements, for its 'K-Nutra' brand collagen products, and began exports at the end of May. Diamond Farm LLP, established in 2005 as part of the Zerde Group, operates over 370 pharmacy chains throughout Kazakhstan and is highly trusted in the distribution of pharmaceuticals and health supplements.
The export products include two types: 'K-COLLAGEN JELLY BERRY' (jelly type) and 'COLLAGEN VITA C BERRY' (powder type), both featuring Amicogen’s core functional ingredient, GPH-containing collagen tripeptide (CTP). These products were developed as customized formulas that meet local health supplement certification and pharmacy distribution requirements in Kazakhstan, with formulations designed to enhance the functionality and absorption rate of collagen.
Beyond simple product sales, Amicogen has focused on building brand trust by conducting online and offline training for pharmacists, consumer trial groups, and product presentations in collaboration with local distribution partners in June. Additionally, in the second half of 2024, the company plans to expand its product lineup through additional certifications and aims for a second round of exports.
Kazakhstan is part of a customs union (CU, Customs Union) with Russia and CIS countries, which increases the potential for expanding distribution channels to neighboring countries. Amicogen plans to use this as a bridgehead to expand the supply of its K-Nutra brand and functional collagen products to nearby markets such as Russia, Uzbekistan, and Kyrgyzstan.
An Amicogen representative stated, "Kazakhstan is a promising emerging market where middle-class consumption of health functional foods is rapidly increasing. This export deal is strategically significant not only for short-term sales but also for long-term brand awareness and market expansion. Going forward, we aim to become a leading company driving the global spread of K-Health."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
