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The Canterbury Development Corporation has formed the cluster to support and promote nutraceutical and related companies from Canterbury, Nelson and the West Coast. Nutraceuticals are natural, bioactive extracts that are used in health promoting and disease preventing natural products.
Globally the Nutraceutical industry is massive. 35% of the global market is in the USA where annual sales are US $53 billion (Nutrition Business Journal 2001).
The clusterÂ’s share of the global market is very small and a recent survey of 36 businesses shows that for the year ending March 2003 total sales will be NZ $90m (Exports NZ $55m).
The vision of the cluster is to grow the Nutraceutical industry by giving members the opportunity to develop their capabilities with the aim of establishing the regions of Canterbury, Nelson and the West Coast as nationally and internationally recognised providers of high quality raw materials, branded products and services.
Visit
www.nutraceuticals.org.nz
to find out more.
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