Europe is currently the third-largest market for Astaxanthin in the world by share. The factors influencing this growth are the rising geriatric population and the adoption of various technologies during production. The buoyant market is showing no signs of slowing down, as the customers are equally looking for preventive, natural ingredients backed by science. The popularity has definitely given rise to several players in the region, fuelling the competition among the suppliers. However, Algalif Iceland stays at the top of the hierarchy.
Based in Iceland, Algalif has been the leading supplier of high-grade natural astaxanthin products from microalgae, including ingredients and finished formulations. Since its establishment in 2012, the goal has been to help solve the nutritional needs of the current and future generations, while ensuring the development and delivery of a reliable supply of high-quality, pure, sustainable astaxanthin from algae. The company follows a sustainable production process, which has mitigated the carbon footprint and is an ambassador of sustainable practices. How Algalif achieves this? Alagalif’s indoor process is designed to deliver high yields of premium astaxanthin by using pure Icelandic water and renewable energy.
Algalif’s CEO, Orri Björnsson, is the visionary behind the growth and sustainable practices of the company. He has the vision to help people live a better and healthier life while also ensuring that the planet is not harmed. On working towards his goal, Orri has managed to build Algalif as a part of a sustainable industry by implementing environmental policy and the zero-fossil fuel strategy.
Algalif’s main product is premium astaxanthin, which is sold B2B in bulk on a global scale in the form of powder, oleoresin, or capsules. Apart from that, the company offers a wide range of high-quality natural astaxanthin supplements in bulk for private label and retail applications, made with its premium Astalíf® Astaxanthin oleoresin. These supplements are sometimes formulated with other nutrients or vitamins and are easy to take in form of dietary supplements. It also commercializes a range of immune-health ingredients, branded Nutramunity™ Beta-Glucan (NBG®), for use in food, beverages, nutraceuticals, sports nutrition, and personal care products.
Algalif’s product line is top-notch and guarantees quality. The company has a dedicated group of skilled scientists that follow everything happening in the algae industry. Moreover, Orri also closely inspects the technological advancements, especially regarding illuminating technology and greenhouses. Consequently, these efforts have managed to rank Algalif on the pedestal of a leading provider. Though the company has not increased the product line, it is actively looking to expand the ingredients product line to reach new markets and customers.
Algalif has started its fully financed 30 million USD expansion on its sustainable astaxanthin production facilities in Iceland. The construction is underway and the production is estimated to increase by more than 200%—from over 1.500 kg to more than 5.000 kg of pure natural astaxanthin annually. Hence, ranking Algalif amongst the world’s biggest producers of high-quality sustainable natural astaxanthin from microalgae. It is evident that the drift and entrepreneurial spirit of the CEO, Orri Björnsson, is one of the main forces behind the success of the company.
Orri’s vision of building a sustainable green company is also gradually fulfilling. The company was recently called where “sustainability is a way of life”. Algalif has risen to success without staining the planet and conveying a great example of an environment-friendly company. Not only has the company made use of 100% green geothermal energy, but also the team equally adopted the eco-friendly lifestyle, making Algalif a truly green and climate-friendly enterprise. “All our cars run on electricity and we have a strict zero-waste policy. You could say that sustainability is in our DNA or maybe it is just our way of life,” proudly asserts Orri.
Being an Icelandic national, Orri is equipped with both local roots and international experience. He has extensive experience of more than two decades working in the pharmaceutical and microalgae industries. Apart from an entrepreneur, Orri was a consultant on international pharmaceutical development projects to the United Nations and managed various international programs for the pharmaceutical companies Actavis and Balkanpharma. He joined Algalif Iceland in 2013 and has been a true leader since the beginning.
Under Orri’s leadership, the company managed to seize production and marketing opportunities by understanding trends, technology, consumers, and players in the industry. Algalif´s good fortune is rooted in Orri´s vision to create a profitable business making quality ingredients from microalgae. He adds, “We live by three key values; quality, reliability, and sustainability.” Orri confirmed that the team will stay on the same track and keep being a reliable business partner who sustainably produces a high-quality product.
Algalif’s operation was not really affected by the pandemic and the pace of production never slowed.. But there was a rise in demand for sustainable natural astaxanthin. The sales were continually high and the year 2020 turned out to be a prosperous year for the company. Orri is confident that 2021 will be even better from a sales point of view.
Apart from this, the aforementioned expansion has proven to be one of the biggest foreign investment projects in Iceland this year and important for the local economy. Though Algalif is already by far the biggest algae company in the country, a recent study has also confirmed that it is listed amongst one of the biggest algae companies in Europe. Recently, the company was awarded as the best natural astaxanthin supplier in the world at the Global Health and Pharma Biotechnology Awards 2021. “We have about 40 employees now and two years from now we will be close to 80,” says Orri. Under Orri’s leadership, the future of Algalif seems more promising.
“We are going into this investment because almost everything we can produce is already sold and last year was the best in our history. And there is increasing demand for our high-quality sustainable products. So, we will make more of it,” concludes Orri, always rising to the challenge as a true leader and a visionary—both in business and sustainability.