Novarex

Name

Novarex

Legal name

NOVAREX Co., Ltd. (주)노바렉스

Website

https://novarex.co.kr

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Health Functional Food Contract Manufacturing

NAICS

Food Manufacturing (311)

SIC

Miscellaneous Food Preparations & Kindred Products (2090)

akta.pro primary industry

Specialized Dairy Nutrition Base Powder & Premix Manufacturing (Vitamin/Mineral/Functional Premixes) (AFAHAHAJ)

akta.pro secondary industries

Manufacturing Quality Assurance & GMP Compliance (batch release, deviation/CAPA, tech transfer QA) (HLAGAKAJ), Sports/Energy/Functional Concentrate Premixes (electrolyte, caffeine, vitamin bases) (AFAFAGAG)

Keywords

• Health functional foods
• OEM contract manufacturing
• ODM product development
• Dietary supplement manufacturing
• Functional ingredients

Headquarters

HQ city

Cheongju

HQ country

South Korea

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. OEM Manufacturing Services: Contract manufacturing of health functional food products under customer brand names. Provides production, quality control, and delivery services per customer specifications.
2. ODM (Original Development & Design Manufacturing): Full-service product development from planning, development, manufacturing, quality control to shipping, using company's proprietary formulations and functional ingredients.
3. Functional Ingredient Sales: Sales of individually recognized functional raw materials developed in-house, serving as key differentiating inputs for customer products.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Novarex is a B2B contract manufacturer of health functional foods offering OEM (build-to-spec under the customer's brand) and ODM (full-service development using Novarex's proprietary formulations and functional ingredients) services from product planning and formulation through manufacturing, quality control, and delivery. The company operates four factories in Cheongju (Osong and Ochang) producing tablets, capsules, powders, gels, jellies, and liquid dosage forms in multiple packaging formats, with annual capacity of 500 billion KRW expanding to 800 billion–1 trillion KRW by 2027, and supplies globally certified (cGMP, Eurofins GMP, SQF Level 3, HACCP, HALAL, KOSHER) products and functional ingredients to brand customers such as GNC, Blackmores, and TCI.

Product overview

Novarex is a Korean health functional food OEM/ODM company offering two core manufacturing models: ODM (Original Development & Design Manufacturing) providing full-service product development from planning to delivery, and OEM (Original Equipment Manufacturing) for contract manufacturing. The company operates 4 factories with an annual production capacity of approximately 500 billion KRW (expanding to 800 billion-1 trillion KRW post-2027). The portfolio includes 10 proprietary formulation technologies covering delivery systems (sustained-release tablets, micro tablets, coating technologies), novel formats (melt-in-mouth powders, chewable softgels), and clean-label solutions (plant-based coatings, TiO2-free systems). Novarex also develops functional ingredients through its Life Science Research Center, holding Korea's largest number of individually recognized functional ingredients, and provides comprehensive quality control and sales consulting services.

Differentiator

Problem solved

Functional benefit

Products and services

• OEM (Original Equipment Manufacturing) Service Contract manufacturing service in which Novarex produces finished health functional food products according to customer specifications and attaches the customer's brand label for delivery, covering tablets, soft capsules, hard capsules, powders, gels, jellies, and liquids across multiple packaging formats (bottles, PTP, sticks, sachets, pouches, vials). It is targeted at domestic and international health functional food brand companies that lack in-house manufacturing capacity.
• ODM (Original Development & Design Manufacturing) Service Full-service product development offering in which Novarex plans, formulates, develops, manufactures, and ships health functional food products using its proprietary formulation technologies, individually recognized functional ingredients, and certified manufacturing infrastructure, targeted at brand companies seeking differentiated, turnkey products.
• Rexcliver (Sprouted Barley Extract) Individually recognized Korean functional ingredient from sprouted barley extract positioned for liver health benefits; sold as a proprietary raw material to brand customers for incorporation into finished health functional food products.
• FlexProMD (Krill Oil Complex) Individually recognized Korean functional ingredient based on a krill oil complex marketed for joint health, supplied by Novarex as a proprietary raw material for use in customer brands' finished products.
• Ashwagandha Extract (Sensoril) Individually recognized Korean functional ingredient based on Ashwagandha root extract (Sensoril branded input), registered for relaxation/sleep support, supplied to brand customers as a proprietary raw material.
• Soberex (Sprouted Barley Complex Concentrate) Sprouted barley complex concentrate marketed for hangover relief, backed by human application test data, sold by Novarex as a functional raw material for inclusion in customer brands' finished products.
• NOVAROSE (Rose Extract) Individually recognized Korean functional ingredient based on rose extract, developed via Novarex's subsidiary Novawells, registered for skin health benefits and supplied to brand customers as a proprietary raw material.
• NOVAQ (PQQ) Individually recognized Korean functional ingredient based on PQQ (pyrroloquinoline quinone), registered for cognitive function, supplied to brand customers as a proprietary raw material for use in finished products.
• BC99 (Bacillus coagulans BC99) Individually recognized Korean probiotic functional ingredient based on Bacillus coagulans BC99, registered for bowel movement support, supplied by Novarex as a proprietary raw material for customer brands.
• Novasa kei (Latilactobacillus sakei K04076) Individually recognized Korean probiotic functional ingredient based on heat-treated Latilactobacillus sakei K04076, registered for immune boost support, supplied by Novarex as a proprietary raw material for customer brands.
• Quality Control and Testing Services Quality control services embedded in OEM/ODM manufacturing covering physico-chemical, microbiological, physical property, and stability testing of raw materials through finished products and delivery, provided to brand customers under Novarex's cGMP, SQF Level 3, HACCP, and equivalent certified quality systems.
• Sales Consulting for Functional Foods Strategic consulting offering for brand customers, combining research-driven understanding of functional foods and functional ingredients with product planning, strategy proposal, and formulation development, delivered as the front end of Novarex's OEM/ODM engagements.
• NNPD (Novarex New Product Development) Process Service Proprietary new-product-development process through which Novarex discovers, validates, and commercializes new functional ingredients at its Life Science Research Center using systematic research, safety evaluation, functional research, and human clinical testing, yielding individually recognized ingredients supplied to brand customers.

Quantifiable outcome

• Production capacity of 500 billion KRW annually, expanding to 800 billion - 1 trillion KRW with new facility
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Nova K Health Co., Ltd. (노바케이헬스)coreStrategic or Co-development Partner · 1 January 2017Nova K Health Co., Ltd. was established in August 2017 as a research institute company (연구소기업) jointly with Yonsei University. This is Novarex's subsidiary focused on functional ingredient research and development, including multiple individually recognized ingredient developments.
• Yonsei UniversitycoreStrategic or Co-development Partner · 1 January 2017Joint venture partnership through Nova K Health Co., Ltd., established with Yonsei University in August 2017 as a research institute company (연구소기업), focusing on advanced functional ingredient research.
• Nova K Med Co., Ltd. (노바케이메드)minorStrategic or Co-development Partner · 1 January 2016Nova K Med Co., Ltd. was established in 2016 as a research institute company co-founded with the Korea Institute of Oriental Medicine, focusing on traditional medicine and health functional ingredient development.
• Korea Institute of Oriental Medicine (한의학研究院)minorStrategic or Co-development Partner · 1 January 2016Co-investment partnership with the Korea Institute of Oriental Medicine in establishing Nova K Med Co., Ltd. for traditional medicine-based functional ingredient development.
• Blackmores (Australia)coreChannel Partner/ Reseller/ Distributor · 1 January 2013Blackmores, Australia's largest health functional food company, signed a production and delivery contract with Novarex in 2013. Novarex serves as a manufacturing partner for Blackmores' health functional food products.
• GNC (USA)coreChannel Partner/ Reseller/ Distributor · 1 September 2012GNC, the largest US health functional food distribution company, signed a production and delivery contract with Novarex in September 2012. This was GNC's first overseas exclusive manufacturing contract. Novarex produces health functional food products exclusively for GNC under this partnership.
• Probio Pharma Ltd (Philippines)minorStrategic or Co-development Partner · 1 January 2011MOU signed in 2011 for OEM production development and partnership with Probio Pharma Ltd based in the Philippines.
• TCI (Taiwan)coreChannel Partner/ Reseller/ DistributorTCI, a global health functional food company based in Taiwan, has an exclusive manufacturing contract with Novarex for regional market supply. Novarex provides manufacturing services for TCI's health functional food products.
• University Research Network (Korea)minorStrategic or Co-development PartnerCollaborative R&D with multiple Korean universities including Gangneung-Wonju National University, Konkuk University, Korea University, Kookmin University, Daejeon University, Pusan National University, Sejong University, Ajou University, Yonsei University, Ewha Women University, Chonbuk National University, Jeju National University, Chung-ang University, Chungbuk National University, Hallym University.
• Government-funded Research Institutes (Korea)minorStrategic or Co-development PartnerCollaborative research with government institutes including National Baekdudaegan Arboretum, Agricultural Technology Commercialization Foundation, Rural Development Administration, Jeju Techno Park, Chungbuk Techno Park, Korea Institute of Biotechnology and Biotechnology, Korea Food Research Institute, Korea Institute of Oriental Medicine.

Scale indicators10 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Robinson Pharma (RPI): Robinson Pharma is a large US-based dietary supplement contract manufacturer offering OEM services across multiple delivery formats (tablets, capsules, softgels, liquids). It competes with Novarex for global brand customers seeking overseas or domestic supplement manufacturing capacity.
• Health Wright Products: Health Wright Products is a US-based contract manufacturer of dietary supplements in tablet, capsule, softgel, and powder formats. Like Novarex, it serves B2B brand customers across the health functional food category with formulation development and full-service manufacturing.
• Vitakem Nutrition: Vitakem Nutrition is a US-based supplement contract manufacturer specializing in OEM/ODM production of capsules, tablets, powders, and functional beverages. Comparable to Novarex in offering proprietary formulation capabilities and serving brand customers globally.
• Sirio Pharma: Sirio Pharma is a China-based nutraceutical and health supplement CDMO with global operations, offering similar OEM/ODM services for vitamins, minerals, probiotics, and functional ingredients. It is one of the closest direct competitors to Novarex in the Asia-based supplement contract manufacturing space, serving similar B2B brand customers.
• Captek Softgel International: Captek Softgel is a US-based contract manufacturer specializing in softgel encapsulation and full-service supplement manufacturing (OEM/ODM). Comparable to Novarex's Ochang 3rd Factory softgel-dedicated production line and broader CDMO capabilities.
• Best Formulations: Best Formulations is a US-based nutraceutical CDMO offering full-service manufacturing including tablets, capsules, softgels, liquids, and powders. Similar to Novarex in providing end-to-end OEM/ODM services to brand customers in vitamins and health supplements.
• Makers Nutrition: Makers Nutrition is a US-based supplement contract manufacturer offering OEM/ODM services including tablets, capsules, powders, and gummies. It is comparable to Novarex in business model (full-service B2B supplement manufacturing) and customer base (brand marketers and global supplement companies).

Broad incumbents

• Aenova Group: Aenova Group is a leading European pharmaceutical and nutraceutical CDMO offering softgel, tablet, and packaging services. Comparable to Novarex as a larger established CDMO with broader pharma-nutraceutical portfolio rather than specialized in Asian health functional food.
• Catalent (Novo Holdings): Catalent is a global pharmaceutical and consumer health CDMO offering softgel, oral dose, and biologics manufacturing. Comparable to Novarex as a broader incumbent in contract manufacturing but with significantly larger scale and pharmaceutical focus rather than Asian health functional food specialization.

Regional players

• Korea Ginseng Corporation (KGC): Korea Ginseng Corporation is a major Korean health functional food manufacturer (ginseng-based products) operating in the same domestic market as Novarex. While primarily a branded player rather than pure OEM/ODM, it represents a relevant regional competitor in Korean health functional food manufacturing capacity.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/novarex_mkt
• LinkedInlinkedin.com/company/novarex

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Novarex