hy said on the 13th that cumulative sales volume in its raw material B2B (business-to-business) transaction business has exceeded 50 tons (t).
This year's sales volume is 18 t, the most since the business began. Revenue also came to about 15 billion won, up about 29% from a year earlier. That is four times higher than the first year, when it posted 3.5 billion won.
Ahead of launching the business, hy formed a dedicated B2B team and in 2021 entered the market by rolling out the specialty brand "hyLabs." It quickly gained a foothold in the market by manufacturing and distributing its proprietary probiotics and natural materials in powder and liquid types.
hy said that its material technology and scientific rigor, recognized through patents and papers, also made a difference. Based on a library of more than 5,100 strains collected nationwide and 250 types of natural materials, hy has continued research on functional probiotics and natural materials. As of this year, it holds 124 patents. It also has more than 150 papers registered domestically and internationally.
The lineup is also steadily expanding. In addition to probiotics, it has successively introduced natural material ingredients with verified functionality, including hangover relief, joint health, fermented red ginseng, and fermented deer antler. The number of ingredients available for sale, which stood at three in the early days of the business, has increased to 14 in five years.
hy also built production infrastructure to respond to increased demand and more diverse client needs. In August 2021, it secured six freeze dryers at the Pyeongtaek plant, and at the end of 2023, it added two more production facilities at the Nonsan plant. This enables annual production of up to 18 t of functional ingredients.
An hy official said, "As market interest grows in ingredients that combine functionality and scientific rigor, hy will continue to invest and pursue research and development."