US: GLG Life Tech, ChemPoint sign stevia deal
ChemPoint will marketing, sale and distribute GLG's portfolio in the US and Europe
Stevia supplier GLG Life Tech has teamed up with e-distributor ChemPoint.com for the marketing, sale and distribution of the natural sweetener in the US and Europe.
GLG said today (26 October) that the two sides will launch focused campaigns targeting key segments of the food and beverage industry "immediately".
The three-year agreement allows the option for renewal subject to certain conditions, and establishes ChemPoint as the exclusive supplier of stevia extract products for the "high-value, tier-three and tier-four customers in the US and European food and beverage industry", GLG said.
GLG chairman and CEO, Dr Luke Zhang added: "ChemPoint's innovative technological approach to working with customers is impressive and demonstrates their commitment to effective, professional service. ChemPoint is able to deliver valuable technical solutions, strategic marketing, and customer support which will allow GLG to better service its customers."
Earlier this month, GLG Life Tech teamed up with Indian agribusiness group Global Agri in a bid to develop the market for the sweetener in the country.
According to Leatherhead Food Research, stevia is "one of the most dynamic" sectors within the market for intense sweeteners.
The ingredient has been used in Asia and Latin America for decades but, since US regulators approved its use in food and drinks in 2008, more manufacturers have been turning to the product when developing low-sugar products. Stevia's status as a natural sweetener has also increased uptake, with consumers demanding more natural products, Leatherhead has claimed.
In Europe, France and Switzerland have also given the green light to the use of stevia and suppliers are waiting for Brussels to formally rule on its use throughout the EU.
Stevia firm PureCircle has expanded its agreement to supply sweetener maker Merisant....
- Focus: Nestle CEO plan to balance sales, earnings
- Does Kraft Heinz want to swallow Unilever whole?
- Will Kellogg's DSD exit help it grow in US snacks?
- Is Mondelez's margin target hurting sales?
- Why Reckitt Benckiser moved for Mead Johnson
- Nestle plans restructuring as 2016 profit misses
- Aryzta CEO, CFO resign amid strategic review
- Danone eyes efficiency, agility with new structure
- Kraft Heinz pursuing Unilever in takeover move
- Kraft Heinz returns to organic growth, ups margins