Stevia Producer PureCircle Celebrates Fast Market Growth
The potential market for PureVia Reb-A is now estimated at more than US$1.3 billion – and growing fast: only this month, Australia and New Zealand (October 2008) are the latest to grant approval for Stevia.
23/10/08 PureCirle, the world’s leading developer and producer of PureVia Reb-A, the first all-natural sweetener, has announced a three-fold year-on-year rise in sales after a huge increase in demand for its products.
The company, which this summer signed agreements with Pepsico and Whole Earth Sweetener Company to supply high purity Reb-A for use in beverages and tabletop sweeteners worldwide under the PureVia brand, also tripled pre-tax profits – 65 per cent of which can be attributed to Reb-A, they say.
PureCircle was awarded exclusive rights to market the PureVia Reb-A brand, while PureVia Reb-A was confirmed as a viable complement to sugar enabling its use across the food and beverage markets. The potential market for PureVia Reb-A is now estimated at more than US$1.3 billion – and growing fast: only this month, Australia and New Zealand (October 2008) are the latest to grant approval for Stevia to be used as an ingredient in their food and beverage products.
Magomet Malsagov, Managing Director, said: “There have been major developments which collectively could result in a huge market opportunity for PureCircle in 2009. For example, the global food and beverage market increasingly shares our view that the future for PureVia Reb-A is more as a complementary product to sugar than as a substitute for high intensity sweeteners (HISs).
“There has also been good progress on increasing regulatory approval with Switzerland, Australia and New Zealand all recently approving its use. Stevia is increasingly seen as a major cash crop and strategic commodity, with the supply of raw leaf expected to increase dramatically over the next two-to-three years, as larger plantations also seek to benefit commercially.
“We have major agreements with some of the world’s largest agribusinesses to accelerate and secure our supply of quality Stevia leaf, and are reviewing our best long-term extraction and refining capacities to anticipate and match the market opportunity. It has been a phenomenal year for PureCircle, and we predict 2009 will be even better.”
