SweeGen to supply Bestevia Reb-M to Chinese energy drinks company
SweeGen has completed a framework agreement for the supply of its stevia-based sweetener, Bestevia Reb-M, to an undisclosed energy drinks company in China.
The deal will give SweeGen an opportunity to explore one of the largest consumer markets in the world.
SweeGen CEO Steven Chen said: "With a population of over one billion and an increased health awareness, the Chinese market was one of our company's most important strategic targets.
“The introduction of our Bestevia Reb-M will help the Chinese consumers reduce calories while enjoying its amazing sugar-like taste."
The Chinese energy drinks company has accepted SweeGen's Bestevia Reb-M product following rigorous trials and market tests in the country.
After obtaining regulatory approvals from the Chinese authorities, the sweetener will be used for a new line of energy drinks.
In February, the US Food and Drug Administration (FDA) issued Letter of No Objection to SweeGen's Bestevia Reb-M confirming it as a food ingredient that can be used in various food products.
Following regulatory approvals in China and other world markets, consumers worldwide will get access to the sweetener.
The company anticipates that its non-caloric Bestevia Reb-M would drive energy drinks in China to a new height.
According to Mintel’s article published in August last year, the global energy drink category reached 8.8 billion litres in 2015 with China showing an increase of 25% in sales.