LA MIRADA, Calif.Chenguang Biotech granted Green Wave Ingredients (GWI) exclusive North American distribution rights for its stevia. The partnership came soon after Chenguang decided to enter the American market, using its growth in Asian market shares as momentum.
GWI already offers several Chenguang products including Green Coffee Bean and Grape Seed.
Stevia had a global market volume of $304 million in 2012. Zenith International, an international food and drink consultant, anticipated this number to raise $105 million within the next two years.
With GWIs customer service, their reputation, their extensive product line and their solid customer base, it was time for an exclusive partnership," said Qingguo Lu, Chenguang Biotech president.