Stevia First Corp. (OTC: STVF), a company focused on establishing a vertically-integrated stevia enterprise in the U.S., on Monday reported on recent progress in the stevia market. STVF also provided an update on its business.
STVF noted that the pace of new stevia product introductions is staggering, with over 500 new products launched globally in 2011 alone. Some of these products such as Coke’s Vitaminwater Zero brand have experienced considerable success.
Although the pace of growth is tremendous, over 85% of U.S. consumers still have never purchased food and beverage products that contain stevia. However, awareness is rising fast.
Stevia First said that with more than 10 stevia manufacturers worldwide, not every company will be an instant success. In fact, some of current growers and processors of stevia may fall victim to new market entrants, sophisticated new technologies and an overall modernization and globalization of a fragmented industry. However, STVF is confident that it can face these challenges.
Robert Brooke, CEO of Stevia First, said that the pace of growth for STVF has been fantastic.
STVF shares are down in trading today. At last check, the stock was trading 6.64% lower at $0.830 on volume of 1.83 million.
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