A New Zealand nutritional ingredients producer expects to make multi-million dollar sales over the next few years following a deal with a major US-based distributor.
Wellington-based Anagenix has partnered up with Stratum Nutrition to launch two of its kiwifruit based supplement products into overseas markets.
Stratum distributes dietary and supplementary products into international markets which it estimates to be worth $100 billion.
Its president Jeremy Moore says the New Zealand company is already selling its product in the US and Canada.
He says they are starting to see some good interest in Europe, but there are a few barriers such as the fact Europe has a difficult regulatory environment and from a market penetration standpoint Europe tends to be quite conservative.
Mr Moore says the evolution is likely to be from North America and then probably South East Asia and Australia, and Europe sales are likely to become stronger in about two years.
He says although the market has slowed following the global financial crisis, there is strong growth in the dietary supplement sector.
Mr Moore says there is more opportunity in the partnership.
He says one of the reasons Stratum Nutrition wanted to partner with Anagenix is because of the relationships they have with the New Zealand research communities.
Mr Moore says Stratum will bring additional qualities in terms of global marketing and reach.