The company has been working toward obtaining such approval for three years, and it received Novel Food approval from FSANZ (Food Standards Australia New Zealand) for allulose. The term “Novel Food” refers to ingredients newly accepted as safe for consumption.
Allulose tastes exactly like fructose, caramelizes by heat processing, and is best applied for sugar-reduced or sugar-free products. Considering that it is not treated as an additive, like many other artificial sweeteners, it is broadly applicable in food products. Thus, focusing on growing demand for low-sugar products, Samyang believes that Australia and New Zealand are a full set of opportunities for allulose since the population is quite interested in well-being products and obesity prevention measures.
In preparation for this approval since 2021, the company could now sell as an exclusive allulose supplier in the region under its B2B brand, Nexweet. In its quest for a greater global footprint, the company gained GRAS status from the U.S. FDA since 2020 and is Kosher and Halal certified. Samyang has recently quadrupled its annual allulose output nearly fourfold with the completion of a new specialty facility built in Ulsan, South Korea, to meet demand.
Commenting on the approval, Head of Foodstuff at Samyang, Sang-Hoon Lee said it would ease the further attempts of the South Korean food company breaking into the market of North America, Japan, and Oceania with such permission issued. It is going to pursue options for partnerships with local distributors and clients of Australian and New Zealand in pursuit of market-share capture among the country’s growing low-sugar market.
