The superfoods market has been steadily growing in recent years and is projected to continue to grow substantially. Growing consumer interest in a healthy diet and wellness benefits has led to a thriving industry in the recent past and this trend is expected to continue over the next several years. This, in turn, is projected to propel the demand for superfoods in the coming years. Increasing healthcare costs, growing geriatric population, food innovations, changing lifestyle, and medical discoveries have benefitted the demand for superfoods and consequently the overall market growth. Ascending demand for natural, nutrient-rich food containing vitamins and essential minerals is further boosting the market for superfoods. Growing concerns in the U.S. regarding obesity and overall health are also contributing to the market growth. Market reports generally predict sustained growth for the industry. A report from Grand View Research said that the global superfoods market size was estimated at USD 137.0 billion in 2018 and is projected to ascend at a CAGR of 5.9% through 2025… while another report from Wise Guy Reports went even further saying that the global Superfoods market was valued at $202.460 billion in 2020 and is projected to reach $257.730 billion by 2027, at a CAGR of 6.2%. Active Companies in the markets today include Rritual Superfoods Inc. (CSE: RSF) (OTCQB: RRSFF), ELSE NUTRITION HOLDINGS INC. (OTCQX: BABYF) (TSX-V: BABY), Oatly Group AB(NASDAQ: OTLY), Conagra Brands, Inc. (NYSE: CAG), Beyond Meat® (NASDAQ: BYND).
Grand View added: “Globally, fruits & vegetables type segment is set to experience favorable growth driven by factors such as rising middle-class population, upsurge in disposable income, rapid urbanization, changing consumer lifestyle, and a rising popularity of veganism. This, in turn, is projected to drive the market for superfoods. The major trends observed in the aforementioned segment include the rise of branding, technological advancements, and the advent of online grocery shopping. North America accounted for 39.4% of the total market revenue share in 2018 and is projected to witness growth over the forecast period on account of the rising popularity of products with high nutritional content and reduced calorie level. Furthermore, extensive R&D activities and the advent of new monitoring technologies are expected to drive the market for superfoods in this developed region.”
Rritual Superfoods Inc. (CSE: RSF) (OTCQB: RRSFF) (FSE: 0RW) BREAKING NEWS: Rritual Superfoods Issues Letter to Shareholders – Rritual CEO & Director, Mr. David Kerbel, Delivers Comprehensive Progress Report, Increased 2021 Targets for Expansion – Rritual Superfoods Inc. (CSE: RSF) (OTCQB: RRSFF) (FSE: 0RW) (“Rritual” or the “Company”) is pleased to provide the following letter to shareholders, outlining the Company’s advancements and increased retail targets, as previously announced, for the Rritual Superfoods product line in the USA.
To the Shareholders of Rritual Superfoods:
It is with great excitement that I am taking this opportunity to provide you with a comprehensive picture of Rritual’s rapid growth, highlighted by wins with CVS, RiteAid, Amazon, The Good Trends and Vitacost, which combine to represent the growing fruition of our model, from product innovation to strategic agency partnerships, to retail and online expansion all the way to customer satisfaction.
Growth & Expansion
In the first six months of the year, Rritual has surpassed its retail distribution targets for the end of 2021, exceeding 2400 retail locations and 10,000 points of distribution within the first half of the year. These were aggressive targets, and I am extremely proud of our team and highly encouraged by the commitment we have seen from retailers to the Rritual Superfoods brand and product line.
We are revising our targets based on the current lineup of SKU’s to reach 6000 stores and 20,000 points of distribution by the end of this year, delivering on our brand promise to bring Rritual within arm’s length of consumer desire. Additional upward revisions of our targets may indeed be forthcoming as it relates to new products we are launching.
These revisions are based on retailer commitments to carrying the Rritual brand as a result of the e Company’s product line is being widely embraced by consumers.
National USA Retail Wins for Rritual
CVS – Rritual’s recent placement at CVS, the largest drugstore chain in the USA, is a significant milestone for Rritual’s national retail rollout. In terms of the Rritual brand, placement with CVS further establishes confidence in our products and escalating demand for this category with consumers
Rritual’s placement in CVS is doubly significant because our products have been chosen for CVS’s new HealthHUB concept, which aims to transform the ‘consumer health experience’ with education and personalized service from CVS trained professionals at the community level.
RiteAid – As the first national retail rollout, RiteAid represents a major achievement for the Rritual brand. It validates both supply and demand for the category, specifically, our product quality and the rapidly growing interest of consumers in functional superfoods.
Rite Aid has indicated 20% more stores than anticipated will carry Reishi Relax, Chaga Immune, and Lion’s Mane Focus as well as 100% more Rite Aid locations will carry the Variety Pack. The Company’s product line is being embraced by consumers, with initial sell through triggering new purchase orders and expansion of retail locations.
We are striving to not only lead this emerging category, but to define it. A significant part of achieving that goal is accomplished through gaining the trust and support of consumers through top tier retailers such as Rite Aid and CVS.
Rritual’s retail strategy is disruptive, the Company is aiming at national retailers rather than regional rollouts in order to gain market share and category defining leadership. CONTINUED… Read this full release for Rritual Superfoods Inc. at: https://www.financialnewsmedia.com/news-rsf/
Other recent developments in the markets include:
ELSE NUTRITION HOLDINGS INC. (OTCQX: BABYF) (TSX-V: BABY.V) the Plant-Based baby, toddler and children nutrition company, recently provided the following marketing activity update.
Influencer Activity – Else has successfully entered into an influencer partnership with actress, mother, writer and DIYer, Tori Spelling. With 2 of her 5 children suffering from lactose intolerance, Tori is an ardent proponent of the Else brand. Her first video for the Else organic brand, attained an impressive 100,000 views in the first 24 hours. Tori will continue to support the brand with additional content in the coming weeks.
Additionally, Else has successfully reached partnerships with Ali Fedotowsky and Jade Liz Tolbert who gained fame on the ABC Hit Show, The Bachelor. Else has previously partnered with both, successfully driving sales and hundreds of thousands of impressions. The Company is adding a new partnership with mom, singer, Youtuber and former Bachelor participant, Carly Waddell, for branded content on Instagram for the month of July.
Oatly Group AB (NASDAQ: OTLY) recently announced the pricing of its initial public offering of 84,376,000 American Depositary Shares (“ADSs”), each representing one ordinary share, 64,688,000 of which are being offered by Oatly and 19,688,000 of which are being offered by certain selling shareholders, at a public offering price of $17.00 per ADS. The underwriters of the offering will also have a 30-day option to purchase up to an additional 12,656,400 ADSs from the selling shareholders at the initial public offering price. The ADSs are expected to begin trading on the Nasdaq Global Select Market on May 20, 2021 under the ticker symbol “OTLY.”
The closing of the offering is expected to occur on May 24, 2021 subject to satisfaction of customary closing conditions.
Conagra Brands, Inc. (NYSE: CAG) recently reported results for the fourth quarter and full fiscal year 2021, which ended on May 30, 2021. All comparisons are against the prior-year fiscal period, unless otherwise noted. Certain terms used in this release, including “Organic net sales,” “EBITDA,” “Two-year compounded annualized,” and certain “adjusted” results, are defined under the section entitled “Definitions.” See page 7 for more information.
Highlights Were: The Company divested the Egg Beatersbusiness at quarter’s end; The Company achieved its leverage target of 3.5x to 3.6x and ended the year at 3.6x; The Company is revising its Fiscal 2022 guidance to reflect increased inflation since the fiscal third quarter. This impact will be particularly felt in the first half of fiscal 2022, as remediation measures – including pricing – lag the timing of realized cost inflation. The Company now expects fiscal 2022 results as follows; The Board of Directors has authorized a 14% increase to the Company’s annualized dividend rate, beginning with the dividend payable on September 2, 2021, reflecting continued confidence in the strength of the business; and the Company plans to host an investor meeting in spring 2022 to provide information on its long-term outlook.
Beyond Meat® (NASDAQ: BYND), a leader in plant-based meat, recently launched its new, awarding-winning Beyond Chicken® Tenders. Crafted to look, cook and taste like traditional chicken tenders, the delicious plant-based Beyond Chicken Tenders are breaded to perfection for a crispy outside and irresistibly tender bite. Starting today, consumers can find the latest must-try product from Beyond Meat at select restaurants across the country.
Consumer demand for chicken is continuing to skyrocket—in fact, chicken is so in-demand that the nation is currently facing a shortage. Enter Beyond Chicken Tenders, the next frontier of plant-based meat innovation and a delicious, nutritious option that does not sacrifice any of the taste and texture of traditional chicken tenders: a crispy, golden outside immediately followed by a flavorful, juicy inside. In consumer testing, the product scored at parity in overall flavor to animal-based chicken tenders. As restaurants are rebounding while struggling to meet soaring consumer demand, Beyond Meat is proud to offer a plant-based option for the ultimate everyday, nostalgic or late-night craving that’s perfect as a standalone appetizer or entree, or as an addition to sandwiches, salads and tacos.
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