Else Announces United Kingdom Market Launch; Marks First Foray into the Multi-Billion Dollar European Market
06 Novembro 2023 - 9:30AM
ELSE NUTRITION HOLDINGS INC.
(BABY)
(BABYF)
(0YL.F) ("Else" or the
"Company"), today announced the launch of its
highly acclaimed, Plant-Based Complete Nutrition Toddler Drink in
the United Kingdom (“UK"), cementing its presence through
partnerships with leading UK distributors. This milestone is a
direct result of the Company’s strategic initiatives to expand into
new international markets and marks the Company’s first foray into
the multi-billion-dollar European market.
Bridging the nutritional gap: Else's over 90%
whole foods based formula offers sustainable and health conscious
alternative in the UK. The enthusiasm surrounding this market entry
is palpable, as the UK’s growing interest in plant-based nutrition
aligns seamlessly with Else Nutrition’s ethos and product
offerings.
“Entering the UK is a game-changer for us and
for health-aware families, as we introduce our products both online
and in stores,” said Hamutal Yitzhak, CEO of Else Nutrition. “The
UK represents our first entry into the lucrative European market,
and we expect to enter additional European countries in the near
term. Moreover, Europe is an ideal market for our products given
consumer preferences and trends towards healthy and nutritious
plant-based options, especially for their children. Feedback from
our partners has been overwhelmingly positive, and we anticipate
sharing key upcoming milestones as we progress.”
The European Baby Food market amounts to
US$17.42 billion in revenue in 2023* and is expected to show a
volume growth of 3.9% in 2024. The market is expected to grow
annually by 5.78% (CAGR 2023-2028). In global comparison revenue
generated in China is US$1.854 billion in 2023.
The United Kingdom 'Baby Food' market is valued
at 960 million GBP(£) in revenue** and forecasted to continuously
increase between 2023 and 2028 by a total of 182.3 million GBP (£)
(+18.98 %). Notably, the revenue of the 'Baby Food' segment has
been continuously increasing over the past years.
The European Baby Food market is experiencing
significant growth due to rising population of baby boomers and a
growing participation of women in the workforce that has encouraged
the acceptance of powdered milk and the preparation of baby food.
As consumer health awareness increases, parents are looking to
minimally processed and natural baby foods to help their children
lead a healthy lifestyle. The organic baby food sector is
experiencing significant growth in the local infant nutrition
market due to awareness of the benefits of organic products***.
*
https://www.statista.com/outlook/cmo/food/baby-food/europe**
https://www.statista.com/forecasts/1224427/baby-food-market-revenue-uk***
https://www.marketdataforecast.com/market-reports/europe-infant-nutrition-market
To delve deeper into Else Nutrition's offerings and its
revolutionary approach to kids' nutrition, visit
www.elsenutrition.com
About Else Nutrition Holdings Inc.
Else Nutrition Holdings Inc. (TSX: BABY, OTCQX:
BABYF, FSE: 0YL) is a food and nutrition company in the
international expansion stage focused on developing innovative,
clean, and plant-based food and nutrition products for infants,
toddlers, children, and adults. Its revolutionary, plant-based,
non-soy formula is a clean-ingredient alternative to dairy-based
formulas. Since launching its Plant-Based Complete Nutrition for
Toddlers, made of whole foods, almonds, buckwheat, and tapioca, the
brand has received thousands of powerful testimonials and reviews
from parents, gained national retailer support, and achieved rapid
sales growth.
Awards and Recognition:
- "2017 Best Health and Diet Solutions" award at Milan's Global
Food Innovation Summit
- #1 Best Seller on Amazon in the Fall of 2020 in the New Baby
& Toddler Formula Category
- “Best Dairy Alternative” Award 2021 at World Plant-Based
Expo
- Nexty Award Finalist at Expo West 2022 in the Plant-Based
lifestyle category
- During September 2022, Else Super Cereal reached the #1 Best
Seller in Baby Cereal across all brands on Amazon
Investor Relations Contact:
Alexandra SchiltCrescendo Communications, LLCOffice: (212)
671-1020 Ext: 305Email: baby@crescendo-ir.com
Lytham Partners, LLCMr. Ben ShamsianNew York | PhoenixOffice:
(646)829-9701E: shamsian@lythampartners.com
TSX
Neither the TSX nor its regulation services
provider (as that term is defined in the policies of the TSX)
accept responsibility for the adequacy or accuracy of this
release.
Caution Regarding Forward-Looking
Statements
This press release contains statements that may
constitute "forward-looking statements" within the meaning of
applicable securities legislation. Forward-looking statements are
typically identified by words such as "will" or similar
expressions. Forward-looking statements in this press release
include statements with respect to the anticipated dates for filing
the company's financial disclosure documents. Such forward-looking
statements reflect current estimates, beliefs, and assumptions,
which are based on management's perception of current conditions
and expected future developments, as well as other factors
management believes are appropriate in the circumstances. No
assurance can be given that the foregoing will prove to be correct.
Forward-looking statements made in this press release assume, among
others, the expectation that there will be no interruptions or
supply chain failures as a result of COVID-19 and that the
manufacturing, broker, and supply logistic agreement with the
company does not terminate. Actual results may differ from the
estimates, beliefs, and assumptions expressed or implied in the
forward-looking statements. Readers are cautioned not to place
undue reliance on any forward-looking statements, which reflect
management's expectations only as of the date of this press
release. The company disclaims any obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise, except as required by
law.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a7e4f0ec-b059-4a5c-9165-bdb498e75d60
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