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VANCOUVER, British Columbia, Oct. 11, 2022 (GLOBE NEWSWIRE) — ELSE NUTRITION HOLDINGS INC. (BABY) (BABYF) (0YL.F) (“Other” or the “Company”), announces that it launched its Chinese flagship store on Tmall Global on September 29 and is now selling Else Nutrition Toddler Formula and Baby Cereal products directly to Chinese consumers through the store. The opening of the Chinese market is Else’s third market in its international expansion. This is the second new market for Else this year, following the company’s entry into Canada in June.
“Selling our innovative, plant-based and clean pediatric nutrition products in China is a key step in the company’s strategic plan to become a player in the global infant nutrition market. Following our recent growth in North America, we are well on our way to expanding globally. We are very excited to help meet the growing demand in China for a dairy-free, soy-free pediatric nutritional alternative, and to provide China’s younger generation with nutritionally balanced, whole plant-based alternatives. clean, dairy and soy free, especially considering the very high rate. lactose intolerance in China of about 22.4%, the additional population suspected of lactose intolerance of about 25%, and the proportion of infants and toddlers under 2 years of age who report having symptoms allergies reached 40.9% (3.7 million infants/toddlers) .
“Another indicator of the need for plant-based alternatives is the growing health and sustainability awareness among Chinese consumers, which has led to an increasing consumption of plant-based milk, especially among consumers of the younger generation. Z and millennials. The average annual growth rate of China’s plant-based milk industry is expected to remain above 20% in the coming years, and the market size is expected to reach 300 billion yuan (56. C$65 billion) by 2025,” said Else CEO and co-founder Hamutal Yitzhak.
The global infant formula market in 2021 was worth approximately $77 billion. The market is expected to grow and reach around $110 billion by 2026. China will remain the market leader with around 40% of the global market share. China’s infant formula market is expected to grow at a CAGR of 8%, from $30 billion in 2021 to $40 billion by 2025. Else has chosen to partner with Baozun, the largest service provider e-commerce market, to ensure the most effective penetration. . The flagship store is already open on Tmall, and WeChat, JD and Douyin stores are expected to open in the quarter to increase consumer reach and awareness.
“The partnership with Baozun, with their experience and their status as a ‘six-star’ partner of Tmall, was a strategic choice for Else. The one we believe will pave the way for strong market entry and continued growth in China,” added Hamutal Yitzhak, CEO and Co-Founder of Else Nutrition. “We look forward to many milestones in the Chinese market, including the upcoming launch of our store on WeChat, with its 1.25 billion active users.”
About Else Nutrition Holdings Inc.
Else Nutrition Holdings Inc. is an internationally expanding food and nutrition company focused on developing innovative, clean, plant-based food and nutrition products for infants, toddlers, children and adults. . Its revolutionary plant-based, soy-free formula is an alternative to dairy-based formula’s own ingredients. Else Nutrition (formerly INDI) won the “2017 Best Health and Diet Solutions” award at the Global Food Innovation Summit in Milan. The holding company, Else Nutrition Holdings Inc., is a publicly traded company, listed on the TSX Venture Exchange under the symbol BABY and is listed on the US OTC Markets QX board under the symbol BABYF and on the Frankfurt Stock Exchange under the symbol BABYF. symbol 0YL. Since launching its complete, plant-based toddler nutrition featuring whole foods, almonds, buckwheat and tapioca, the brand has received thousands of testimonials and powerful reviews from parents and has garnered support from national Sprouts Farmers Market retailers, and achieved rapid sales growth. . Else became the #1 best seller on Amazon in the fall of 2020 in the new baby and toddler formula category. It recently won the ‘Best Dairy Alternative’ Award 2021 at the World Plant-Based Expo and was a Nexty Award finalist at Expo West 2022 in the Plant-Based lifestyle category.
Contact with Investor Relations:
RBMG – RB Milestone Group LLC Trevor Brucato, Managing Director: [email protected]www.rbmilestone.com
Lytham Partners, LLC Mr. Ben Shamsian New York | Phoenix: [email protected] Such. : 646-829-9701
TSX Venture Exchange
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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 laws. Forward-looking statements are generally identified by words such as “will” or similar expressions. Forward-looking statements in this press release include statements regarding the expected dates for the filing of the company’s financial disclosure documents. These 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 that management believes are appropriate in the circumstances. No assurance can be given that the foregoing will prove to be accurate. Forward-looking statements made in this press release assume, among other things, the expectation that there will be no supply chain disruptions or failures as a result of COVID-19 and that the agreement to manufacturing, brokerage and supply logistics with the company does not end . Actual results may differ from the estimates, beliefs and assumptions expressed or implied by the forward-looking statements. Readers are cautioned not to place undue reliance on 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.
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Source: Else Nutrition Holdings Inc.