Canada NewsWire
VANCOUVER, Nov. 6, 2019
Trading Symbol TSX.V: VPI
VANCOUVER, Nov. 6, 2019 /CNW/ - Vitality Products Inc. (the "Company" or "Vitality") is pleased to announce its upcoming marketing and product launch into the United States. The Company has completed all FDA filings for its complete product line previously sold only in the Canadian market. Products manufactured in Canada have cleared customs into the United States and will be available for sale commencing in the Company's fourth quarter (November 1, 2019 – January 31, 2020).
"We are excited for Q4 and the launch of VITALITY into the United States," said Cheryl Grant, President & CEO of Vitality Products Inc. "Over the last six months we have been focused on creating new U.S. market ready labels, registering Vitality's trademark in the United States, completing the necessary FDA filings, preparing a significant quantity of product and preparing the best route to market and new customers."
The dietary supplement market in the U.S. is projected to be on the rise. By 2024 the value of the U.S. dietary supplement market is forecast to reach US$56.7 billion. This would be a significant increase from 2016 when the market was valued at US$31.7 billion.¹ The U.S. market, a high income economy, is heavily focused on preventive health and accounts for almost a quarter of global supplement sales (valued at US$132.8 billion in 2016). The main types of dietary supplements available in this market are botanicals, vitamins, enzymes, amino acids and minerals.2
| ¹https://www.statista.com/statistics/828481/total-dietary-supplements-market-size-in-the-us/ |
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| 2https/www.globenewswire.com/news-release/2019/08/28/1907727/0/en/Dietary-Supplements-Market-Global-Industry-Revenue-To-Surge-To-US-220-3-Bn-By-2022.html |
About Vitality
VITALITY® is an award-winning line of clean vitamins and supplements, marketed to natural health retailers and health and wellness conscious consumers. Manufactured locally in BC, and currently sold in over 575 stores nationally, the products are vegan, non-GMO and third party tested. Following the proven success of the line through repeat orders and same store sales growth, the Company is focused on expanding distribution and growing sales in-store and online (at vitality.ca, well.ca and amazon.ca); evaluating, researching and developing new products for future distribution; and exploring new markets for its products.