(Image via Else Nutrition Holdings Inc.)
A market that is growing as fast as the global population is that of infant formula, which is estimated at $50 billion (USD) and has been forecast to grow to $109 billion in five years’ time.
A unique subset of this industry is that of plant-based infant formula, which has been cornered by
Else Nutrition Holdings Inc. (TSX-V: BABY, OTCQX: BABYF, Forum), whose team is working to bring its formulation to market.
The Israel-based food and nutrition company recently announced that it had successfully concluded a
preclinical study on its formula.
This marks a key first step on the path with the Food and Drug Administration, as well as with other regulatory authorities, to demonstrate safety and nutrient bioavailability of the Else infant formula. The study results demonstrated proper growth like a dairy-based infant formula, in a neonatal preclinical model.
No one else is pursuing a product like this. So far, the market is dominated by milk-based formula, with soy-based alternatives the only other offering. Clearly there is strong demand for Else Nutrition’s plant-based formula, as the company has been tracking online sales growth. The company recently noted that its site traffic was up 48% in Q4 2021 compared to the same quarter two years prior.
As the company builds out the infrastructure to go global this year, it already made major news earlier this year with the announcement that its toddler and kids nutrition products are now available on
Walmart’s website. Walmart operates the US’s largest grocery retailer online store. According to eMarketer, its US e-commerce sales are projected to reach over $64 billion (USD) by the end of the year.
Else Nutrition followed this news up with the announcement that its plant-based complete nutrition products for toddlers and kids are also now available on
Kroger’s website, as well as its offshoot, Vitacost, an e-commerce leader in the healthy and organic foods space.
Well protected with patents, this a massive step forward for the company. Else Nutrition’s Chief Executive Officer and Co-Founder, Hamutal Yitzhak explained in a media release on this news that, since its inception, the team’s vision has been to fill this major gap in the market, and to bring a whole-food, plant-based, soy-free infant formula to millions of families worldwide.
“These results mark further validation of our formulation, as we continue to push ahead in seeking FDA approval.”
The full study results will be presented at an international scientific conference on pediatric nutrition and growth in March 2022.
Focused on developing innovative, clean, and plant-based food and nutrition products for infants, toddlers, children, and adults, Else Nutrition represents the beginning of a dramatic shift in an emerging opportunity in children’s nutrition.
Plant-based nutrition is clearly popular, but children have the most limited options. With the belief that kids deserve a real alternative to dairy-based nutrition, its revolutionary, plant-based, non-soy, formula is a clean-ingredient alternative to dairy-based formula, coming to more and more store shelves near you.
To keep up to date with all that is going on with the company, visit
elsenutrition.com.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.