- Else Nutrition (TSX:BABY) has crossed the pond with new U.K. distribution for its plant-based complete nutrition drink for toddlers
- The company boasts partnerships with leading U.K. distributors, positioning it to further expand into the US$17.42 billion European baby food market
- Else Nutrition Holdings is a global food and nutrition company offering plant-based products for infants, toddlers, children and adults
- Else Nutrition stock (TSX:BABY) is up by 50 per cent trading at C$0.30 per share as of 10:13 am ET
Else Nutrition (TSX:BABY) has crossed the pond with new U.K. distribution for its plant-based complete nutrition drink for toddlers.
The company will leverage partnerships with leading U.K. distributors, positioning it to further expand into the US$17.42 billion European baby food market. The market is expected to put up a 5.78 per cent compound annual growth rate (CAGR) through 2028. The United Kingdom baby food market, for its part, is valued at 960 million GBP and is expected to grow at a CAGR of 18.98 per cent through 2028. For perspective’s sake, the Chinese baby food market, where Else also maintains a key presence, generated revenue of US$1.854 billion in 2023.
Growth in the European baby food market has been expedited because of a rising population and a greater female presence in the workforce, both of which favor the convenience of powdered milk and prepared baby food, and equip Else with a differentiated advantage as a healthy provider in the space.
Else’s toddler nutrition formula contains more than 90 per cent whole foods, aligning with what the company describes as “the U.K.’s growing interest in plant-based nutrition,” according to today’s announcement. Feedback from distributors has been “overwhelmingly positive” to date, the announcement continues, with the company anticipating more “key upcoming milestones” in future shareholder updates.
“Entering the U.K. is a game-changer for us and for health-aware families as we introduce our products both online and in stores,” Hamutal Yitzhak, CEO of Else Nutrition, elaborated further on the strategic expansion. “The U.K. 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.”
Else Nutrition Holdings Inc. is an award-winning global food and nutrition company offering plant-based products for infants, toddlers, children and adults. It specializes in non-soy and non-dairy alternatives. Potential investors can learn more about Else by watching our feature on the company as part of The Market Herald’s Leading Edge.
Else Nutrition stock (TSX:BABY) is up by 50 per cent trading at C$0.30 per share as of 10:13 am ET. The stock is down by 50 per cent over the past year, despite Q2 2023 brick-and-mortar sales in the U.S. and Canada rising by 157 per cent year-over-year, total e-commerce sales rising 42 per cent YoY, and the company’s North American footprint growing from 3,000 to nearly 13,000 stores YoY on top of ongoing international expansion.
Join the discussion: Find out what everybody’s saying about this Canadian microcap stock on the Else Nutrition Holdings Inc. Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.