The food and wellness industry has grown rapidly in the last few years. There has been a rapid increase within the industry which is mostly driven by high consumer demand for healthier living and support an active lifestyle. From $707.12 billion in 2016 and projected to increase to $811.82 billion in 2021, the food and wellness industry means big business. The industry is widespread and contains a diverse range of products to fit the needs of its growing consumer base. In the last few years however, the industry has seen an increased shift to functional foods as more and more people are now turning from your everyday wellness product to premium superfoods as consumers seek to improve their health, cognitive function and overall wellbeing. The food and wellness industry is competitive, and the need to be smart and fit, to keep up and to maintain ourselves has increased so much that the demand for natural foods, functional foods and superfoods has skyrocketed.
The Covid-19 pandemic has also supercharged the growth for superfoods. The industry is at an early pace and rapid stage of development. Functional mushrooms have also been ranked as the top food trend by Whole Foods. Functional foods from mushrooms have been recorded as health aids for over 2000+ years. They are consumed in dry form and can be combined with adaptogen herbs for authentic benefits. They have a long shelf life when they are packaged and processed correctly. The global functional food market is estimated to reach $275 billion by 2025 and more specifically the global functional mushroom market is expected to surpass $50 Billion by 2025.
If we are talking about superfoods and smart foods also known as ‘Nootropics’, Rritual Superfoods (CSE: RSF) is a name investors and consumers cannot forget. Rritual offers functional mushroom and adaptogens with noticeably clear points of differentiation. With a strong emphasis on exceeding quality standards and compliance, and certified organic by USDA Organic and CCOF, Rritual Superfoods (CSE: RSF) manufactures and distributes its own premium functional food products under the companies very own ‘Rritual’ brand. Rritual Superfoods offer a small batch of elixirs which are made by limited, purpose driven and organic ingredients. With harvested mushrooms, herbal spices such as ginger and cinnamon, whole foods such as coconut and fruit powders, Rritual’s products are a perfect blend of beneficial foods with delicious taste.
RSF estimates the company will generate revenues of USD $8.4M on an annualized run-rate after the company’s first shipment which is expected in April of this year. In 2022, projections are USD $16.7 million and $25.1 million in 2023, Rritual offers premium plant-based elixirs and dominance in superfoods. Rritual aims to have US partnerships in place with 2,400 stores which includes Sprouts, HEB, Meijer’s and Publix. As part of its stage-2 roll-out in the US, RSF will also target major retailers such as WholeFoods, CVS, Krogers, Vitamin Shoppe and Target as well as targeting e-commerce giants like Amazon.com. In Canada, RSF aims to partner with London Drugs, Loblaws/Shoppers, Sobeys and Whole Foods just to name a few! Partnerships in Canada will follow once RSF receives an NPN from Health Canada. As part of their stage two roll-out in Canada, RSF plans to secure additional partnerships with regional and wellness retailers.
Rritual Superfoods has outstanding leadership with a strong background in CPG’s. At the Helm of RSF is David Kerbel, the Chief Executive Officer of Rritual Superfoods. Mr. Kerbel has over 30 years of senior experience in brokerage, retail and CPG industry and has relationships with companies such as Costco, CVS, Kroger, Walmart, Safeway. Mr. Kerbel also played a pivotal role in creating new distribution for Celsius Holding’s (NASDAQ: CELH) which led to $36 Million in sales in 2010. Also on the team is Warren Spence, the Chief Operating Officer and Director at RSF. Mr. Spence has been involved in the food and beverage industry for over 25 years and has held several senior roles with the world’s top leading brands including Red Bull and Olivieri and was most recently appointed to Head of Supply Chain for Nude Beverage in 2019.
On October 29th 2020, Rritual Superfoods Inc. came in second place at the Buyers Choice Award, the first ECRM program which connects buyers and brands within the Health and Wellness industry. The CEO of RSF was quoted “Retail buyers selected Rritual for the award because our packaging, design and formulation stood out amongst the dozens of products they evaluated”. Mr. Kerbel later stated, “Their stamp of approval on our product reinforces what we know: that Rritual products will capture the attention of shoppers on shelves and in e-comm, supporting our anticipated year-one growth”. As a result of being ranked in second place, RSF was granted to participate in a ECRM program to connect with global retailers such as Costco, Albertsons/Safeway, ALDI and Amazon!
Rritual Superfoods Inc. began trading today on the Canadian Securities Exchange under the symbol RSF. With only 59 million shares outstanding and a float of only 20M shares from the IPO (CSE: RSF) is a health and wellness company you will want to keep on your radar as the company prepares for rapid expansion and growth!
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