Else Announces United Kingdom Market Launch; Marks First Foray into the Multi-Billion Dollar European Market

Rhea-AI Summary

Else Nutrition Holdings Inc. has launched its Plant-Based Complete Nutrition Toddler Drink in the UK, expanding into the European market. The product is available through partnerships with leading UK distributors and will soon be available online through Amazon.uk. The move is in line with the growing interest in plant-based nutrition in the UK and the trend towards healthy and nutritious options for children. The European Baby Food market is expected to grow annually by 5.78% (CAGR 2023-2028), with the UK market forecasted to increase by 18.98% between 2023 and 2028.

Else’s innovative plant-based, dairy-free, whole foods Toddler formula is now available nationally through partnerships with leading UK distributors and will be available soon online through Amazon.uk

VANCOUVER, British Columbia, Nov. 06, 2023 (GLOBE NEWSWIRE) -- ELSE NUTRITION HOLDINGS INC. (BABY) (BABYF) (0YL.F) ("Else" or the "Company"), today announced the launch of its highly acclaimed, Plant-Based Complete Nutrition Toddler Drink in the United Kingdom (“UK"), cementing its presence through partnerships with leading UK distributors. This milestone is a direct result of the Company’s strategic initiatives to expand into new international markets and marks the Company’s first foray into the multi-billion-dollar European market.

Bridging the nutritional gap: Else's over 90% whole foods based formula offers sustainable and health conscious alternative in the UK. The enthusiasm surrounding this market entry is palpable, as the UK’s growing interest in plant-based nutrition aligns seamlessly with Else Nutrition’s ethos and product offerings.

“Entering the UK is a game-changer for us and for health-aware families, as we introduce our products both online and in stores,” said Hamutal Yitzhak, CEO of Else Nutrition. “The UK 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. Feedback from our partners has been overwhelmingly positive, and we anticipate sharing key upcoming milestones as we progress.”

The European Baby Food market amounts to US$17.42 billion in revenue in 2023* and is expected to show a volume growth of 3.9% in 2024. The market is expected to grow annually by 5.78% (CAGR 2023-2028). In global comparison revenue generated in China is US$1.854 billion in 2023.

The United Kingdom 'Baby Food' market is valued at 960 million GBP(£) in revenue** and forecasted to continuously increase between 2023 and 2028 by a total of 182.3 million GBP (£) (+18.98 %). Notably, the revenue of the 'Baby Food' segment has been continuously increasing over the past years.

The European Baby Food market is experiencing significant growth due to rising population of baby boomers and a growing participation of women in the workforce that has encouraged the acceptance of powdered milk and the preparation of baby food. As consumer health awareness increases, parents are looking to minimally processed and natural baby foods to help their children lead a healthy lifestyle. The organic baby food sector is experiencing significant growth in the local infant nutrition market due to awareness of the benefits of organic products***.

* https://www.statista.com/outlook/cmo/food/baby-food/europe
** https://www.statista.com/forecasts/1224427/baby-food-market-revenue-uk
*** https://www.marketdataforecast.com/market-reports/europe-infant-nutrition-market

To delve deeper into Else Nutrition's offerings and its revolutionary approach to kids' nutrition, visit www.elsenutrition.com

About Else Nutrition Holdings Inc.

Else Nutrition Holdings Inc. (TSX: BABY, OTCQX: BABYF, FSE: 0YL) is a food and nutrition company in the international expansion stage focused on developing innovative, clean, and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy formula is a clean-ingredient alternative to dairy-based formulas. Since launching its Plant-Based Complete Nutrition for Toddlers, made of whole foods, almonds, buckwheat, and tapioca, the brand has received thousands of powerful testimonials and reviews from parents, gained national retailer support, and achieved rapid sales growth.

Awards and Recognition:

• "2017 Best Health and Diet Solutions" award at Milan's Global Food Innovation Summit
• #1 Best Seller on Amazon in the Fall of 2020 in the New Baby & Toddler Formula Category
• “Best Dairy Alternative” Award 2021 at World Plant-Based Expo
• Nexty Award Finalist at Expo West 2022 in the Plant-Based lifestyle category
• During September 2022, Else Super Cereal reached the #1 Best Seller in Baby Cereal across all brands on Amazon
  

Investor Relations Contact:

Alexandra Schilt
Crescendo Communications, LLC
Office: (212) 671-1020 Ext: 305
Email: baby@crescendo-ir.com

Lytham Partners, LLC
Mr. Ben Shamsian
New York | Phoenix
Office: (646)829-9701
E: shamsian@lythampartners.com

TSX

Neither the TSX nor its regulation services provider (as that term is defined in the policies of the TSX) accept 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 legislation. Forward-looking statements are typically identified by words such as "will" or similar expressions. Forward-looking statements in this press release include statements with respect to the anticipated dates for filing the company's financial disclosure documents. Such 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 management believes are appropriate in the circumstances. No assurance can be given that the foregoing will prove to be correct. Forward-looking statements made in this press release assume, among others, the expectation that there will be no interruptions or supply chain failures as a result of COVID-19 and that the manufacturing, broker, and supply logistic agreement with the company does not terminate. Actual results may differ from the estimates, beliefs, and assumptions expressed or implied in the forward-looking statements. Readers are cautioned not to place undue reliance on any 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a7e4f0ec-b059-4a5c-9165-bdb498e75d60

FAQ

What product has Else Nutrition launched in the UK?

Else Nutrition has launched its Plant-Based Complete Nutrition Toddler Drink in the UK.

How is Else Nutrition expanding into the European market?

Else Nutrition is expanding into the European market through its launch in the UK.

Where can customers purchase Else Nutrition's product in the UK?

Customers can purchase Else Nutrition's product in the UK through partnerships with leading UK distributors and soon online through Amazon.uk.

What is the growth forecast for the European Baby Food market?

The European Baby Food market is expected to grow annually by 5.78% (CAGR 2023-2028).

What is the forecasted growth for the UK Baby Food market?

The UK Baby Food market is forecasted to increase by 18.98% between 2023 and 2028.