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Herbalife Introduces 106 New Wellness Products Globally in Q1 2023
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Herbalife launched 106 new product SKUs in Q1 2023 across 95 global markets, enhancing its commitment to addressing consumer wellness needs. The global wellness economy is projected to reach $6.06 trillion in 2023, with healthy eating and nutrition categories estimated at $981 billion. Herbalife focuses on innovation, introducing products like the Active Mind Complex for cognitive health and the China Youth Shake for children. The popular Formula 1 Meal Replacement Shake expanded its flavors in various regions, including Sea Salt Hazelnut Brownies in China. These launches aim to meet diverse consumer wellness goals and support Herbalife's independent distributors in reaching a broader customer base.
Positive
Launch of 106 new SKUs enhances product offerings.
Expansion in key wellness categories aligned with a growing market.
Introduction of science-backed products like Active Mind Complex and China Youth Shake.
New flavors for top-selling Formula 1 Meal Replacement Shake increase market appeal.
Negative
None.
Product offerings target nutrient supplementation, weight management, digestion, and other wellness segments
LOS ANGELES--(BUSINESS WIRE)--
Herbalife, a global health and wellness company and community, today announced the launch of 106 product SKUs in the first quarter of 2023, across the 95 markets the company operates in worldwide. The launch of these new products underscores the company’s ongoing commitment to expanding and evolving its quality product offerings to better meet consumer needs across several wellness categories and to promote healthy active lifestyles around the world.
The global wellness economy is expected to reach $6.06 trillion in 2023, with the healthy eating, nutrition, and weight loss categories, alone, expected to reach approximately $981 billion, according to the Statista, Global Wellness Institute 2022 forecast. However, while consumer interest in health and wellness continues to rise in 2023, unmet needs remain, according to McKinsey. Because consumers seek products and services that address a broad range of needs across the wellness ecosystem, Herbalife is continuously innovating to provide nutrition products that are grounded in efficacy, personalization, deliver multi-purpose results and meet the growing needs of today’s consumer.
“As consumers worldwide are thinking more holistically about their health, they should understand the power supplementation can have on filling nutrition imbalances and the behavior changes needed to improve their overall wellness,” said Dr. Kent Bradley, Chief Health and Nutrition Officer, Herbalife Nutrition. “Our science-backed product portfolio can provide the nutrition needed to promote a range of nutrition concerns and help people live their best lives.”
Herbalife products launched globally in Q1 included:
Herbalife Nutrition’s Active Mind Complex, formulated with Neumentix™, with a unique spearmint extract,is a scientifically proven ingredient that promotes cognitive and psychological function. *It’s vegan and gluten-free and contains a blend of carefully selected vitamins to help support normal psychological function*, mental performance** and nervous system.*** Offered in the European and African markets.
Herbalife China Youth Shakeprovides 9.5g protein, 3.5g fiber, 10 vitamins, 4 minerals, and lutein. This is the third product in China designed for Children, after the Kids Chewable Vitamin/Mineral, and DHA Gummy.
Additionally, the Company introduced new flavor revisions of existing products including its High Protein Iced Coffee in Caramel Macchiato flavor. It is low fat and contains up to 2 grams of sugar. The 100-calorie drink mix has no artificial flavors or added colors and provides 15 grams of protein and 80 mg of caffeine per serving, offering a nutritious alternative to other sugary coffee beverages. Available in the U.S., Puerto Rico, and Canada.
The Company’s flagship, top-selling Formula 1 Meal Replacement Shake is the world’s #1 health shake, according to Euromonitor, an independent research firm. In the first quarter, new flavor offerings were added including Sea Salt Hazelnut Brownies to its flavor profile in China, as well as Peach Lychee flavor in Europe and Africa. Formulated with soy protein, dietary fibers and a blend of vitamins and minerals, the shake provides an ideal balance of healthy daily nutrition. This new flavor was launched in China. Meanwhile, Brazil launched the fourth flavor of a vegetarian version of Formula 1 that is also lactose free, and gluten free.
“As we continue to develop and evolve our product profile, we want to ensure we provide a variety that not only meets consumers’ individual needs helping them achieve their unique wellness goals, but also provides our independent distributors the opportunity to reach more customers,” Bradley added.
*Folic acid, Vitamins B6, B12, C
** Pantothenic acid
*** Vitamins B6, B12, C
About Herbalife Nutrition Ltd.
Herbalife Nutrition (NYSE:HLF) is a global health and wellness company and community that has been changing people’s lives with great nutrition products and a business opportunity for its independent distributors since 1980. The Company offers science-backed products to consumers in 95 markets through entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle. Through the Company’s commitment to nourish people, communities and planet, Herbalife Nutrition pledges to achieve 50 million positive impacts – tangible acts of good – by 2030, its 50th anniversary.
