TSX-V Trading Symbol: VPI
VANCOUVER, BC, June 15, 2020 /CNW/ - Vitality Products Inc. (the "Company" or "Vitality") is excited to announce it has doubled its product line from 5 to 10 products with the arrival of five new vitamin and supplement products at its national distributor. Products are now shipping to stores across Canada and are available to purchase at amazon.ca and yeswellness.com.
Sold in 600 stores nationally, Vitality is focused on its new product introduction to its established retailers and intends to attract new customers with its new innovative products, including use of powders - one of the fastest growing delivery formats in natural health. Significantly, Vitality has also launched its first children's product for sleep: Magnesium + Chamomile for Kids.
Sales of natural health products surged with COVID 19, and industry analysts expect sales to spike 12% to over $50B USD in the United States in 2020.1 Vitality intends to increase its sales with the new products and with the ongoing growth of its five existing products. Vitality will launch the five new products on amazon.com in the United States in summer 2020. As the health and wellness movement accelerates, Vitality is proud to introduce its newest products:
Daily Iron + Organic Spirulina to Build on Established Success in Iron:
- Building on the success of Power Iron + Organic Spirulina, which accounts for over 50% of Vitality's sales, Daily Iron + Organic Spirulina is a lower-dose iron (15 mg) for maintenance of healthy iron levels following use of Power Iron (45 mg). Daily Iron also focuses on pairing with prenatal supplements ($377M USD annually in sales).2
- 25% of the world's population is iron deficient and a third (34.72%) of the global iron supplement market (valued at $3B USD) is in North America.3
Trace Minerals + Chlorella to Engage the Leaders in Natural Health:
- Vitality has incorporated superfood, chlorella, with trace minerals to boost immunity and health. Trace mineral are depleted in our current food sources from modern agriculture. Vitality Trace Minerals + Chlorella will appeal to natural health buyers, staff and industry leaders.
- Vitality uses capsules, rather than traditional liquid format, to eliminate negative taste and provide consistent dosing to compete against established brands.
Magnesium + Chamomile with Three New Products for Kids and Adults:
- Magnesium is expected to surpass sales of calcium – the global leader of mineral supplements in 2020.4 Vitality is launching three magnesium products with chamomile – a first in the industry - to support relaxation and sleep. Around one million cups of chamomile tea are consumed daily.
- Vitality's first children's product: Magnesium + Chamomile for Kids (ages 3+) will appeal to parents with an estimated 40% of children being magnesium deficient.5
- Adult's format is available in both powder (for drinking) and capsules (for convenience).
In addition to innovation and new product introductions, Vitality expanded its sales and marketing team to support sales online and at retail stores in North America in 2020.
Reference: |
1 Nutrition Business Journal, NBJ Analyst Take, June 9, 2020 |
2 Grandview Research: https://www.grandviewresearch.com/industry-analysis/prenatal-vitamin-supplement-market |
3 Credence Research, Inc. "Iron Supplements Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 |
4 https://www.nutraingredients-usa.com/Article/2016/02/18/Magnesium-sales-to-surpass-calcium-sales-by-2020# |
5 Health Canada (2012). Do Canadian Adults Meet Their Nutrient Requirements Through Food Intake Alone? |
About Vitality
Visit our new Investor site: investinvitality.com
VITALITY® is an award-winning line of clean vitamins and supplements, marketed to natural health retailers and health and wellness conscious consumers. Manufactured locally in BC, and currently sold in 600 stores nationally, the products are vegan, non-GMO and third party tested. Following the proven success of the line through repeat orders and same store sales growth, the Company is focused on expanding distribution and growing sales in-store and online; evaluating, researching and developing new products for future distribution; and exploring new markets for its products.
On behalf of the Board of
VITALITY PRODUCTS INC.
"Cheryl A. Grant" (signed)
__________________________________
Cheryl A. Grant, President & CEO
Forward-Looking Information
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SOURCE Vitality Products Inc.
Vitality Products Inc., Cheryl A. Grant, President and CEO, (604) 591-1322, [email protected]
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