VANCOUVER, BC / ACCESSWIRE / November 30, 2021 / NeutriSci International Inc. ('NeutriSci' or the 'Company') (TSXV:NU)(OTCQB:NRXCF)(FSE:1N9), an innovative technology company developing products for the nutraceutical industry, is pleased to announce that is has successfully completed the R&D of a newly developed effervescent functional mushroom tablet product for online sales in Europe and North America.
The new product line will consist of Reishi, Chaga, Cordyceps, Lion's Mane, Tremelle, and Turkey Tail mushrooms while containing a proprietary blend of CBD, CBN and or CBG; designed to complement the already potent health benefits of functional mushrooms. Packaging for the product is currently being finalized; designed around several flavor profiles, including citrus and berry.
Functional mushrooms are packed with antioxidants and nutritional value. They are widely consumed due to their medicinal properties and superfood benefits. Furthermore, increasing acceptability of mushroom for medicinal properties is boosting the sales and profit of the players currently operating in the market, which in turn, is expected to further drive the market growth for functional mushrooms.
The global functional mushroom market was valued at USD $2.5 billion in 2020, and it is estimated to register a CAGR of 8.44% during the forecast period 2021-2026 with sales exceeding $16 billion by 2026.
Mushrooms that support immune health have benefited since the start of the COVID-19 pandemic, with high interest from food, beverage, and nutritional supplement manufacturers, which has carried over to the entire mushroom category.
Cannabinoids such as CBN are known for their 'sleepiness effect.' When taken, it is shown to induce drowsiness. Sleep problems are widespread in modern society. According to the Center for Disease Control, one in three adults do not get enough sleep. Sleep-deprived individuals are more likely to suffer from the most damaging health problems of the modern world, including coronary heart disease, cancer, and arthritis.
The global sleeping aids market generated a revenue of US$78.7 billion in 2019 and is predicted to progress at a CAGR of 7.1% from 2020 to 2030 to attain a value of US$162.5 billion by 2030.
Furthermore, the increasing working hours, high workload and work pressure, and hectic work environment massively push up the stress levels and affect the quality of sleep. This subsequently boosts the sales of over-the-counter sleeping pills, which help improve the quality of sleep, throughout the globe.
Glen Rehman, CEO of NeutriSci, commented, 'This completed advancement and development of an effervescent tablet for the functional mushroom market gives us access to a market segment that is slated to grow exponentially over the coming months and years. We have identified this growth opportunity as one that is on the verge of achieving significant gains in the health sector. We are excited to see where the future opportunities take us.'
About NeutriSci International Inc.
NeutriSci specializes in the innovation, production, and formulation of nutraceutical products. Established in 2009, NeutriSci's is building sustainable sales models with Convenience, Chain Drug, and Mass Market and Supermarket retailers for its products offering co-branding as well as private label opportunities and contract manufacturing services. For more information, please visit: www.neutrisci.com.
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NEUTRISCI INTERNATIONAL INC.
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This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Statements in this press release have not been evaluated by the Food and Drug Administration. Products or ingredients are not intended to diagnose, treat, cure, or prevent any disease.
SOURCE: NeutriSci International Inc
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