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FOD gathers momentum in Australian Health & Wellness Market
3 minute read
The Food Revolution Group Limited (ASX:FOD) has provided a promising market update on the roll out of Juice Lab “Wellness Shots”, representing a massive breakthrough for FOD in establishing itself as a player within the $650M Australian Health & Wellness market.
In the past week alone, the range has been accepted by Woolworths and Metcash/ IGA.
The highlights of the roll-out to date are:
- Juice Lab wellness shots now ranged in over 1,000 stores
- Sales in Coles stores exceeding expectations after 4 weeks of availability
- Woolworths has signed on the range with availability in May across both Woolworths and Woolworths Metro stores
- Metcash list range with Foodland & Ritchies availability in April and allocation to be provided for all other IGA stores
- Drakes in South Australia have also agreed to range in their stores and Distribution Centre
Juice Lab is the first to market with an all-natural, plant based wellness shot, positioning itself well against the dramatically increased consumer demand for preventative foods and beverages.
FOD’s roll-out of wellness products follows a US trend, where the uptake of ‘all natural, pick- me up shots and tonics’ has grown substantially on the back of the impacts of COVID-19.
Although the market is well established in the US, worth over U$4.8BN, the ‘wellness shot’ category in Australia is in its infancy.
CEO Tony Rowlinson commented, “We are delighted as to the positive response to Juice Lab Wellness shots by our retail partners. Having FOD’s largest customer Woolworths onboard is a fantastic outcome. The initial consumer offtake in Coles has been excellent and the team has done a good job meeting the increased demand.
"With consumers globally seeking products that deliver against immunity and provide functional benefits due to COVID- 19, we are well positioned with our extended range of wellness beverages and carbonated beverages to be rolled out into the market.
"Getting the Juice Lab shots ranged, provides us with the catalyst to introduce extended Juice Lab offerings.”
Juice Lab Offerings
The initial range includes:
- Juice Lab “Focus" which contains Ginseng, guarana, calamansi & ginger
- Juice Lab “Immunity” which contains Ginseng, turmeric & ginger
- Juice Lab “Digest” containing apple cider, acacia & wheatgrass
Alongside Wellness Shots, Juice Lab also manufactures Juice Lab Carbonated Wellness Drinks, which are being presented to all major petrol and convenience outlets including 7- Eleven, Coles Express, Ampol, Woolworths Metro and BP.
About The Food Revolution Group
The Food Revolution Group Limited (ASX:FOD) is an Australian-based food processing company that uses a combination of conventional juice processing equipment and custom-developed equipment and processes to manufacture a range of high-quality juices, fibres, wellness beverages and supplements that are sold as branded products or ingredients to customers domestically and overseas.
FOD uses a range of processing technologies, including Current Counter Extraction (CCE) technology which was developed in conjunction with Australia’s CSIRO to extract juice from fruit and vegetables. Its processing facilities are located in Mill Park, Victoria.
FOD is aiming to generate shareholder value through exploring opportunities for growth in the functional food, beverage and nutraceutical markets in Australia and key international markets.