Thursday, January 25, 2024 7:40:12 AM
According to MMR PVT, the Australia Nutritional Supplements Market size was valued at USD 5.04 million in 2023. Furthermore, the total Australia Nutritional Supplements Market revenue is expected to grow at a CAGR of 10.2% from 2023 to 2030, reaching nearly USD 9.95 Million. The 'Tablets' category is anticipated to have 44% of the Australia Nutritional Supplements market. Tablets are a major factor driving the expansion of the nutritional supplement market in Australia. Moreover, the market size of the Vitamin and Supplement industry in Australia has been growing faster than the overall economy.
Joseph Lawanson, CEO of NxGen, stated, "We said we would close a deal in that market and now we have. Here at NxGen when we promise to achieve something, we do just that. The Australian market for supplements and nutrition is growing as the population ages and more people are exercising and are concerned with their fitness levels. This is a hot, and growing, market and one that we can also expand the Storm Lifestyles Brand into. Negotiations on Storm for that territory have already begun and sample product is now on its way to our Australian friends. Our forecast from this relationship is initially in the region of $125,000 in licensing revenue per quarter that goes straight to the bottom line, by the end of 2024."
NxGen Brands recently announced that they were launching a new Protein product in the US. Mad House's new Protein which will be fortified with 3 sources of ultra-premium protein, plus digeseb™ which the Company says is an innovate 'NO-BLOAT' protein absorption ingredient, making the customers' use experience of this product significantly better than other comparable products. The low carb, low calorie, low sugar and low-fat formula will also include a super special 'secret ingredient' yet to be announced, that will take the market by storm and be completely disruptive in the space. This product is slated to launch early March 2024, with further details to be launched mid-February.
The Company believes that the potential for topline revenue for these products is between $1.2m and $1.6m in the first twelve months following their release. These are both profitable products and each is innovative in its own way, allowing a significant market opportunity to be explored both direct to consumer and across retail.
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
Warren Buffett
Recent NXGB News
- NxGen Brands Inc. Forecast to Deliver 140% Growth in Q1 2024 • InvestorsHub NewsWire • 03/27/2024 11:30:00 AM
- Shares On A Rip Following News of Second Acquisition • AllPennyStocks.com • 12/07/2023 04:40:00 PM
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans • ATWT • Jun 20, 2024 7:09 AM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM