Rritual Superfoods (CSE:RSF / FSE:0RW), the specialist maker of mushroom-based organic health supplements, has reported that it has already smashed through its 2021 retail distribution goals. Adaptogens, the supplements the company specialises in, are regarded as the next big thing for health food buffs and high performance athletes.
Rritual said that its products are now available in 2400 retail locations and 10,000 points of distribution. A solid retail strategy was always going to be a key part of its overall path to success.
Rritual is a functional superfood company that creates plant-based elixirs, which support immunity, focus and relaxation. We reckon the company is poised to dominate a segment where demand and sales are growing exponentially.
“We set aggressive targets coming into this year, and I am extremely proud of our team and highly encouraged by the commitment we have seen from retailers to the Rritual Superfoods brand and product line as we have surpassed those targets in a matter of months,” said Rritual CEO, David Kerbel. “We are revising our targets based on the current line up of sku’s to reach 6000 stores and 20,000 points of distribution this year, delivering on our brand promise to bring Rritual within arm’s length of consumer desire.”
Retailer commitments exceeding initial expectations
So targets are being revised upwards. Rritual has said retailer commitments are also surpassing initial expectations. New distribution partner Rite Aid, for example, has said it will be taking the Rritual product range to 20% more stores than initial anticipated. These will be carrying Rritual’s Reishi Relax, Chaga Immune and Lion’s Mane Focus products. A further 100% more Rite Aid locations will also carry Rritual’s variety pack product. This is on the back of initial retail activity, with distributors now asking for more than they initially projected for.
By the first week of July Rritual will be available in 3000 retail locations and over 10,000 points of distribution. But the company is not resting on these laurels by any means. It says it now has an R&D pipeline and will be bringing “new product offerings” to the market, generating more points of distribution as well.
USDA-certified, organic and caffeine-free
Rritual product offerings are all USDA-certified organic and represent a caffeine-free option that can be mixed with other beverages or enjoyed by itself. Rritual’s proprietary Immune-Synergy Six Mushroom Blend is the only functional health product on the market that contains a daily prebiotic blend which nourishes a healthy gut microbiome and facilitates balanced digestive function.
Rritual is operating in a fast growing market. The global functional foods market size is projected to reach USD 275.77 billion by 2025, according to a new report by Grand View Research. It is anticipated to expand at a CAGR of 7.9% during the forecast period. Increasing demand for nutritional and fortifying food additives is one of the major growth drivers.
We identified in our original analysis that distribution would be key to this company’s success. There has now been a flurry of distribution deals signed in both the US and Canada as Rritual begins to carve outs its market share in North America.