EZZ launching new hangover recovery & weight management products
Health & Biotech
From a hangover remedy to weight management, EZZ is expanding its product range to gain a foothold in the burgeoning functional food market.
Innovative leader in the genomic-tech space EZZ Life Science Holdings (ASX:EZZ) will launch four new functional food products this month, three for weight loss and management with another to lessen effects of alcohol.
Functional food is defined as modified food that claims to improve health. While it does not cure disease it is considered as helping to reduce the risk of deadly diseases by providing essential nutrients and proteins to improve overall health.
There are several reports indicating substantial growth in the functional food sector. In one the functional food market size was valued at $177,770.0 million in 2019, and is estimated to reach $267,924.4 million by 2027, registering a CAGR of 6.7% from 2021 to 2027.
According to a Fortune Business Insights report the global functional food and beverage market is projected to grow from $281.14 billion in 2021 to $529.66 billion in 2028 at a CAGR of 9.5%.
A rising demand for healthy and nutrition-rich diets, hectic lifestyles and increasing global incomes of consumers has been attributed to fuelling the functional food market.
A growing demand for on-the-go snacks containing additional nutrients and consumer interest in diet and health is also increasing demand for functional foods.
EZZ Cheers Gummy is designed as a hangover remedy and to re-hydrate, containing a combination of vitamin C and curcumin. Evidence has shown that curcumin is helpful in the relief of hangover. It exhibited an inhibitory effect on alcohol intoxication in humans, as evidenced by a reduced blood acetaldehyde concentration and reduced discomfort 。
EZZ Cherry Slim (jelly sticks) contain probiotic and fruits formulation as a healthy snack to aid in weight loss and management. Black ginger and L-arabinose are added to the product, which can help burn body fat, lower the level of cholesterol in your blood, and reduce sugar intake to achieve weight loss.
EZZ Apple Cider Vinegar, aims to be a light way to detox during the day with its powerful, smooth taste vinegar concentration.
EZZ Prune Mix is designed to promote gut health with its prune concentration to release toxins and bad bacteria from the body.
The Fortune Business Insights research showed the Asia Pacific functional food and beverage market was at US$100 billion in 2020 and is projected to register a CAGR of 10.04% during 2021-28.
In Europe, demand for foods with functional benefits is progressing at a stable pace due to increased investments by market players in research, innovation, and marketing of products.
With its strong presence in China and focus on international markets EZZ is well positioned to make the most of global growth, particularly in the Asia-Pacific region.
EZZ has a flagship online store on Tmall Global in China and is building its broader international distribution footprint.
These four products are available in Hong Kong and Macau 100 Sasa stores, Tmall, Taobao, JD. Douyin Pinduoduo and Chemist Warehouse China.
Established in 2018, EZZ has been transitioning into a fully integrated life sciences company, with a mission to improve quality of life and human health.
The company focuses on genomic research and product development to address four key areas affecting human health including genetic longevity, human papillomavirus (HPV), helicobacter pylori and weight management.
EZZ has undertaken university partnerships to advance research into these four key areas.
It has also earmarked establishing a Good Manufacturing Practice (GMP) certified manufacturing facility in Australia or New Zealand to improve production efficiency.
The company has been steadily transitioning from wholesale distribution of skincare products to direct-to-consumer sales of its own branded health supplements.
And the move has proven successful. EZZ branded health supplements were launched in March 2020 with revenue starting at a low base of $800K — representing less than 5% of revenue in that year. However, that figure surged to $11.4m in FY21, representing 51% of the company’s total revenue.
This article was developed in collaboration with EZZ, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.