Ever noticed how the nutritional supplements that line the aisles of supermarkets and pharmacies are either for adults or children under the age of three?
What about the kids in the middle? Key development continues well past the age of three and optimal nutrition plays a huge role in reaching developmental milestones.
Addressing this long overlooked market in the nutritional supplements space is Nutritional Growth Solutions (ASX: NGS).
The Company focuses on the health and wellbeing of children between the ages of 3 to 12 years old. Until now, there have been no sufficiently studied options designed for healthy, short and lean children that do not meet the criteria for growth hormone therapy. Nutritional Growth Solutions’ proprietary formulations showed significant effect on growth in children after 6 months of use.
Their range of ‘Healthy Height’ shakes are clinically proven to increase growth in children aged between 3 and 9 years old by 13.8%-34% in their annual growth.
In an effort to make supplement consumption easier and give parents more options, the Company is extending their range to include a snack bar. The snack bar will be available from May exclusively online and in-store in North America.
CEO and Managing Director of NGS, Liron Fendell said “We are very excited to be able to offer our clinically proven formulation through the new snack bar product. The snack bar category was worth approximately USD $20 billion in 2018 and is growing at a 6.6% compound annual growth rate. Snack bars generally work as a heavy meal replacement and a quick healthy snack food.”
“There is increasing consumer preference for bars with less sugar and which provide high fibre content, protein, and other nutritional value. The market for clinically proven nutrition products for children is also growing due to increasing education about preventative health measures, paediatric nutrition and its effect on child development and growth.”
The Healthy Height formula is the cumulation of 20 years of research around nutrition and growth in children.
The release of snack bars is the first of several planned expansions to the NGS range which has already successfully entered numerous global markets.
For the quarter ending March 2021 NGS reported record quarterly revenue of USD $180k, which represents a 76% increase on the previous corresponding period.