- This is the company’s first line of premium products to be introduced into the market, and will be primarily distributed in countries with the highest demand for functional and medicinal mushroom superfood products – the U.S., Canada, and Japan
- The company is working with select retailers for an imminent strategic launch date.
- The company is set to launch a premium and user-friendly shopping experience through it’s e-commerce website
- The functional mushroom industry’s current demand is forecasted to $34 billion by 2024, with a global market expected to reach $50 billion by 2025
- The market has no clear brand leader at the moment, but Rritual is intent to capitalize on its innovative product line to take this position
- Company’s current marketing plan can help achieve this goal by simplifying operations and promoting business growth with a reduced time to market
Rritual Mushrooms is emerging as a premium, leading brand in the functional food and mushroom market following the launch of its innovative suite of premium functional mushroom and adaptogenic elixirs this fall. “The health and wellness benefits of mushrooms and plant-based therapies are backed by decades of scientific research. Rritual’s new line of elixirs embraces that research and provides consumers with an easy way to get a daily dose of the powerful effects,” said Dr. Mike Hart, President of Rritual, who also oversaw the development of the new line of products (https://ibn.fm/hze7A).
The premium suite of products consists of three different formulas made from the company’s proprietary blend of adaptogenic herbs and organic mushrooms: Reishi Relax, Chaga Immune, and Lion’s Mane Focus.
Developed for stress support, balancing mood, and facilitating restful sleep, the Reishi Relax blend is infused with cacao, ashwagandha root, and cinnamon to provide optimal wellness. Chaga Immune, also featuring Atragulus and the proprietary immune blend created by Rritual, works to enhance immune health and strengthen the body’s stress defenses. Lion’s Mane Focus was developed for cognitive health and enhanced memory and creativity, offering a mental boost as a result of its composition that includes Rhodiola root and Ayurvedic herbs like Bacopa.
Upon release, these premium products will be available through the Rritual website and the Rritual Amazon store. Each elixir will come in a 14 stick pack or 250-gram tub. A combo pack will also be available featuring all three elixir sticks in a 14 count pack.
Rritual’s premium products are the first premium brands to hit the functional mushroom market, a fast-growing sector where demand is growing and is forecasted to rise to $34 billion by 2024. As of right now, there is no clear leader in the industry, but Rritual may take this position with the release of its new products. Globally the market for functional mushrooms is expected to reach $50 billion by 2025. The current marketing structure of Rritual shows the plan to deliver its products to the United States, Canada, and Japan, countries with the highest demand for functional and medicinal mushroom superfood products.
Since its launch in 2019, Rritual’s sole purpose has been to help every person meet the demands within their life with style and ease through mushroom adaptogens. All products are plant-based and vegan, without the use of artificial sweeteners or fillers. Each product produced by Rritual is made with the principle of creating a product with limited, yet purposeful organic ingredients.
Rritual is currently working on two different marketing strategies – e-commerce and brick and mortar. Each of these strategies will be completed in two phases. The fall release is stage one of the e-commerce strategy currently underway. The second stage of the e-commerce strategy is to use team connections to create a direct-to-consumer experience using mediums such as Costco, CVS Pharmacy, Walmart, and Vitacost.
In stage one, the brick and mortar strategy will see the launch of the premium products in four non-competing store chains that have a shared best practice agreement. The stage two plan expands upon the first, but expansion will include 11 more retailers selling the product in a set number of their stores.
The “low hanging fruit” strategy and turnkey, global services market, will significantly lower the time it will take for Rritual’s products to find their way into a leading position within the industry. These strategies also simplify operations and support the company’s scaling efforts, helping it enhance its visibility on a market waiting for a leader.
For more information, visit the company’s website at www.WeAreRritual.com.
NOTE TO INVESTORS: The latest news and updates relating to Rritual Mushrooms are available in the company’s newsroom at http://ibn.fm/Rritual
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