Rritual Mushrooms Inc. Takes Aim at New Wellness Industry in Functional Foods Marketplace

October 16, 2020 09:25:12
  • Rritual Mushrooms Inc. is an emerging producer of premium plant-based superfood products designed to help people meet the demands of modern life with style and ease
  • The company introduced the wellness and nutraceuticals market to its suite of three mushroom and adaptogen-based elixir powders in September
  • Rritual Mushrooms’ products were created to boost immunity, support brain function and help the body fight anxiety
  • Rritual is positioned to take advantage of lifestyle trends that have promoted plant-based proteins and reduced meat consumption in recent years, as well as an invigorated interest in immunity-enhancing substances brought on by the worldwide COVID-19 pandemic

Modern lifestyle natural wellness innovator Rritual Mushrooms is growing into a wellness wonder at the heart of a fledgling industry rife with opportunity.

Market analysts at Grand View Research, Inc. reported last year that the overall functional foods market size is projected to reach $275.77 billion by 2025, expanding at a CAGR of 7.9 percent between 2019 and 2025 (https://ibn.fm/YloH9). The demand for nutraceuticals and functional foods is now expected to surge even more than anticipated last year, in part as a response to consumers’ efforts to incorporate more immunity-boosting supplements into their diets as a result of the COVID-19 pandemic, building on an already extant decline in the consumption of meat products as plant-based proteins have gained favor, according to the report.

Functional mushrooms as a segment of that marketplace is new enough that there is no dominant brand in place to lead the category. Rritual Mushrooms has completed development of a suite of premium functional mushroom and adaptogenic elixir powders that were developed by a leading team of scientists, doctors and experts across the wellness industry. The company is exploring an opportunity with an IPO as well.

The initial product line of non-psychoactive wellness elixirs includes a Chaga blend designed to boost immunity, a Lion’s Mane blend designed to support cognitive function and brain health, and a Reishi blend to help the body fight anxiety.

Chaga is found most commonly in birch forests of the Northern Hemisphere (https://ibn.fm/t68DE) and Rritual’s blend pairs it with the adaptogen Eleuthero root (https://ibn.fm/6HhEz) for a product full of bioactive polysaccharides. Adaptogens are natural substances used in herbal remedies because they are thought to increase the resistance of organisms to biological stress (https://ibn.fm/YD6DP).

The Lion’s Mane mushroom is native to North America, Europe and Asia (https://ibn.fm/Izzi0) and Rritual’s blend pairs it with the adaptogen Rhodiola root (https://ibn.fm/7YxOl). The Reishi mushroom is used in traditional Chinese medicine and has been referred to for thousands of years as the mushroom of immortality (https://ibn.fm/rW4F5). Rritual infuses it with the adaptogen Ashwagandha root (https://ibn.fm/0kOe9) for a combination rich in polysaccharides, triterpenes, amino acids and fatty acids that may improve quality of sleep for restless minds.

“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,” Rritual President Dr. Mike Hart stated in a September news release announcing the new elixir powder product lines (https://ibn.fm/7Xgnv).

The three formulations will be available in 14-stick packs and in 150-gram containers during the fall, and there will also be a 14-day variety pack that includes all three elixirs. They will be marketed through Rritual’s website and the company’s Amazon store initially, but the company expects to add outlets by building on its team connections with specialty e-commerce channels such as Costco, CVS, Walmart and Vitacost.

The company similarly anticipates building to a brick-and-mortar rollout of its products through team connections with retail outlets such as Wegmans, Fresh Thyme, Whole Foods, Shaw’s, Stop & Shop, Vitamin Shoppe, Target and Kroger submarket Ralphs and Harris Teeter stores.

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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