- Global functional water market forecast to reach $158.28 billion in 2023
- Through its wholly owned subsidiary, Naturo Group, BevCanna offers full line of alkaline and plant-based mineral-infused waters within functional water market
- North American distribution network expanded significantly in recent weeks via agreements with Koyo Foods throughout Ontario and Quebec and Benefit Brand Management in populous U.S. cities
- In response to consumer demand for more options, BevCanna is launching new line of multi-packs for sale throughout Canada
There is always something on the market that health-conscious individuals crave to put in their body, whether it has anecdotal or clinical rationale behind it. Amid healthier trends away from sugary drinks, functional water continues to grow in popularity, and BevCanna Enterprises’ (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) Naturo Group is there to provide, offering its “TRACE” lineup of alkaline and mineral-infused water products sourced from the company’s pristine alkaline spring water aquifer in British Columbia. On the back of two new distribution deals, the North American retail network for TRACE products just got significantly bigger, for which the company responded with a new multi-pack options for consumers.
Alkaline waters, those with a pH between 7.1 – 9.9, are believed to deliver many health benefits, including boosting immunity. Mineral-infused water goes by several names, including black water, mineralized fulvic and humic spring water, and ionic mineral water and contains dozens of naturally occurring minerals essential to health. Proponents contest that there is no scientific evidence that either type of water conclusively helps the body, but the global functional water market forecast to reach $158.28 billion in 2023 tells a different story about what consumers think (https://cnw.fm/tY76r).
Ahead of the deals, BevCanna’s distribution network already spanned over 3,000 retail locations and online at www.mytracewellness.com, giving TRACE a strong start to compete for market share. Early in June, Naturo struck a deal with Koyo Foods, one of the largest health food distributors in Eastern Canada, to add the TRACE line to its portfolio of reputable brands, like Earths Own, Thirsty Buddha, and Gusta Artisanal Vegan, to its retailers across Ontario and Quebec. The response was immediate, with Koyo confirming that “a number of retailers” had already placed orders for TRACE (https://cnw.fm/BpKdm).
In the U.S., BevCanna inked a distribution agreement with Benefit Brand Management, a leader wholesaler of natural products. This new pact is starting out with Benefit Brand placing TRACE products at an array of U.S. retailers, including independent natural and specialty retailers and big box retailers, starting in New York, Chicago and select cities in California (https://cnw.fm/CdByT).
Currently, all the TRACE waters are sold in individual plastic and/or aluminum cans ranging in size from 355 mL to 4 L. In response to consumer demand for take-home and value-priced options, BevCanna is launching new TRACE multi-packs in national retailers across Canada.
The increased distribution and new packaging options speak to the success of BevCanna’s expert sales team, led by VP of Sales and Insights Raffael Kapusty and VP of Sales and Sales Operations Bill Niarchos. Kapusty and Niarchos are seasoned consumer package goods veterans that were instrumental in signing the Koyo and Benefit Brand deals, amongst others that are spreading TRACE products across the continent.
“We’re pleased that consumer demand for the TRACE line of alkaline and mineral-infused water products has taken off so quickly,” said Melise Panetta, President of BevCanna. “The addition of the new multi-pack options reflects the very positive response we’ve seen in the Canadian marketplace to our wellness-focused range of products,” she added.
BevCanna manufactures TRACE products in Canada from its state-of-the-art 40,000 square foot HACCP certified facility. It also performs white label production services, which are expected to generate at least $2.4 million in revenue based upon the first three contracts, a nice complement to corporate coffers while TRACE distribution continues to expand. The company still has plenty of headroom to keep growing considering the facility has capacity of 210 million bottles per annum.
For more information, visit the company’s website at www.BevCanna.com.
NOTE TO INVESTORS: The latest news and updates relating to BVNNF are available in the company’s newsroom at http://cnw.fm/BVNNF
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