Of the 22 intellectual property (IPs) granted so far, four are in Asia-Pacific; Japan, Australia, New Zealand and now India.
Hamutal Yitzhak, the firm’s CEO said: “These are highly encouraging developments in key growth markets as we aim to extend our global reach and impact.
“We continue to hear from parents across all geographies that our clean, plant-based infant and toddler formulations can provide a viable alternative for parents seeking an alternative to formulas which contain cow's milk protein or soy protein."
Its toddler formula is 100% plant-based, non-soy and is an alternative to dairy-based formulas. Almond, buckwheat and tapioca make up 92% of the formula and the other 8% is made up of vitamins, minerals, and apple juice concentrate to provide sweetness.
Yitzhak told us: “Our formula provides a well-balanced nutrition with proper levels of all macronutrients, protein, fat and carbohydrate and meets the global regulatory standards for infant and toddler nutrition which support the child’s proper growth and development.”
According to the Food and Nutrition Board, US National Academies of Sciences, the dietary reference intake (DRI) for carbohydrate and protein are 130g/day and 13g/day for toddlers.
Else Nutrition’s plant-based toddler formula provides 6% of the daily value in carbohydrate, and 10% in protein. The % daily value is calculated based on a 1,000 calorie day per day.
However, it must be noted the recommended daily intake of macro and micronutrients would vary by country.
Eyeing China and India
In addition to India, another huge market on the radar for Else Nutrition is China.
Yitzhak said: “China is one of the most lucrative and important markets for Else. The Chinese market is the largest in the category and is mainly a premium market.”
“Plant-based already has a substantial demand in China, for example Beyond Meat is planning to start its business there and distribute plant-based burgers to Chinese consumers.”
In February, the company recently completed a USD5.7 million financing round with NewH2 Limited, subsidiary of Hong Kong listed H&H Group. It also signed an MoU with H&H for distribution into Australia, New Zealand and Hong Kong within this year.
“The company is well financed and equipped to execute its operational manufacturing and marketing plans for the next year,” Yitzhak said.
The company hopes to enter China in the next two to three years via cross-border platforms
On track for US
Yitzhak told us the product was also still on track to launch in North America and Europe first, followed by selected countries afterwards.
Manufacturing for its North America market in Q2 was still going ahead, but she added: “Many things due to COVID-19 are fluid and not dependent on us, that includes travel, employment in certain areas, and the capability of the manufacturing site to manufacture on time. We do hope that if there will be a delay, it will be very short,” Yitzhak stated.
The company is working on a formulation for its plant-based infant formula, which will go through an animal study to demonstrate protein availability, as well as a clinical growth study. The process will take two to three years.