- Emerging Wellness Foods Brand Rritual Mushrooms Inc. is developing plant-based superfood products to lead out a fledgling market segment that has a high degree of promise as consumer interest in functional foods increases
- While the mushroom therapeutics subcategory of products is still new and developing, analysts researching the overall functional foods market expect the industry to grow at a CAGR of 7.9 percent to $275.77 billion between 2019 and 2025
- Rritual Mushrooms’ introductory product line draws on the reputations of the Chaga, Lion’s Mane and Reishi mushrooms as beneficial to overall wellness, combining them with herbal remedy adaptogens in powdered elixirs
- The three formulations are being rolled out this fall in 14-stick packs and in 250-gram tubs, as well as in a 14-day variety pack that includes all three elixirs
Researchers have found “enormous potential” for using mushrooms in functional foods, describing the fungal growth’s immunomodulating, anti-tumor, hypocholesterol and anti-bacterial properties as rife with opportunity for food products such as cereal and bread flours as well as cheeses and cheese-related products (https://ibn.fm/jt8xL).
That potential is now being realized with the initial slate of products from lifestyle therapeutics innovator Rritual Mushrooms Inc., whose non-psychoactive wellness elixirs include a Chaga blend designed to augment immunity, a Lion’s Mane blend designed to support cognitive function and brain health, and a Reishi blend to boost the body’s ability to fight anxiety.
Rritual Mushrooms emerged in 2019 as a fledgling company targeting a fledgling industry segment in which no dominant brand has yet emerged to lead the functional foods subcategory. The company is building toward an IPO.
Despite the apparent novelty of the mushroom wellness movement, market analysts at Grand View Research, Inc. stated last year that they expect the overall functional foods market size to reach $275.77 billion in valuation by 2025, expanding at a CAGR of 7.9 percent between 2019 and 2025 (https://ibn.fm/EbzWc), and mushroom food products stand to benefit as part of the trend.
The novel coronavirus pandemic that emerged this year is only expected to increase the demand for functional foods and other nutraceuticals as an infection-wary public seeks to utilize more immunity-boosting supplements in their diets.
In June, Rritual Mushrooms introduced Dr. Mike Hart as the company’s president who will help guide Rritual through plant-based wellness therapy developments (https://ibn.fm/ixb3Q). Hart operates his own family medicine clinic in London, Ontario, where he became the first physician in the locality to open a cannabis clinic in 2014. He continues to use wellness therapies to treat patients’ symptoms such as pain, inflammation, insomnia and depression.
“My belief is that mental fitness is a daily ritual, and Rritual’s product portfolio and approach completely supports my current research and values as a seasoned, plant-based practitioner,” Hart stated in the announcement of his appointment.
In general, mushrooms have twice the protein of asparagus, cabbage and other vegetables, and 12 times the protein found in oranges and apples. Edible mushroom are a good source of several vitamins, including thiamine (“B1”), riboflavin (“B2”), niacin, biotin and ascorbic acid (“C”) (https://ibn.fm/LVheX).
Rritual Mushroom’s product line pairs the Chaga mushroom with the adaptogen Eleuthero root, Lion’s Mane mushroom with the adaptogen Rhodiola root and the Reishi mushroom with the adaptogen Ashwagandha root for products full of bioactive polysaccharides that are helpful to the biome (https://ibn.fm/xBZac). Adaptogens are natural substances used in herbal remedies because they are thought to increase the resistance of organisms to biological stresses (https://ibn.fm/YNLPT).
The three formulations will be available in 14-stick packs and in 300-gram tubs during the fall, as well as 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 before expanding to other online and brick-and-mortar outlets.
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
“Mental Fitness is a Daily Ritual“