Herborium Group, Inc. (OTCMKTS:HBRM) is seeing heavy selling pressure on Monday.
As of 10:58, HBRM stock is down by 17% to $0.0012 with more than 219.56 million shares, compared to its average volume of 111.26 million shares. The stock has moved within a range of $0.0011 – 0.0016 after opening the trade at $0.0015.
Herborium To Develop Proprietary Protein Bar with Unique Skin Benefits and Weight Management Properties
- announced that it will be launching its new, proprietary protein derma – bar that combines the benefits of clear, healthy and youthful skin with healthy weight management, in the 4th Quarter of 2021.
- The bar that comes in different flavors to satisfy diversified consumers pallet is targeting a rapidly growing population of protein bar favoring consumers in particular and functional foods customers at large. The target distributors such as Whole Foods, TraderJoe, Walmart and Target will be canvased to distribute this highly competitive product. There is no protein bar on the market that also targets skin health.
- “Fortune Business Insights” says that the global protein bar market size is expected to reach USD 7.03 billion globally by 2027 with the US market alone achieving over $3 Billion. In addition, the uniqueness of Herborium’s Derma-Bar is based on the fact that it also belongs to the category of “beauty positioned supplements” that grew 61% in sales in USA in the past year. This represent the largest growth among countries with the top seven highest sales in the category.
- The US posted $144 million in sales of beauty supplements in 2020 compared to $89 million the previous year and made it to the top five countries for sales, overcoming Germany and France which have had stronger sales than the US in the past few years. The fact that the Herborium bar belongs to two not just one fast growing categories of products provides an additional factor positively shaping revenues expectations for Herborium.