Denver, COLORADO, January 25th 2024 (NEWSWIRE) - NxGen Brands, Inc. (OTCMKTS: NXGB) (“NxGen” or the “Company”), (www.nxgenbrands.com) announces that its brand, Mad House Supps, has now produced its product in Australia under license and is ready to sell. Recently, NxGen Brands announced it plans to target the fast-growing nutrition and supplement markets of Australia and New Zealand by closing a deal to license the Mad House Supps Brand into the territory.
According to MMR PVT, the Australia Nutritional Supplements Market size was valued at USD 5.04 million in 2023. Furthermore, the total Australia Nutritional Supplements Market revenue is expected to grow at a CAGR of 10.2% from 2023 to 2030, reaching nearly USD 9.95 Million. The ‘Tablets’ category is anticipated to have 44% of the Australia Nutritional Supplements market. Tablets are a major factor driving the expansion of the nutritional supplement market in Australia. Moreover, the market size of the Vitamin and Supplement industry in Australia has been growing faster than the overall economy.
Joseph Lawanson, CEO of NxGen, stated “We said we would close a deal in that market and now we have. Here at NxGen when we promise to achieve something, we do just that. The Australian market for supplements and nutrition is growing as the population ages and more people are exercising and are concerned with their fitness levels. This is a hot, and growing, market and one that we can also expand the Storm Lifestyles Brand into. Negotiations on Storm for that territory have already begun and sample product is now on its way to our Australian friends. Our forecast from this relationship is initially in the region of $125,000 in licensing revenue per quarter that goes straight to the bottom line, by the end of 2024.”
NxGen Brands recently announced that they were launching a new Protein product in the US. Mad House’s new Protein which will be fortified with 3 sources of ultra-premium protein, plus digeseb™ which the Company says is an innovate ‘NO-BLOAT’ protein absorption ingredient, making the customers’ use experience of this product significantly better than other comparable products. The low carb, low calorie, low sugar and low-fat formula will also include a super special ‘secret ingredient’ yet to be announced, that will take the market by storm and be completely disruptive in the space. This product is slated to launch early March 2024, with further details to be launched mid-February.
The company believes that the potential for topline revenue for these products is between $1.2m and $1.6m in the first twelve months following their release. These are both profitable products and each is innovative in its own way, allowing a significant market opportunity to be explored both direct to consumer and across retail.
About NxGen Brands, Inc.
NxGen Holdings, Inc. is a publicly traded company under the symbol NXGB. The Company is building a profitable Nutritional Supplements company, comprising of several brands. www.nxgenbrands.com
This press release may contain forward-looking statements, including information about management's view of NxGen Brands, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of NxGen, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on NxGen's future results. The forward-looking statements included in this press release are made only as of the date hereof. NxGen cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, NxGen undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by NxGen.