MIAMI, April 26, 2024 (GLOBE NEWSWIRE) -- Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a global leader in the Health & Wellness sector marketing and manufacturing nutritional supplements and foods, today announced the release of a white paper on the Nutraceuticals industry, by market analyst Arthur Goldgaber of Goldgaber Research Group.
Entitled “Sector Opportunity: Nutraceutical Industry Growth Due to Demand for Preventative Health Products,” the white paper describes how the nutraceutical industry has been growing at a robust rate thanks to an expanding interest in self-care as healthcare costs have risen.
From the white paper, “The pandemic has also spurred sales of dietary supplements such as multivitamins. Globally, the preventive healthcare technologies and services market is estimated to reach $432.4 billion by the end of 2024, according to a Grand View Research, Inc. report. The firm found that the key factors driving the market expansion include the growing awareness of self-care measures, which, in turn, helps to boost nutraceutical sales.”
The paper goes on to say, “The United States continued its leadership in the nutraceuticals industry, with a 23.4% global market share, underpinned by its robust research and development capabilities, according to Future Market Insights. The company forecasts that the global nutraceuticals market will likely climb from $418 billion in revenues in 2023 to $703 billion by 2033.”
The publication of the white paper is a part of Smart for Life’s investor outreach and education program. To view the full white paper, please visit: https://smartforlifecorp.com/wp-content/uploads/2024/04/Goldgaber_Nutraceuticals-Paper_Smart-for-Life.pdf
About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on Health & Wellness. Structured as a publicly held holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company recently concluded the execution of a restructuring plan including recapitalization of the Company with equity and debt financings, the sale of certain non-performing assets, the sale and leaseback of the Company’s 18,000 sq. ft. Doral manufacturing facility and the successful liquidation of the Company’s senior debt facility. In addition, the Company converted substantial debt obligations to equity materially improving the Company’s balance sheet. The Company has signed a definitive agreement for the acquisition of Purely Optimal Nutrition, which is expected to add additional revenue and EBITDA. For more information about Smart for Life, please visit: www.smartforlifecorp.com.
SEC Section 17(b) Disclosure
Goldgaber Research Group ("GRG") was compensated $1,000 for the commissioning of this white paper by Smart for Life, Inc. ("SMFL"). Although the white paper described herein was commissioned and paid for by SMFL the company notes that the paper was generated independently by the author, and statements by the author are his own and not attributable to SMFL. Readers are advised to review the white paper in its entirety, including the disclosures and disclaimers noted therein.
Forward-Looking Statements
This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations of Smart for Life’s future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause Smart for Life’s actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in “Risk Factors” included in our filings with the Securities and Exchange Commission.
Disclaimer
The information provided in this press release is intended for general knowledge only and is not a substitute for professional medical advice or treatment for specific medical conditions. Always seek the advice of your physician or other qualified health care provider with any questions you may have regarding a medical condition. This information is not intended to diagnose, treat, cure or prevent any disease.
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Tel: (212) 671-1021
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