- Doseology has signed a sales management agreement for its expansion into the U.S. retail market
- Global market for functional mushrooms is expected to reach US$13.6 billion by 2027
- The company says it will capitalize on this increased interest with its expansion U.S.
- Study by Penn State College of Medicine found that consistently consuming mushrooms resulted in a lower risk of depression
- MOOD is a life sciences company focused on mental health and wellness
- Doseology Sciences Inc. (MOOD) stock price remains unchanged for the day, trading at $0.055 per share at 3:24 pm EDT
Doseology Sciences (MOOD) has signed an agreement with Alternative Sales Management.
Alternative Sales Management will act as the company’s national sales manager to expand into the U.S. retail market.
The engagement of Alternative Sales Management comes at an opportune time, as the functional mushroom market continues to grow into the sizable U.S. retail market in 2022.
Doseology says it plans to partner with distributors that specialize in supplements and target independent retailers and specialty chains to build a strong foundation before moving on to a mass-market retailer
Notably, the AI platform, Tastewise, predicts a continued interest in functional foods, with 33 per cent more consumers treating food as medicine in 2022 compared to 2020.
The benefits of functional mushrooms have been the subject of intense study in recent years. For example, a 2021 study by Penn State College of Medicine found that consistently consuming mushrooms resulted in a lower risk of depression.
This effect is attributed to certain edible mushrooms, such as lion’s mane, having the potential to enhance neuron production and survival, which can help prevent neuropsychiatric disorders, such as depression. There are thousands of other studies that highlight the benefits of these fungi.
Further projections for the functional mushroom market include an 8.44 per cent compound annual growth rate from a projected surge in demand for functional foods and nutraceuticals from 2021 to 2026.
Additionally, according to ResearchAndMarkets.com, the global market is expected to reach US$13.6 billion by 2027 – rising at a market growth of 8.7 per cent CAGR during the forecast period.
Doseology Sciences Inc. (MOOD) stock price remains unchanged for the day, trading at $0.055 per share at 3:24 pm EDT.