Launching in April 2022, The Gummy Project (CSE:GUMY) is a purpose-driven Vancouver based company that will sell low sugar, plant-based, gluten-free gummy products with a portion of their profits going to support endangered “Keystone Species” through carefully selected charitable partnerships.
The global market for gummy products is expected to reach a sweet size with experts predicting it could reach $42.06 billion by 2028. Even better, Grand View Research expects it to achieve a CAGR of 12.6 percent over that same period. Healthy gummy products are predicted to drive this market as consumer behavior shifts towards healthier, more sustainable options. More specifically, the key factors will be clean and naturally-formulated gummy products offered by key market participants and increasing customer demand for nutrition with taste and flavor.
In 2021, the gummy industry saw major company acquisitions and a gummy product line launch backed by a celebrity co-creator. Catalent Inc. –– a contract drugmaker that manufactures COVID-19 vaccines –– acquired gummy vitamins maker Bettera Holdings LLC for $1 billion in cash. The Hershey Company (NYSE:HSY) also acquired Lily’s Sweets which produces sugar-free chocolates and low-sugar gummies. Additionally, celebrity Alicia Silverstone partnered with Garden of Life to launch its first-ever line of USDA organic, vegan, gluten-free and non-GMO gummies.
The report by Grand View Research also highlighted that companies in the gummy industry that outsource manufacturing to Contract Manufacturing Organizations (CMOs) can reduce capital-intensive operations while focusing on research and development, product distribution and branding and marketing activities. Naturally, companies that produce healthier gummy products through outsource manufacturing will likely present an interesting proposition for investors as the market grows.
The Gummy Project will be focused on formulating, distributing and bringing to market its plant-based
, low sugar, non-GMO, gluten-free and halal friendly products as well as other wellness products. The Gummy Project’s gummy products are manufactured in an NSF and NSF Sport Certified facility in British Columbia, Canada.
The Gummy Project’s line of products will be made with a proprietary formula consisting of all-natural flavors, set to launch in April 2022.
The Gummy Project’s line of gummy products will be in the shape of endangered “Keystone Species” (as shown in the above image – bees and sharks, or two or the most critical species on the planet today), or an organism playing a critical role in defining its ecosystem and, in some cases, providing the basis for its ecosystem’s survival. The bee shaped gummies will be a peach flavor and the shark shaped gummies will be a watermelon flavor.
The company’s endangered “Keystone Species” strategy is part of its purpose-driven business model that supports such species wellbeing. Consumers today, more than ever, expect a company to be purpose driven and that they are more inclined to support a company that makes a positive impact on society (e.g., supporting critical issues, giving back to communities, or adopting sustainable environmental practices). Based on a June 2018 survey of 1,006 Americans ages 20 and older, 79% said they have more loyalty to a purpose-driven company, 77% said they had a stronger emotional connection to a purpose driven company, 73% said they are likely to defend a purpose driven company and 70% said they are proud to be associated with a purpose-driven company. The company’s product packaging and brand messaging has been designed to communicate critical environmental issues and The Gummy Project will donate a portion of the proceeds from each unit sold to carefully selected organizations that protect individual “Keystone Species.”
The Gummy Project is also dedicated to environmental sustainability through its innovative packaging. The company’s product packaging is produced through its packaging partner that utilizes a digital printing platform. The Gummy Project’s packaging requires less energy to manufacture, produces less waste and generates a smaller carbon footprint than traditional printing technologies. The packaging process also allows the company to order on demand which eliminates packaging obsolescence, resulting in less unused plastic waste in landfills.
The company is well-primed for success with a strong purpose-driven business model that reduces capital costs while supporting an aggressive marketing strategy and extensive customer experience research. The Gummy Project’s model includes leveraging third-party multichannel logistics and outsourced contract manufacturing with a Canadian-based manufacturer to fulfill e-commerce and wholesale market needs. The Gummy Project also plans to launch an omnichannel marketing strategy through the use of experiential advertising, influencers, social media, SEO and branded merchandise.
The Gummy Project has a well-defined path to growth through the expansion of its product line. The company plans to increase its market share through product launches that also incorporate vitamins, adaptogens and other nutraceutical ingredients. The Gummy Project also plans to develop additional endangered “Keystone Species” gummy products, including elephants and palm trees. The company currently has the basis for a significant inventory launch with 80,000 gummy product bags having been ordered.
- The Gummy Project is formulating, distributing and bringing to market its plant-based, low sugar, non-GMO, gluten-free, naturally-flavored and halal friendly gummy products as well as other wellness products.
- The Gummy Project’s line of gummy products are sustainably-packaged and feature endangered “Keystone Species” shapes instead of the typical gummy bear mold.
- The endangered “Keystone Species” mold is the basis for the company’s purpose-driven mandate to donate proceeds from each unit sold to its carefully selected partnered organizations that support endangered “Keystone Species”
- The Gummy Project has established a business model that reduces capital costs through third-party multichannel logistics and outsourced contract manufacturing. The company also has plans for an aggressive omnichannel marketing strategy and extensive customer experience research.
- The company has a strong plan for growth with product line and product feature expansion, including new molds and the addition of nutraceutical ingredients such as vitamins and adaptogens.
- The Gummy Project has been selected as the supplier of gummy products to Flair Airlines.
- The Gummy Project launched its new e-commerce site at www.shopgummies.com.
- Gummy Project successfully completed the presale phase and official launch of shipping capabilities across Canada.
- The Gummy Project enters the US market with Hy-Vee Inc. as its first major retail partner.
- The Gummy Project expanded to British Columbia as an approved vendor at Sobeys Inc.
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