PALM BEACH, Fla., May 21, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The sports nutrition market is experiencing significant growth due to the evolving preferences of consumers seeking healthier and tailored nutritional options and for maintaining muscle growth during weight loss. The sports nutrition market is experiencing robust growth due to increasing consumer awareness about the importance of fitness and healthy lifestyles. Industry players are emphasizing innovation in product development to meet the rising demand for personalized nutrition solutions. Key growth drivers include a surge in health-conscious consumers, a growing fitness culture, and a rising interest in sports activities. The market is witnessing a shift toward natural and organic ingredients, with companies striving to provide clean-label products that align with the preferences of a discerning consumer base. A report from Allied Market Research said that the global sports nutrition market generated $43,651.8 million in 2023 and is anticipated to generate $78,427.5 million by 2032, witnessing a CAGR of 6.7% from 2023 to 2032. The report said: “Despite the positive momentum, regulatory complexities pose challenges, necessitating significant investments in research and development for compliance. However, these challenges also open doors for businesses to distinguish themselves through transparent, high-quality offerings. The expanding reach of e-commerce further unlocks opportunities, allowing companies to tap into a broader consumer base and capitalize on the increasing trend of online health and wellness purchases.” Active biotech and pharma companies in the markets this week include Promino Nutritional Sciences Inc. (OTCPK: MUSLF) (CSE: MUSL), Abbott (NYSE: ABT), Celsius Holdings, Inc. (NASDAQ: CELH), Monster Beverage Corporation (NASDAQ: MNST), BellRing Brands, Inc. (NYSE: BRBR).
Allied Market Research continued: “Based on type, the protein powder segment held the highest market share in 2023, accounting for more than two-fifths of the market revenue and is estimated to maintain its leadership status throughout the forecast period. The surge in demand for protein powder in the sports nutrition market is attributed to its versatile and convenient nature. As a vital component for muscle repair and growth, protein powder caters to the increasing fitness consciousness among consumers. However, the others segment is projected to attain the highest CAGR of 13.3% from 2023 to 2032.”
Promino Nutritional Sciences Inc. (OTCPK: MUSLF) (CSE: MUSL) to Conduct Preclinical Trials Evaluating Promino’s Effectiveness in Fighting Muscle Loss Caused by Ozempic and other GLP- 1 Based Weight Loss Treatments
- An estimated 6% of American adults take GLP-1 drugs just for weight loss, according to a May 2024 KFF Health Tracking Poll
- University of Toronto Professor of Chemistry Dr. Patrick Gunning to commence preclinical trials to determine weight loss with improved muscle mass retention using the combination of Promino with GLP-1 drugs like Ozempic, Wegovy, Mounjaro and other drugs for weight loss
- Successful preclinical studies may lead to development of new Promino-based product targeting the global population using GLP-1 drugs to help increase or retain muscle mass while experiencing weight loss
Promino Nutritional Sciences Inc. ($MUSL $MUSLF) (FRANKFURT:93X) (the "Company" or "Promino") today announced that Dr. Patrick Gunning will assess the results of preclinical trials with various GLP-1 drugs and Promino in murine obesity models to improve muscle mass retention during weight loss.
Since December 2014, when the FDA approved the first GLP-1 drug for weight loss, GLP-1 drugs have become a $30 billion industry and are forecast to exceed $100 billion by 2030. GLP-1 drug treatment is so popular that U.S. demand for the drugs, known as GLP-1 agonists, exceeded supply in 2023.
According to a May 2024 KFF Health Tracking Poll, nearly 6% of American adults say they take GLP-1 drugs just for weight loss, with younger adults more likely than those 65 and older. A recent UCLA Health publication states over 8.2 million prescriptions for GLP-1 were written last year in the US.
A major side effect of this popular new class of weight loss drugs is rapid muscle loss. On GLP-1 drugs, patients can lose as much as 40% of their muscle mass.
Dr. Patrick Gunning notes, “Muscle mass loss has been associated with either lack of resistance training or insufficient protein intake. To address this issue, Promino will conduct preclinical trials to examine weight loss with improved muscle mass retention using the combination of GLP-1 drugs and Promino in murine obesity models.”
Partick Gunning is a Professor of Chemistry at the University of Toronto, Canada, Research Chair in Medicinal Chemistry, and Founder and Chief Scientific Director of the Centre for Medicinal Chemistry (UofT). Dr. Gunning has published approximately 150 papers and won over 20 research awards. On May 8, 2024, Promino announced Dr. Gunning will be conducting preclinical trials for the use of Promino in conjunction with cancer treatment protocols to help patients retain muscle mass.
“Our core patented nutritional technology is a muscle retention and recovery supplement,” stated Vito Sanzone, CEO of Promino. “I see potential for a future product to assist people taking GLP-1 drugs like Ozempic retain muscle mass while experiencing weight loss.” CONTINUED… Read this full press release and more news for Promino Nutritional Sciences at: https://drinkpromino.com/
Other recent developments in the biotech industry of note include:
Abbott (NYSE: ABT) recently announced that the U.S. Food and Drug Administration (FDA) has approved the Esprit™ BTK Everolimus Eluting Resorbable Scaffold System (Esprit BTK System), a breakthrough innovation for people with chronic limb-threatening ischemia (CLTI) below-the-knee (BTK). The Esprit BTK System is designed to keep arteries open and deliver a drug (Everolimus) to support vessel healing prior to completely dissolving.
Until today, there were no stents or drug-coated balloons approved for use below the knee in the U.S. The standard of care has been balloon angioplasty, which relies on a small balloon delivered via a catheter to the blockage to compress it against the arterial wall, opening the vessel and restoring blood flow. However, blockages treated only with balloon angioplasty have poor short- and long-term results, and in many instances the vessels become blocked again, requiring additional treatment.
Celsius Holdings, Inc. (NASDAQ: CELH), maker of CELSIUS®, the premium lifestyle energy drink formulated to power active lifestyles with ESSENTIAL ENERGY™, recently reported record first quarter 2024 financial results.
John Fieldly, Chairman and CEO of Celsius Holdings, Inc., said: "Celsius reported its best first quarter ever driving record revenue and contributing 47% of the quarterly year-over-year growth in the energy drink category. Our category share of 11.5 percent as of April 14 reflects the early impact of shelf space gains that we are earning from company-record and ongoing retailer resets, which we believe will serve as a flywheel for our continued growth. Celsius product innovation this year has delighted consumers with the most refreshing products we've ever created."
Jarrod Langhans, Chief Financial Officer of Celsius Holdings, Inc., said: "Celsius' first quarter revenue of $356 million and year-over-year growth of 37 percent is a record, despite changes in days on hand inventory by our largest customer. Our solid 51 percent first quarter gross margin reflects a balanced and disciplined approach to leveraging while simultaneously building the business and expanding globally, as well as an accelerated benefit from raw materials pricing and reduced freight costs."
Monster Beverage Corporation (NASDAQ: MNST) recently reported financial results for the three-months ended March 31, 2024. Net sales for the 2024 first quarter increased 11.8 percent to $1.90 billion, from $1.70 billion in the comparable period last year. Net changes in foreign currency exchange rates had an unfavorable impact on net sales for the 2024 first quarter of $64.4 million ($50.4 million related to Argentina). Net sales on a foreign currency adjusted basis increased 15.6 percent in the 2024 first quarter (12.6 percent exclusive of Argentina’s impact). The difference between reported net sales and net sales on a foreign currency adjusted basis was largely due to the impact of inflation related local currency price increases in Argentina, as well as the significant decrease in the Argentine Peso relative to the U.S. Dollar.
Net sales for the Company’s Monster Energy® Drinks segment, which primarily includes the Company’s Monster Energy® drinks, Reign Total Body Fuel® high performance energy drinks, Reign Storm® total wellness energy drinks, Bang Energy® drinks and Monster Tour Water®, increased 10.7 percent to $1.73 billion for the 2024 first quarter, from $1.56 billion for the 2023 first quarter. Net changes in foreign currency exchange rates had an unfavorable impact on net sales for the Monster Energy® Drinks segment of approximately $54.6 million for the 2024 first quarter ($50.4 million related to Argentina). Net sales on a foreign currency adjusted basis for the Monster Energy® Drinks segment increased 14.2 percent in the 2024 first quarter (11.0 percent exclusive of Argentina’s impact).
BellRing Brands, Inc. (NYSE:BRBR), a holding company operating in the global convenient nutrition category, recently reported results for the second fiscal quarter ended March 31, 2024. Highlights Were: Second quarter net sales of $494.6 million; Operating profit of $91.0 million, net earnings of $57.2 million and Adjusted EBITDA of $103.7 million; and Raised fiscal year 2024 net sales outlook to $1.93-$1.99 billion and Adjusted EBITDA outlook to $400-$420 million.
“Our momentum continued this quarter as we restarted meaningful shake promotions and experienced greater than forecasted shake demand. Premier Protein shake consumption growth was strong, boosted by strong velocities, new products and significant gains in household penetration. Our powder products success in mainstream channels continued this quarter, behind brand building investments and distribution gains,” said Darcy H. Davenport, President and Chief Executive Officer of BellRing. “Our greenfield facilities continue to scale up and overall shake capacity expansion is on track. Our first half performance gives us greater confidence to deliver our second half expectations and drives our decision to raise our full year outlook.”
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