EZZ Life Science Holdings, an Australian company listed on the ASX (EZZ) has consolidated and strengthened its science based foundations over the past 12 months and updated its AXS category from Distributors to Pharmaceuticals, Biotechnology and Life Sciences Tools and Services.
The move is part of the business’ strategic plan to significantly increase its market share both nationally and overseas and accelerate the growth of its science based range of health and wellness products including functional foods.
The life sciences industry is one of the world’s fastest growing sectors. In Australia, health and life sciences is the country’s eight largest export sector, worth A$8.5 billion. Globally, the life sciences industry has been on the rise, growing more rapidly over the past decade even before the pandemic hit. In fact, the sector’s growth trajectory only accelerated during 2020 and into early 2021, with demand for products surging and access to capital continuing to greatly expand in both periods.
“Consumer trends are clear. Based on our research and consultation with industry and consumers, the pandemic has invoked a strong desire for consumers to seek out products that deliver a multiplicity of health and wellness benefits that are backed by science,” EZZ Life chairman, Glenn Cross said.
“The pandemic has created a science based consumer mindset. Consumers want products that are verifiably and genuinely functionally good for their health and wellness.
“In response, we have through newly formed partnerships and bolstered scientific capacity, created a development plan of a range of products that meet the needs of consumers and address their requirement for scientific validation.
“We are now continually launching new and exciting supplements and functional food products that support the science based consumer mindset and meet the health and wellness needs of the community.
“We are anticipating our new focus will deliver significant growth through 2022 and beyond.”
The EZZ Life announcement also coincides with the business’ recent success in China.
China’s total consumer spending on healthcare was RMB 2.458 trillion in 2020. This accounted for 5.9 percent of total consumer spending. This represented an increase of over 13 percent from the previous year.
“We are delighted to announce that we have launched a new partnership with Chemist Warehouse China and will be stocking our products on their Chemist Warehouse Tmall flagship shop,” Cross added.
“Tmall is the biggest B2C e-commerce platform in China, with over 500 million registered customers. This is a significant announcement for us.
“Initially, Chemist Warehouse China will stock four of products. EZZ iron jelly, EZZ Coffee Jelly, EZZ Sweet Dream Gummy and EZZ Magic Gummy. We will augment this range over time as we launch new products.
“EZZ Life already has a presence in China online through our own EZZ Tmall flagship store, so the addition of Chemist Warehouse China will further bolster our online presence and product availability.
“Globally, the health and wellness market is growing, and the functional food market is growing at a higher rate.
“We looking forward to continuing to address the growing needs of the global community with high quality products that are well researched, backed by science and deliver functional benefits and superior convenience.”
According to Cross, EZZ Life is actively solidifying and growing its reputation as a world leading Australian company that delivers groundbreaking health and wellness products to the global market. Further significant announcements will be made in the coming months regarding the business’ activities and sales growth. Some of these will also address supply chain stability ensuring seamless growth and distribution.
EZZ Life Science Holdings Limited (ASX:EZZ) is a genomic life science company with a mission to improve quality of life and human health. EZZ has a focus on genomic research and development to address four key human health challenges: genetic longevity, human papillomavirus (HPV), helicobacter pylori, and weight management. EZZ is passionate about investing in the future of consumer health through the development of e-commerce and distribution of high-quality products via omnichannel models across Australia, New Zealand, China and worldwide.