BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF), renowned for its innovative Botanical Synthesis technology, has announced a significant milestone. The company’s VINIA® Superfood Coffee and Decaf Coffee, which integrates the flagship VINIA® Red Grape Superfood into premium coffee pods, has exceeded USD $1 million in cumulative sales since its debut in December 2023.
VINIA® Superfood Coffee, crafted from 100% Arabica beans, incorporates VINIA® Red Grape Powder, delivering 23 mg of polyphenols, including 6 mg of piceid resveratrol per pod. This unique formulation, available in both Medium Roast and Decaf, aims to enhance physical energy and mental alertness through improved blood flow. The K-Cup pods are designed for compatibility with Keurig® and most single-serve brewing systems.
Since its launch, VINIA® Superfood Coffee has received a stellar customer rating of 4.8 out of 5.0 from over 136 reviews, underscoring its positive consumer impact. In comparative taste tests, 59% of participants preferred VINIA® Superfood Coffee over a leading national competitor, while 68% of decaf drinkers favored VINIA® Superfood Decaf over a major decaf brand available on Amazon.
BioHarvest’s CEO, Ilan Sobel, highlighted the success of the VINIA® Superfood Coffee line as evidence of their effective strategy to meet consumer demand for health-enhancing beverages. “Our entry into the functional coffee market has been validated by strong sales performance and positive consumer feedback. The introduction of VINIA® Hot Beverages not only broadens our market reach but also enhances profitability per unit,” Sobel stated.
Looking ahead, BioHarvest plans to introduce Nespresso® compatible pods for VINIA® Superfood Coffee by the end of the year. This expansion follows favorable taste test results that position VINIA® alongside major Nespresso offerings.
In the first quarter of 2024, following the launch of VINIA® Coffees, BioHarvest reported a gross profit of US$3.0 million, representing 56% of total product revenues. This compares to US$0.8 million, or 37%, in the same quarter of the previous year. Despite this positive financial performance, the company reported a net loss of US$6.6 million for the quarter.
For context, the Global Functional Coffee Market is projected to reach $4.03 billion USD in 2024, while the Global Functional Tea Market is expected to hit $8.1 billion in the same year.
About BioHarvest Sciences Inc.
BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF) (FSE: 8MV) stands at the forefront of Botanical Synthesis, utilizing its patented technology to produce plant-based molecules without cultivating the actual plants. The company focuses on developing science-based therapeutic solutions and proprietary nutraceutical products. For more information, visit www.bioharvest.com.