Psyence Group Inc (CSE:PSYG) announced that its joint venture Goodmind has partnered with one of South Africa's largest coffee retail chain - vida e caffè - for the rollout of its functional mushroom brand in the country.
The Toronto-based company said that the product is available for sale in a sachet format, which can be added to any beverage. Goodmind is jointly owned by Psyence and South African natural wellness company Goodleaf.
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“Following the launch of our first Functional Mushroom product, Goodmind (in capsule format) in August 2021, we recognized the opportunity to extend the Goodmind offering,” said Jody Aufrichtig, executive chairman Psyence Group. “We have now developed Goodmind water-soluble, mushroom powder sachets, which blends perfectly with coffee and other beverages.”
The psychedelic wellbeing company noted that the Goodmind Functional Mushroom range has been developed using a blend of adaptogenic, non-psychedelic super mushrooms. The powder sachets are a blend of eight functional mushrooms, predominantly Lion’s Mane, Shiitake, Cordyceps, and Chaga.
“Collaborating with vida e caffè to launch South Africa’s first Functional Mushroom Cappuccino made perfect sense,”Goodleaf CEO and Founder Warren Schewitz said in a statement. “Vida e caffè has a network of over 250 coffee stores nationwide and the Functional Mushroom Cappuccino will be available in a selection of these stores.”
The global Functional Mushroom market was valued at USD 25.4 billion in 2020, and is projected to reach a compound annual growth rate of 8.44% during the forecast period 2021-2026, according to a Functional Mushrooms Market 2021 report published by Research and Markets in October 2021.
The report highlights that while demand for mushroom-based products had been increasing for some time, functional mushrooms have been "brought into the spotlight" as a result of COVID-19 and the category is experiencing accelerated growth.
Darren Levy CEO, vida e caffè said: “Following previous collaborations in the CBD space and recent collagen additions to our menu, we have seen that our consumers enjoy having functional benefits added to their daily brew. We are excited to be collaborating with the Goodmind team on this new and innovative coffee add-on offering, promoting a healthy body and mind.”
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