APF Holdings Invests €300,000 and Launches Sports and Health Nutrition Products, Opens New Online StoreAPF Holdings (henceforth - APF), which includes one of the largest egg producers in the Baltics, SIA Alūksnes Putnu Ferma, has started the production and sale of a new range of egg-based products - sports and health nutrition - under the Fiteg2 brand. In addition, APF has launched an online store for this product line - Fiteg2.com.
The new APF product group will feature important sports and health nutrition items such as egg white protein powder, egg membrane collagen, and egg protein bars. In total, APF has invested approximately €300,000 in the development of these new products and the creation of the online store.
APF is entering the sports and health food sector to take advantage of the significant market growth opportunities in this niche. According to market data from Innomatrix, the global demand for sports nutrition grew by 14.1% in 2023, with a market volume exceeding USD 28 billion, and this demand is expected to continue growing. The global sales volume of sports protein powder reached USD 12.9 billion in 2023, with a 14.4% annual growth. The market value of protein/energy bars reached USD 7.6 billion in 2023, with a 9.5% growth compared to the previous year
In Latvia, the sports nutrition market was valued at approximately €6 million in 2023, showing a 16% annual growth. Meanwhile, in Estonia, the sports nutrition market volume was around €9 million with a 16% annual growth, and in Lithuania, it reached €12 million with a 14% growth in 2023. Demand for sports nutrition in Latvia is expected to continue growing steadily at around 5% per year until 2028, with growth rates of 9% in Estonia and 5% in Lithuania.
“This is a strategically new niche for APF – with the Fiteg2 brand, we are entering the sports and health nutrition market, which will complement our portfolio of eggs and egg products. These are high-value-added products based on APF’s expertise in how to best utilize egg protein and other egg components. There is high demand for egg white protein powder and egg membrane collagen in various niche audiences, not only in Latvia and the Baltics, which is why we decided to create a new online store for the sale of these products. This will allow us to sell Fiteg2 products in different countries and expand our target market accordingly,” said Jurijs Adamovičs, founder of APF Holdings.
Initially, the new products will be available for purchase in the Baltic States through the online store, with plans to expand exports to other European countries and beyond. The egg white protein powder will be available in chocolate and vanilla flavors, while egg membrane collagen will be offered in capsule form, egg white protein bars will come with three various flavors: peanut butter, blueberry and chocolate.
All Fiteg2 products are manufactured by various suppliers across Europe based on APF recipes and the knowledge of its specialists, while APF’s own factories focus on the production of eggs and other egg products.
About APF Holdings:
APF Holdings (NASDAQ: EGG) is a dynamic group of companies engaged in poultry farming, chicken egg production and trading, as well as gas and organic fertilizer production related to poultry farming processes. Our portfolio includes SIA Alūksnes putnu ferma (poultry farming and egg production), SIA APF Trading (wholesale trade in chicken eggs), SIA Oluksne (providing poultry farming and egg production services), SIA APF Energy (gas and organic fertilizer production), and SIA Preiļu putni (poultry farming and young chicken rearing). Founded in 2017, APF Holdings has become a leading player in the Baltic region's poultry and egg industry.
For further information, please contact:
Jana Garanča
Marketing and Digital Projects Manager
APF Holdings
M: +371 26408922
E: jana.garanca@apfholdings.lv
Certified Adviser:
Signet Bank AS
Contact Person: Kristiāna Janvare
T: +371 67 081 128
E: Kristiana.Janvare@signetbank.com
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