Kaival Brands Innovations Group, Inc. (OTCQB KAVL) Announces Launch of Bidi Pouch, Bidi Vapor’s Newest Smokeless Nicotine Product
GRANT, Fla., Oct. 29, 2020 (GLOBE NEWSWIRE) -- via InvestorWire – Kaival Brands Innovations Group, Inc. (OTCQB: KAVL) (“Kaival Brands,” the “Company,” or “we”) is
a company focused on generating shareholder value by incubating innovative products into mature and dominant brands within their respective markets. Bidi Vapor, LLC, will soon launch the Bidi
Nicotine Pouch. Engineered to provide a premium smokeless nicotine experience to its users, the Bidi Pouch is made from a tobacco-free nicotine formulation packed into an on-the-go pouch.
Worldwide, the nicotine-pouch sector is projected to grow to $3.35 billion by 2025, up from $637.8 million in 2019, according to Market Study Report, LLC. The category has continued to explode recently, with New York-based Nielsen reporting an increase in unit sales of 498% in U.S. convenience stores over the 24 weeks ending May 30, 2020.
The Bidi Pouch is poised to take advantage of Bidi’s proprietary nicotine-delivery method on the heels of the growing popularity of the Bidi Stick. Having established a strong wholesale-distribution network with its premium vape pen, the Bidi Stick, will allow for immediate distribution of the Bidi Pouch through existing channels. Bidi Vapor continues to expand its partnerships with nationally recognized convenience retail chains such as Circle K and Fas Mart. Pending inventory ramp up, the company has positioned itself for rollout in more than 10,000 more partner locations within the quarter. With its existing distribution network from the Bidi Stick, the company seeks to capitalize by launching this new line of smokeless tobacco products to provide a new line of industry-leading quality products.
Based on Nielsen's 52-week data ending on October 17, 2020, via Goldman Sachs, the Bidi Stick by Bidi Vapor has emerged as a top five category player, having captured 7.4% market share, equal to $23.8 million, since launch. Dollar sales displayed industry-leading growth of 2333.9% during the previous 4-week period. Bidi Stick continues to expand and currently has an absolute dollar market share of 11.2% over the last 12-week period.
The Bidi Pouch is the latest product of Bidi Vapor, the manufacturer of the premium Bidi Stick. It is a nicotine delivery product available in a small package for an on-the-go and smoke-free nicotine experience. It contains a specialized TFN (Tobacco-Free Nicotine), devoid of tobacco leaf impurities, clean, 99.5% pure, and economical to produce.