HYLA Targets 11 Key European Markets With TPD
CAVE CREEK, AZ, Nov. 14, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – Endexx® Corporation (OTCQB: EDXC), a provider of innovative plant-based wellness and nutritional products, today announced that its HYLA division has completed preliminary review of its premium vegan formulated traditional e-cigarette products. Hyla is filing its TPD application in Europe. TPD is (The “Tobacco Products Directive” (2014/40/EU) which aims to improve the functioning of the internal market for tobacco and related products, while ensuring a high level of health protection for European citizens.)
The demand for the HYLA non-nicotine products is quickly gaining market share in the initial markets in Europe. Hyla’s distributors and potential clients in European markets are asking management at HYLA to add a high quality and fully compliant traditional nicotine product line, in addition to Hyla’s non-nicotine products.
“Our proprietary botanical ingredient profile, flavoring, and vegan sensitive formulations created in the United States will carry through in HYLA’s nicotine enhanced products. These factors are what differentiate HYLA’s product quality,” stated Nick Mehdi, CEO of HYLA. Mr. Mehdi added, “Hyla’s distribution partners in Europe are the top tobacco and e-cigarette distributors in Europe and have directly requested this product expansion due to ongoing demand and need for compliance leadership provided by HYLA.”
The TPD registration accelerates HYLA’s product placement into these European countries: Austria, Belgium, Czech Republic, France, Germany, Greece, Italy, Slovakia, Spain, Switzerland and the United Kingdom. Several of the listed countries have already reviewed HYLA’s non-nicotine products. The TPD registration completely opens the European market to all HYLA’s products.
According to the source *Statista:
- The E-Cigarettes market is projected to generate global revenues of US$24.6 billion in 2023.
- It is anticipated to experience an annual growth rate of 3.61% (CAGR 2023-2028) on a global scale.
- Among all countries, the United States leads in terms of revenue generation, with an estimated revenue of US$8.3 billion in 2023.
- In 2023, the revenue in the E-Cigarettes market in Northern Europe amounts to US$399.2m.
- Comparing globally, the United States generates the highest revenue in this segment, reaching US$8.2 billion in 2023.
- When considering the population, the per capita revenue in Northern Europe is estimated at US$13.25 per person in 2023 vs. US$3.81 per capita in the US Market.
“Endexx’s investment into HYLA has generated early success by providing non-nicotine electronic devices into the international markets. The HYLA brand represents high quality, vegan, and natural products, with attention to all regulations and compliance required to conduct commerce in each country,” said Todd Davis, CEO Endexx. “This registration process helps secure the success of our long- term target of being a dominant player in the international age-restricted CPG markets.”
About Endexx Corporation
Endexx Corporation develops and distributes all natural, plant-derived wellness products and topical skincare products. Its products vary from balms, creams, lotions, butters, masks, scrubs, and oils, all with the shared purpose of healthy skin and grooming wellness. The science behind these products involves a decade of clinical research in the field and lab work to provide functional formulation with ingredients for optimal absorption and support of skin health. www.endexx.com
Hyla currently markets its proprietary botanical non-nicotine, guarana and L-Dopa-based vape products in a wide variety of flavors. The Hyla device is the first non-nicotine vape product to be produced in this manner in the United States and provides an unprecedented 4,500 puffs per device. Hyla is currently being distributed in 10 countries and has signed distribution agreements with an additional nine countries. Due to recent customer demand, Hyla is now expanding its botanical product line of vapes to include nicotine versions in certain international markets where the product is regulated and allowed for sale.
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Source Globe Newswire