- “Even after the highest panic-buying period, plant-based foods growth remains strong, proving that this industry has staying power.”
- Better, the market shows no signs of slowing.
- By 2025, the market could be worth well over $27.9 billion, according to Markets and Markets.
- Better still, UBS analysts say the alternative meat market could grow 28% a year to $85 billion in the next 10 years, as reported by Business Insider.
By: Baystreet Staff
Plant-based food demand is just beginning to outpace total food sales. “This new data shows that consumers are turning to plant-based food options now more than ever,” said Julie Emmett, senior director of retail partnerships at the Plant Based Foods Association (PBFA). “Even after the highest panic-buying period, plant-based foods growth remains strong, proving that this industry has staying power.” Better, the market shows no signs of slowing. By 2025, the market could be worth well over $27.9 billion, according to Markets and Markets. Better still, UBS analysts say the alternative meat market could grow 28% a year to $85 billion in the next 10 years, as reported by Business Insider. Euromonitor estimates that the market for plant-based foods could be worth $2.5 billion by 2023, reports CNBC. It’s all creating sizable opportunity for companies such as Else Nutrition Holdings Inc. (TSXV: BABY)(OTCQX: BABYF)(FSE:0YL), Burcon NutraScience Corp. (TSX:BU)(OTC:BUROF), Beyond Meat Inc. (NASDAQ:BYND), United Natural Foods Inc. (NYSE:UNFI), and SunOpta Inc. (NASDAQ:STKL).
Else Nutrition Holdings Inc. (TSXV: BABY)(OTCQX: BABYF)(FSE:0YL) BREAKING NEWS: Else Nutrition Holdings Inc. announces the online product launch of its Else Plant-Based Complete Toddler Nutrition, the first fully certified USDA Organic, Clean Label, Plant-Based, Soy-Free nutritional drink for toddlers. Made with ingredients, vitamins and minerals that help support growth and development after a baby’s first year. Else Plant-Based Complete Nutrition is the only globally-patented, real alternative for babies beyond the first year – including those with milk intolerances/sensitivities, those looking to avoid dairy and soy, and for all families looking for a clean, plant-based option for their children.
Dairy-free, soy-free, corn syrup-free, gluten-free and non-GMO, Else Nutrition is a unique globally patented combination of whole-plant organic ingredients – almonds buckwheat and tapioca. This combination meets the gold standard equivalent of human milk nutritional composition values, based on WHO international standards, among others. Else Plant- Nutrition meets the strictest regulatory requirements and the highest nutrition standards, providing a full essential amino acid profile and a clean source of protein. It is manufactured in an infant grade U.S. manufacturing site and endorsed by a board of leading U.S. and international pediatricians and nutritionists.
“We are thrilled that today marks a huge leap forward in plant-based alternatives in the baby and toddler category,” said Hamutal Yitzhak, CEO and Co-Founder of Else Nutrition. “For more than 120 years, cow’s milk and soy have dominated. After seven years of R&D, we are finally able to offer something else to parents and bring a real, clean label alternative to families across North America, so that they will never have to compromise on the health and nutrition of their toddler again.”
Else Plant-Based Complete Nutrition for Toddlers is minimally processed. Else intends for all its future products to meet this standard. With more than seven years of research and development, Else’s breakthrough process creates nutrition products from whole plants without altering their chemistry or using highly-processed extracts, or harsh chemicals. Through this disruptive process, Else is able to maximize the nutritional value and minimize environmental impact.
Additionally, Else Nutrition’s innovation pipeline includes a breakthrough, plant-based, clean label infant formula for babies 0-12 months. It is anticipated to launch in approximately two years, currently on its pathway for final FDA approval.
Beyond the brand’s Advisory Board of Pediatricians and nutritionists, Else has already captured the attention of many influential mothers, such as Hilaria Baldwin. As a mother of four with the fifth on the way, Hilaria came across Else as she searched for nutrition products for her toddler Romeo. After using the product, Hilaria decided to partner with Else to support its product launch.
Else Plant-Based Complete Nutrition for Toddlers is now available at elsenutrition.com, currently priced at $36 for a single 22 oz. powder canister and $136 for a 4-pack. The product will also be offered on Amazon.com later this month and in select retail chains sometime during Q4 2020.
Disruptive, ‘Beyond Organic’Production Process — Else products are minimally processed, using the cleanest production process in the infant nutrition industry. Else’s ‘Beyond Organic’ disruptive manufacturing process transforms whole plants to tasty toddler nutrition, without using highly-processed extracts or derivatives, harsh chemicals, or high-fructose corn syrup. Changing only the texture of the plants, and never the fundamental chemistry, allowing for more of the nutrients that nature intended to nourish the child.
Other related developments from around the markets include:
Burcon NutraScience Corp. (TSX:BU)(OTC:BUROF), a global leader in developing functionally and nutritionally valuable plant-proteins, reported results for the year ended March 31, 2020. “Fiscal 2020 was truly a transformational year for Burcon,” said Johann F. Tergesen, Burcon’s president and chief executive officer, adding, “Coming out of the year, we have a strong balance sheet, we established the Merit Functional Foods joint venture and we partnered with Nestlé, the largest food and beverage company in the world. Through the Merit Foods joint venture, we are well advanced in building a state-of-the-art production facility to produce our unique pea and canola proteins as well as our new protein blends. The production facility, which is on track to be completed in Q4 2020, will be the only commercial facility in the world with the capability to produce non-GMO food grade canola proteins.”
Beyond Meat Inc. (NASDAQ:BYND) a leader in plant-based meat reported financial results for its second quarter ended June 27, 2020. Net revenues increased 69% to $113.3 million in the second quarter of 2020, compared to $67.3 million in the year-ago period. Growth in net revenues was primarily due to an increase in volume sold, partially offset by lower net price per pound driven by the Company’s strategic investments in promotional activity intended to encourage greater consumer trial. Growth in volume sold was driven mainly by increased retail channel sales, resulting from distribution gains both domestically and abroad, higher sales velocities at existing retail customers, and contribution from new product introductions. During the quarter, increased retail channel sales were partially offset by a reduction in foodservice channel sales as a result of the ongoing COVID-19 pandemic.
United Natural Foods Inc. (NYSE:UNFI), North America’s premier and largest food wholesaler delivering the widest variety of products to a diverse and expansive customer base, issued the following statement regarding the long-term labor agreement that it has reached with Teamsters Local 414 (“Local 414”) in Fort Wayne, Indiana. Jill Sutton, UNFI’s Chief Legal Officer, General Counsel and Corporate Secretary, commented: “We’re very pleased that Teamsters Local 414 has ratified a new long-term labor agreement for our distribution center in Fort Wayne, Indiana. UNFI’s four-year contract with Local 414 maintains competitive benefit and wage terms in line with other facilities in the Midwest. The contract also includes language updates that afford UNFI the flexibility it needs to operate and succeed as a competitive distribution business in today’s landscape. We believe this resolution is a positive development for UNFI, our valued associates in Fort Wayne and our customers.
SunOpta Inc. (NASDAQ:STKL) a leading global company focused on plant-based foods and beverages, organic ingredient sourcing and production, and fruit-based foods and beverages, announced financial results for the second quarter ended June 27, 2020. “We delivered another strong quarter, doubling adjusted EBITDA over the prior year for the third consecutive quarter. We believe our turnaround efforts have now taken root, setting us up for more consistent revenue and profitability growth going forward. The quarter represented a powerful combination of strong execution and favorable underlying category trends. Each of our three segments produced revenue growth and expanded gross margin during the second quarter,” said Joe Ennen, Chief Executive Officer of SunOpta. “Our growth continues to be led by our #1 focus area, which is plant-based foods and beverages. Despite the negative impact on volumes in the foodservice channel, as a result of COVID-19, we still produced 10% growth on an adjusted basis. This growth and our ability to offset COVID-19 impacts are a direct reflection of the strength of our plant-based platform. We are extremely bullish on our plant-based opportunity including a robust sales pipeline and incremental capacity expected to come on-line in the fourth quarter of this year.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Else Nutrition Holdings Inc. by a third party. We own ZERO shares of Else Nutrition Holdings Inc. Please click here for full disclaimer.
Source: https://www.baystreet.ca/stockstowatch/8502/Plant-Based-Foods-on-Course-to-Become-an-85-Billion-Market-Opportunity
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Stars like Mason Mount, pictured, were helped through Chelsea’s academy by Sam Page, one of the key contributors to the club’s new training app (Alastair Grant/NMC Pool)