The plant-based product boom is picking up sizable momentum. In fact, according to a recent report from Meticulous Research, the plant-based food market could be worth $74.2 billion by 2027, growing at a CAGR of 11.9%. “The growth in this market is mainly attributed to the increasing incidence of intolerance for animal proteins, nutritional benefits offered by plant-based food, increasing vegan population, and venture investments in plant-based food.”
However, it’s not just food being disrupted by a shift to plant-based products. It’s also disrupting the $4.2 trillion wellness market. "Consumers are shifting their preference from chemical-based beauty products, owing to safety reasons, and are drawn towards 'natural' and 'safe' products. This, in turn, is likely to drive the adoption of vegan beauty products in the coming years. Furthermore, a growing number of social media channels and beauty bloggers are promoting makeup hacks using vegan beauty products. This, in turn, is boosting manufacturers of vegan beauty products," added Prophecy Market Insights. That’s creating opportunity for companies such as Better Plant Sciences Inc. (CSE:PLNT)(OTC:BOSQF), Else Nutrition Holdings Inc. (TSXV:BABY)(OTC:BABYF), The Very Good Food Company Inc. (CSE:VERY), Burcon Nutrascience Corporation (TSX:BU)(OTC:BUROF), and Ulta Beauty Inc. (NASDAQ:ULTA).
Better Plant Sciences Inc. (CSE:PLNT)(OTC:BOSQF) BREAKING NEWS: Better Plant Sciences Inc. announces that it has entered into an agreement to acquire JUSU branded plant-based assets from JUSU Bar Inc., JUSU Life Inc. and JUSU Cbd Inc. The assets include all inventory, packaging, raw ingredients, and intellectual property related to 300 plant-based products for the home, body and baby, as well as the e-commerce sites where the products are sold, the customer lists and all intangible assets relating to the chain of juice bars operated in British Columbia and Alberta under the name JUSU.
The purchase price of CAD $2.25 million will be paid in units consisting of escrowed securities and warrants. 22,500,000 shares shall be issued to JUSU Group with a trading restriction of no more than 30,000 shares per day, with trading restrictions extending over a 2.5 year period. 22,500,000 warrants to buy shares at $0.11 each are issued with a four month hold. Better Plant Sciences will not take on any liabilities or obligations as part of the deal. The transaction is expected to take place in the fall, once all due diligence is complete and all necessary approvals are obtained.
JUSU is a western Canadian health, wellness and lifestyle brand. It is positioned as a full spectrum wellness brand for premium plant-based products.
The asset purchase includes 300 JUSU products including:
- JUSU Life: (156 products) cleaning and germ-fighting products, essential oils and aromatherapy
- JUSU Body: (80 products) baby products, body lotions and washes, bug and tick spray, hair and face products, soaps, deodorants, shaving creams and sun care
- JUSU Bar: (35 products) cold-pressed juices, nut milks, health shots, smoothies and smoothie bowls, cold-brew, plant-based coffees, wraps and chia cups
- JUSU Cbd: (30 formulas) cold-pressed juices, elixirs, health shots, skin care, cosmetics, aromatherapy, supplements and pet care
“I created JUSU because I was not satisfied with the products that were available on the market. I wanted to be able to provide my family with natural products that are safe and effective. That mission was at the core of everything we developed,” says Bruce Mullen, JUSU Founder and CEO. “The Better Plant Sciences team is exactly the kind of partner that I have been looking for. Their team has the knowledge, drive, and experience to take what I have built with JUSU to the next level.”
A 2019 report by BIS Research highlighted that the plant-based food and beverage alternatives market is expected to reach $80.43 billion by 2024, with a CAGR of 13.82% from 2019 to 2024. Statista estimates that the skincare segment will increase by approximately $48 billion over that same period to $189 billion by 2025.
“JUSU is an excellent fit for the Better Plant Sciences portfolio of plant-based products that promote health, humanity and sustainability,” says Penny White, CEO of Better Plant Sciences Inc. “JUSUs diverse value chain incorporates e-commerce, wholesale and franchise paths to market, and with this we are excited to diversify the ways that we reach our customers.”
Other related developments from around the markets include:
Else Nutrition Holdings Inc. (TSXV:BABY)(OTC:BABYF) 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.
The Very Good Food Company Inc. (CSE:VERY) announced that it has signed an agreement with three third party logistics providers to increase shipping speed and reduce associated costs for its ecommerce store orders. The Company has also made improvements to its Victoria facility to increase throughput and position the facility for a near-term ramp up in production. The Company has signed agreements with three strategically located third party logistics providers in North America. The new distribution hubs are expected to substantially reduce shipping costs, while also significantly improving speed of delivery to customers. The 3PL facilities are located in Ontario and on both U.S. coasts, with capabilities of reaching anywhere in North America in 2-3 days via ground transportation. CEO Mitchell Scott stated: "The 3PL hubs were the next critical step in building our ecommerce business to be truly scalable. Previously, all shipping was centralized out of our Victoria facility, which delayed shipping times for customers and required cost-intensive air mail."
Burcon Nutrascience Corporation (TSX:BU)(OTC:BUROF) a global technology leader in the development of plant-based proteins, announced that Burcon and ADM have agreed to terminate the license and production agreement dated March 4, 2011 made among Burcon, Burcon NutraScience (MB) Corp. and ADM for CLARISOY™ soy protein effective August 7th, 2020. As part of the agreement to terminate the exclusive license, the CLARISOY trademark will revert back to Burcon. Additionally, Burcon and ADM are discussing opportunities for Burcon to acquire certain processing equipment from ADM’s CLARISOY™ processing facility. Burcon will provide additional updates on its plans for CLARISOY™ in the future. Unique to any other soy proteins on the market, CLARISOY™ soy proteins offer exceptionally high solubility, clean flavor and complete protein nutrition for low pH and neutral pH beverage systems.
Ulta Beauty Inc. (NASDAQ:ULTA) announced that the Company will conduct a conference call to discuss its second quarter 2020 results on Thursday, August 27, 2020 at 5:00 p.m. Eastern Time / 4:00 p.m. Central Time. A press release detailing the Company’s second quarter 2020 results will be issued after the market closes and prior to the call. The conference call will be hosted by Mary Dillon, Chief Executive Officer, and Scott Settersten, Chief Financial Officer.
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