The plant-based food trend is only accelerating, according to Upfield U.S Inc. President and CEO, Tim Brown, as noted by Food Business News “As the plant-based food movement continues to grow, I envision future consumers not asking ‘what dairy cheese should I buy’ and ‘what vegan cheese should I buy,’ but instead just asking ‘what cheese should I buy,’” he said. “And, in retailers, I envision a future of when plant-based foods aren’t separated from meat, dairy, cheese, etc., but are merchandised together to show consumers the wide variety of options that are really available to them.”
Better, the plant-based food market could hit $74.2 billion by 2027 thanks to skyrocketing demand. Analysts at Meticulous Research say the key driver for such growth is bigger demand for sustainable and nutritious foods, as reported by Green Queen. In addition, 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). That shift is opening a substantial opportunity for companies like Else Nutrition Holdings Inc. (TSXV: BABY)(OTCQX: BABYF)(FSE:0YL), Beyond Meat Inc. (NASDAQ:BYND), Maple Leaf Foods Inc. (OTC:MLFNF)(TSX:MFI), Hain Celestial Group Inc. (NASDAQ:HAIN), and Tofutti Brands Inc. (OTC:TOFB).
Else Nutrition Holdings Inc. (TSXV: BABY)(OTCQX: BABYF)(FSE:0YL) BREAKING NEWS: Else Nutrition Holdings Inc., just announced that as part of its efforts to make its novel, plant-based toddler nutrition products accessible to families across North America, that it has officially signed a distribution agreement with KeHE Distributors. KeHE has nearly 70 years of experience servicing store owners and today has a 16-distribution center network across North America. KeHE is one of the largest and most well regarded national fresh, natural and organic and specialty food distributors in North America. This agreement will open distribution of Else’s ground breaking plant based toddler nutrition products to thousands of store shelves in the United States Distribution of Else’s first product, Plant-based Complete Nutrition for Toddlers, will commence in October 2020 from KeHE’s California Oregon distribution centers.
“From the early days of our journey our singular focus has been to deliver to families a healthy, nutritious alternative to dairy based formulas for babies and toddlers. Distribution through KeHE means that our products will soon be available to customers at their favorite stores across America. This marks a major step in distribution, and we are thrilled to be working with a real leader in natural foods distribution. KeHE and Else align perfectly, as we both share a passion for healthy eating and sustainable,” said Mrs. Hamutal Yitzhak, CEO and Co-Founder of Else.
With over 16 distribution centers, and 5,500 employees across North America, KeHE serves over 30,000 retail outlets. An employee-owned, B Corp-certified company, KeHE supplies natural food stores, supermarket chains, independent grocery stores and other specialty retailers across North America through its distribution centers.
Else Nutrition’s Plant-Based Complete Nutrition for Toddlers & Babies (12+ mo.) is now available for order on Else’s e-store at ElseNutrition.com.
Other related developments from around the markets include:
Beyond Meat Inc. (NASDAQ:BYND) is launching a new e-commerce site and a whole new way to shop for Beyond Meat products. Featuring unparalleled access to a vast portfolio of signature plant-based meats, including all-new bulk packs, mixed product bundles, limited-time offers, trial packs and more, the direct-to-consumer site is a new and convenient way to experience Beyond Meat. Available for order in the contiguous U.S., the online shop brings the plant-based meat consumers know and love directly to their doors, with 2-day1 shipping included on all orders. The addition of a direct-to-consumer site complements the company’s expansive retail presence in 26,000 retail outlets across the US, including Target, Walmart, Kroger, Safeway and Whole Foods, as well as at club stores like Costco, Sam’s Club and BJ’s Wholesale. Consumers have made their preference for Beyond Meat clear – according to the most recent 4-week SPINS data ending July 12, 2020, Beyond Meat was the #1 selling brand in refrigerated plant-based meat.
Maple Leaf Foods Inc. (OTC:MLFNF)(TSX:MFI) is continuing its rigorous safety efforts at its Brandon, Manitoba, plant to prevent workplace transmission amidst the recent COVID-19 cluster occurring in the community. The plant continues to operate safely, and Public Health experts have said on numerous occasions that there is no evidence of workplace transmission occurring at the plant. The Company is extending its efforts to reduce spread of COVID-19 within the community by reinforcing the importance of precautions such as social distancing and by making 500,000 free masks available to community members. Operationally, Maple Leaf Foods has temporarily suspended pork exports to China on a voluntary basis due to recent protocols adopted by the Chinese government for Canadian processors. The protocol requires any plant reporting a COVID-19 positive case suspend exports to China temporarily.
Hain Celestial Group Inc. (NASDAQ:HAIN), a leading organic and natural products company with operations in North America providing consumers with A Healthier Way of Life™, announced its partnership with Folds of Honor, a 501C-3 national nonprofit dedicated to providing educational scholarships to the families of fallen and disabled American service members. In celebration of the upcoming patriotic holiday, Hain Celestial is pledging their ongoing partnership with the noble charity by donating a portion of the proceeds from select Hain Celestial products (Live Clean, Sensible Portions, TERRA, and Garden of Eatin') to support this great American cause. Founded by Major Dan Rooney in 2007, Folds of Honor provides educational scholarships to the spouses and children of service members killed or disabled during U.S. military service. More than 1.4 million dependents have been affected by the wars in Afghanistan and Iraq alone, with 85 percent of those not qualifying for federal educational assistance. Without the help of civilian organizations like Folds of Honor, many of these families would not receive aid.
Tofutti Brands Inc. (OTC:TOFB) issued its results for the thirteen weeks ended March 28, 2020. Net sales for the thirteen weeks ended March 28, 2020 decreased by $275,000, or 8%, to $3,226,000, from net sales of $3,501,000 for the thirteen weeks ended March 30, 2019. The Company reported net income of $50,000 ($0.01 per share) for the thirteen weeks ended March 28, 2020 compared to net income of $23,000 ($0.00 per share) for the thirteen weeks ended March 30, 2019. To date, the pandemic has had minimal impact on the Company’s sales. The majority of the Company’s sales relate to retail products sold in supermarkets. Supermarket sales in general have seen a substantial surge in business due to the pandemic, as consumers stock up on all products that they would normally purchase. The Company experienced a slight decline in sales at the beginning of the imposition of restrictions to mitigate the spread of COVID-19 and experienced a decline with respect to food service sales to retail outlets, such as restaurants and small food shops, which account for a small part of its total business. Sales of the Company’s vegan cheese products decreased to $2,814,000 in the 2020 period from $2,978,000 in the 2019 period. Sales of the Company’s frozen dessert and frozen food products, which consist primarily of frozen dessert products, decreased to $412,000 in the thirteen weeks ended March 28, 2020 from $523,000 for the thirteen weeks ended March 30, 2019. The Company’s gross profit increased slightly to $996,000 in the period ended March 28, 2020 from $983,000 in the period ended March 30, 2019, and gross profit percentage was 31% for the period ending March 28, 2020 compared to 28% for the period ending March 30, 2019.
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.
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