There’s massive demand for plant-based foods. So much so, the market could be worth up to $74.2 billion by 2027, according to Research and Markets. By 2030, according to Fortune, sales are expected to increase five-fold by 2030. All as millions adopt healthier, meat-free lifestyles. Even Tyson, Smithfield, Perdue, Hormel, and Nestle are all jumping on plant based bandwagon. That’s a powerful catalyst for companies, such as Komo Plant Based Foods (CSE:YUM) (OTC:KOMOF), Else Nutrition Holdings Inc. (TSXV: BABY)(OTCQX: BABYF)(FSE:0YL), Oatly (NASDAQ:OTLY), Guru Organic Energy Corp. (TSX:GURU), and Goodfood Market Corp. (TSX:FOOD).
Look at Komo Plant Based Foods (CSE:YUM)(OTC:KOMOF)
Komo Plant Based Foods Inc., a premium frozen plant-based food company, is pleased to announce that it has successfully ramped up production through its new co-manufacturing partner and completed fulfilment last week of purchase orders for all four of its distributors.
This shipment of products have been produced with newly updated, retail-ready packaging and refreshed formulas. Distributors have picked up the products for delivery to new and existing retail locations. With last week’s orders and delivery of 1,788 kilograms (approximately 4,000 pounds) of product, Komo expects a substantial increase in revenues for this quarter over previous quarters. New retail locations are expected to be announced over the next few months.
“We are pleased to now have the production capability to expand the distribution of our plant-based products,” says Jeffrey Ma, President and CEO of Komo’s operating subsidiary, Komo Comfort Foods. “We launched locally earlier this year with a speed to market approach locally and to validate our product-market fit in the frozen food category. With the packaging and formula revamp, we were able to incorporate the feedback from our customers over the past few months. Finding the right co-manufacturing partner was our goal for the fourth quarter of this year to help unlock our ability to supply our products. This paves the way for expansion of our direct to consumer business and retail distribution in the United States and Canada. More importantly, we continue to pursue our mission to make plant-based meals a staple at every dinner table.”
Komo currently manufactures seven plant-based frozen products, including plant-based Lasagna, Shepherd's Pie and Chickenless Pot Pie and has recently launched a new line - Komo Plant-Based Meal HelpersTM - versatile meal starters to allow the creation of many dishes at home. The company has several new products in development planned for launch later this year.
Other related developments from around the markets include:
Else Nutrition Holdings Inc. announced the launch of a new dedicated Health Care Professional (HCP) Website in the U.S. Parents in the U.S. rely heavily on their pediatrician for advice when it comes to feeding their baby/toddler. In fact, data shows that 89% ask their pediatrician for a specific recommendation related to nutritional products. Additionally, many simply confirm whether what they want to use is suitable for their child, via their pediatrician. “We are pleased to provide this resource to over 80,000 pediatricians in the U.S. as well as many other healthcare professionals,” Stated Hamutal Yitzhak, CEO and Co-founder of Else Nutrition.
Oatly Inc., the world’s original and largest oat drink company, announced an increase in oat base capacity at its Ogden, Utah facility in the Americas region to support an acceleration in consumer demand. In the second half of 2021 the Company will start construction to add 75 million liters of finished goods equivalent oat base capacity. Total production will increase from an estimated 150 million liters annually at full production to an estimated 225 million liters annually to support the Company’s growth in 2022 and beyond. This will increase the Company’s total estimated capacity by the end of 2022 from 1,000 million to 1,075 million liters and from 1,400 million to 1,475 million liters of finished goods equivalent oat base capacity by the end of 2023. The Company expects its EMEA manufacturing combined with its two facilities in the Americas and two in Asia to create more than a 200% increase in its production output by the end of 2022 from the end of 2020. The Company will execute this capacity expansion within its stated plan for capital expenditures at the low end of $350 million to $400 million in 2021 provided at the time of its IPO.
Guru Organic Energy Corp., Canada’s leading organic energy drink brand, announced its results for the third quarter and nine-month period ended July 31, 2021. “In addition to achieving record revenues, maintaining solid margins and expanding our sales channel network, we are proud to have completed two game-changing transactions in the quarter that will contribute significantly to our ambitious long-term growth plans, especially in Canada,” said Carl Goyette, President and CEO of GURU. “First, our exclusive distribution agreement with PepsiCo in Canada is a strong endorsement of the GURU brand as a healthy alternative for consumers in the energy drink category. Our transition to PepsiCo's Canadian distribution operations ahead of the October 4, 2021 effective date is progressing well and as planned. This new way of doing business will vastly simplify our customer relationship management and distribution operations in Canada and will enable us to focus exclusively on supplying PepsiCo and on increasing GURU’s brand awareness as the healthy alternative in the energy drink space across Canada. Second, the $49.6 million in gross proceeds generated by our recently completed bought deal and private placement further strengthen our financial position to over $75 million of cash and credit facilities. This enables us to ramp up our brand positioning and marketing efforts across North America and in support of PepsiCo.”
Goodfood Market Corp., a leading online grocery company in Canada, leads sustainability efforts in Canada’s grocery industryby launching a fully electric refrigerated vehicle fleet – a first for any private entity in Canada. Goodfood continues to evolve and lead environmental impact through technology as the newly electric refrigerated vehicles begin rolling out across Vancouver throughout September. “As Canada aims to shift to all zero-emission electric vehicles by 2035, we are thrilled with this exciting step in launching fully electric refrigerated vehicles in Vancouver this year,” said Goodfood Chief Executive Officer, Jonathan Ferrari. “Innovation in technology is a core pillar for us at Goodfood. As we continue to set the bar for a sustainable future, like our fully recyclable Goodfood meal kit boxes and our plant-based ready-to-eat salad packaging, we want to go beyond our products and bring sustainability in grocery through delivery.”
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