The plant based boom is here to stay. In fact, “The health benefits of a plant-based diet, including lowered risk of heart disease, play a big role in its growing popularity. Regular meat consumption is associated with increased risk of other conditions such as pneumonia, diverticular disease, diabetes and several cancers. And during the pandemic, researchers from Harvard Medical School found that a healthy plant-based diet was associated with decreased risk of severe CV-19,” reports The Washington Post. That’s substantial news for companies such as Komo Plant Based Foods (CSE:YUM)(OTCQB: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)(OTC:GDDFF).
Plus, analysts say the plant based 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 bandwagon, selling plant-based products, too.
Look at Komo Plant Based Foods (CSE:YUM)(OTC:KOMOF)
Komo Plant Based Foods Inc., a premium plant-based food company, is pleased to announce that its full range plant-based comfort foods (7 SKUs) will be carried in all 16 Nester Market locations in British Columbia and Alberta beginning this month. In connection with the launch, Nesters Market is featuring Komo as “Pick of the Month” in a promotional email, social media and in-store marketing campaign.
"Nesters Market is proud and excited to feature Komo Comfort Foods in all 16 of our locations across British Columbia and Alberta. As a Western Canadian-owned company, we wholeheartedly support locally-owned Canadian businesses whenever possible, and look forward to growing into a successful partnership with Komo Comfort Foods,” says Erin Jane, Grocery Merchandising Coordinator at Nesters Market. “We stand behind Komo’s delicious and healthy plant-based comfort foods, and we know it will soon become a Nesters customer (and staff!) favourite. Look for free Komo product samples in the Nesters Marketplace booth at the Vancouver Wellness Show, taking place in February 2022."
“We’re on our mission to bring plant-based favourites to more people, places and plates.” says Komo operating subsidiary Komo Comfort Foods CEO Jeffrey Ma. We launched Komo with our local delivery service and consumers in BC and Alberta will now have more places to find our wholesome frozen meals. This announcement is especially exciting as Nesters Market will be our first retail partner to carry products outside of BC.”
Last month, Komo announced it commercialized its products with a co-manufacturer and partnered with frozen food distributors to build out its retail network. Komo anticipates being on the shelves of more stores across Canada by the end of the year and in the U.S. by 2022.
Other related developments from around the markets include:
Else Nutrition Holdings Inc., the Plant-Based baby, toddler and children nutrition company announced strong performance results on the Amazon platform. According to recent Amazon data, Else Nutrition sales have grown by an average of approximately 10% month-over-month over the last 6 months; outpacing growth by brands in the same category to Else, each month. Further indicators of the Company’s performance on the world’s largest E-commerce marketplace: 62% repurchase rate, compared to 40-45% repurchase rate for brands in same category. 16% of purchasers have procured the product at least 10 times or more. Subscriptions on the platform have grown rapidly and continue to grow.
Oatly Inc., the world’s original and largest oat drink company, announced plans to open a new research and innovation center at Lund University in Sweden to further explore the potential of oats. The new innovation center will further Oatly’s leadership around oats and enable the Company to accelerate its mission to drive a societal shift towards a plant-based food system for the benefit of people and the planet. The Company expects to add approximately 30 new scientists to its global team based in Lund over the next year, with the potential to add nearly 100 researchers across its research hubs in Europe, the Americas and Asia.
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.”
Goodfood Market Corp., a leading online grocery company in Canada, leads sustainability efforts in Canada’s grocery industry by 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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