The plant-based food market is booming. So much so, analysts at Credit Suisse say the market could grow 100-fold by 2050. In fact, they believe that a plant-based shift in global food systems in “inevitable,” as noted by The Beet, and that the market could reach $1.4 trillion by 2050. That could be a powerful catalyst for companies such as Komo Plant Based Foods (CSE:YUM)(OTCQB:KOMOF), Rritual Superfoods Inc. (CSE:RSF)(OTC:RRSFF), Very Good Food Company Inc. (NASDAQ:VGFC)(TSXV:VERY), Oatly Group (NASDAQ:OTLY), and Tattooed Chef Inc. (NASDAQ:TTCF). In addition, “Credit Suisse emphasizes that the growing plant-based market could be profitable to investors worldwide because the plant-based market is growing faster each year, and with exponential growth, investors will need to change their priorities with the quickly shifting market,” added The Beet.
Komo Plant Based Foods (CSE:YUM)(OTCQB:KOMOF) Rapidly Growing with Distribution
Komo Plant Based Foods Inc., a premium plant-based food company, is pleased to announce Nature’s Fare Market will carry the full line of Komo Plant-Based Foods products at all 7 Nature’s Fare locations.
Nature’s Fare is a leading natural and organic grocer with brick and mortar stores in 7 locations, including Kamloops, Kelowna, Langley, Penticton, Vernon, West Kelowna and White Rock.
“Nature’s Fare is proud and excited to have Komo Comfort Foods in all 7 of our locations across British Columbia soon,” says Nature’s Fare Category Manager Jennifer Oravec. “We love supporting locally-owned Canadian businesses whenever possible, and look forward to growing in a successful partnership with Komo Comfort Foods. We know these healthy plant based meals will soon become a Nature's Fare customer favourite.”
“We are so proud to have Komo Plant-Based frozen comfort foods distributed through Nature’s Fare stores,” says Komo CEO William White. “Adding these 7 locations allows us to reach customers who are seeking high quality natural foods in many new communities throughout British Columbia, allowing us to further our mission to share the love of plant-based foods.”
Other related developments from around the markets include:
Rritual Superfoods Inc. announced that the Company’s premium brand of functional superfoods are experiencing strong growth at CVS Stores throughout the USA as indicated by a third consecutive month of re-orders following the brand’s launch earlier this year. “As the focal point of our growth strategy, that being an emphasis on building a national retail presence, Rritual’s CVS rollout continues to prove extremely valuable as a platform to build brand loyalty and customer satisfaction throughout the nation,” noted Mr. David Kerbel, Rritual CEO and Director. “The CVS HealthHUB philosophy aligns completely with Rritual’s health and wellness vision and the continued pattern of re-orders is validation of our strategy and consumer and retail partner satisfaction.”
Very Good Food Company Inc., a leading plant-based food technology company, announced two delicious additions to an already innovative line of bean and vegetable based meats in the form of Butcher’s Select Spicy Meatballs and The Very Good Steak for retail and e-Commerce. After seeing overwhelming demand for the NEXTY Award winning Butcher’s Select Mmm...Meatballs, the Spicy Meatballs are an addition that pack a flavorful punch, and more than a little heat. The original plant-based meatballs, winners of the NEXTY Best New Frozen Product category, have entered the market as a flavorful alternative to not only plant-based, but also traditional meat products in the natural food space.
Oatly Group 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.
Tattooed Chef Inc., a leader in plant based foods, announced it has entered into an agreement to acquire Belmont Confections, Inc., a private label co-manufacturer of nutrition bars, for approximately $18 million in cash and stock. The transaction has been unanimously approved by Tattooed Chef’s Board of Directors and the acquisition is expected to close in the fourth quarter of 2021. Based in Youngstown, Ohio, Belmont specializes in the development and manufacturing of snack and nutritional bars. The 47,000 square foot facility already has the equipment in place to manufacture many different types of bars and now, partnered with the innovation from Tattooed Chef, will allow the company to become a leader in the bar sector.
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