The plant-based food market show no signs of slowing. In fact, with millions switching to plant based alternative diets, 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. Even vegan cheese is getting caught up in the boom. According to Research and Markets, the global vegan cheese market could be worth $4.578 billion by 2025 from $2.743 billion in 2018. All of which is beneficial for companies like Feel Foods Ltd. (CSE:FEEL)(OTC:FLLLF), Beyond Meat (NASDAQ:BYND), Sol Cuisine Ltd. (TSXV:VEG), Komo Plant Based Foods Inc. (CSE:YUM)(OTCQB:KOMOF), and The Very Good Food Company (TSXV:VERY)(NASDAQ:VGFC).
In addition, according to Research and Markets, “Growing awareness about the negative impact of high meat consumption on the environment is one of the major factors behind the rising popularity of plant-based products, including vegan cheese. Greenhouse gas emissions due to grazing are pressurizing the whole world to increase focus on plant-based products which in turn is driving the growth of the vegan cheese market. Rapid shift towards vegan diet adoption is also boosting the demand for cheese along with other plant-based protein products in various parts of the world.”
Look at Feel Foods Ltd. (CSE:FEEL)(OTC:FLLLF) For Example
Feel Foods Ltd. just extended the shelf life of its 100% owned Black Sheep Vegan Cheeze products using state-of-the-art High-Pressure Pasteurization technology to naturally increase shelf life without the addition of any chemicals or preservatives. The longer shelf life provides key logistical advantages as the Company looks to scale production, continues its expansion across Canada, and looks to enter the US market.
The High-Pressure Pasteurization process helps natural and organic foods and beverages safely extend shelf life without chemicals or heat treatment. HPP is the new way to 'treat' fresh products to drastically extend the shelf life with no notification to Health Canada needed nor any label changes. It involves no chemicals or preservatives, or heat, only very high pressures. HPP is an environmentally friendly process and is a real alternative to thermal and chemical treatments. HPP greatly assists producers, farmers, suppliers, and distributors to extend products' shelf life. HPP works well with pre-packaged products with high water activity and low air.
Feel Foods Director and CEO David Greenway states: “Using HPP technology to significantly extend our Black Sheep products shelf life is a real game changer, not only for product freshness and longevity, but also for the logistical benefits as Feel Foods continues to expand throughout Canada and looks to expand into the USA. We will continue to grow our distribution online as well as in stores, now available in over 70 grocery stores and food services locations throughout British Columbia. We are currently working on launching exciting new plant-based products ahead of the holiday season this year.”
Feel Foods’ 100% owned Black Sheep Vegan Cheeze products are now available for purchase on multiple online marketplaces. We encourage Feel Foods Investors, Stakeholders and Customers to begin following Black Sheep at Instagram.com/blacksheepvegancheeze and at any participating online marketplaces to try Black Sheep unique products.
The plant-based food market is expected to grow at a CAGR of 11.9% from 2020 to 2027 to reach $74.2 billion by 2027. The growth of this market is mainly attributed to the factors such as increasing incidence of intolerance for animal protein, growing urbanization with new consumer aspirations, increasing vegan population, and significant venture investments in this sector.
Benefits of HPP include:
Longer Shelf Life
Since HPP can double or triple shelf life, increasing yields and customer satisfaction. Longer shelf life implies less waste. It can boost sales as the cost of spoiled food get reduced, larger production batches can be made and the distribution areas can get increased. Convenience and savings are also associated with a longer shelf life.
Maintains freshness
HPP does not include chemicals or heat and maintains the natural freshness and flavours whilst extending the shelf life of your products. Unlike thermal, chemical and other high-heat treatments - processing with pressure maintains the quality and dignity of your product.
Protects brand equity
When customers associate your brand-name with quality your sales will increase. Having the advantage of tastier natural long-lasting products will encourage customers to search and pick your brand name.
100% Nutritional value
Heat treatment destroys nutrients and vitamins. HPP is a non-thermal process that preserves vitamins, flavouring and colour pigments.
Zero preservatives
HPP destroys pathogens (Listeria, Salmonella, Vibrio, Norovirus, etc.) and eliminates the need for preservatives.
Enhance food safety
Products are treated in their final sealed packaging thus eliminating contamination after processing. Brand protection. Decrease the risk of product recalls. FDA and Health Canada approved.
High Pressure Processing (HPP) is a cold pasteurization technique by which food products are exposed to extremely high pressure (300-600MPa / 43,500-87,000psi) transmitted by water. The pressure is uniformly transmitted regardless of the size and the geometry of the food products. The high pressure inactivates bacteria, viruses, yeasts, moulds, and parasites present in food. Flavour compounds and vitamins are not affected by HPP and the food retains its natural taste and texture.
Other related developments from around the markets include:
Beyond Meat President and CEO Ethan Brown commented, "Our third quarter results reflect variability as we saw a decline from record net revenues just a quarter ago. Despite current disruptions, we remain focused on rapidly advancing key building blocks of long-term growth. Whether scaling products and infrastructure for our strategic quick serve restaurant partners, bringing new product to retail markets, or investing in innovation, commercialization, and production capabilities here in the U.S., EU, and China, we believe we are steadily executing against our vision of being tomorrow’s global protein company."
Sol Cuisine Ltd. announced that it has entered into a definitive agreement with PlantPlus Foods LLC and its wholly-owned subsidiary, PlantPlus Foods Canada Inc. PlantPlus Foods, a joint-venture controlled by Marfrig Global Foods S.A., is a provider of leading-edge plant-based protein products across the Americas. Pursuant to the Arrangement Agreement, the Purchaser will acquire all of the outstanding common shares of Sol Cuisine for $2.06 per share in cash, all of the outstanding common share purchase warrants and compensation options of Sol Cuisine for $0.18 per Warrant or Compensation Option, as the case may be, in cash, and all of the outstanding stock options of Sol Cuisine for a cash payment equal to the amount (if any) by which the Share Consideration exceeds the exercise price of such Options. The Transaction is to be completed by way of a plan of arrangement under the Business Corporations Act (Ontario).
Komo Plant Based Foods Inc., a premium plant-based food company, announced record plant-based food sales in October 2021 of more than $45,000, a 67 percent increase over the previous month. Komo launched its plant-based comfort food products locally earlier this year, and in October it was successful in significantly expanding production to meet demand from distributors and retailers One of the recently signed distributors is TransCold Distribution Ltd., a Unilever Master Distributor, which delivers frozen products to over 10,000 distribution points in Canada and the United States.
The Very Good Food Company released a corporate video update featuring CEO and co-founder Mitchell Scott highlighting recent Company developments and offering insight into expected growth through the coming year including shots of the production facilities. Of particular note were announcements of increased wholesale distribution across the U.S. and Canada, as well as an update on production capability following growth in consumer demand for innovative plant-based goods. With target production capability to increase to an average of 40,000 pounds per day in Q4 2021, VERY GOOD is aiming to build the capacity to produce 60,000 pounds of delicious plant-based, bean-packed product per day in Q1 2022 as its products continue to gain traction with consumers.
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 Feel Foods Ltd. by Feel Foods Ltd. We own ZERO shares of Feel Foods Ltd. Please click here for full disclaimer.
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