The plant based revolution has gone global, benefiting Plant & Co. Ltd. (CSE:VEGN)(OTC:VGANF)(FSE:VGP), The Very Good Food Company Inc. (CSE:VERY)(OTC:VRYYF), Beyond Meat (NASDAQ:BYND), Burcon Nutrascience Corporation (TSX:BU)(OTC:BUROF), and Guru Organic Energy Corp. (TSX:GURU). Not only are we seeing higher demand for plant based foods in the U.S. but China is seeing bigger demand, too.
In fact, according to The Good Food Institute, as reported by One Green Planet, “China’s plant-based meat market was projected to grow between 20 and 25% annually. The industry was worth $910 million in 2018. China’s perceived connection between wealth and meat is no longer as strong as it once was.” In addition, according to The Guardian, “Some of the biggest international chains operating in China have been quick to bet on the growth of alternative meats. KFC is now selling vegan chicken nuggets, Burger King is offering an Impossible Whopper, and Starbucks is serving Beyond Meat pastas, salads and wraps.”
In North America, sales of plant-based meats, a food category that did not exist a decade ago, grew to almost US $800 million in 2019, up 37% from 2017. Better, according to research firm Meticulous Market Research, the global 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.
Look at Plant & Co. Ltd. (CSE:VEGN)(OTC:VGANF)(FSE:VGP) for example
Plant & Co. Ltd., a modern health and wellness company curating delicious plant-based foods, today announced it has retained the iFranchise Group, a leading franchise consulting firm, to oversee the launch and execution of a North American-wide franchise expansion plan for the popular YamChopsTM ~ Grown Not Raised TMvegan butcher shop. YamChops, a wholly owned subsidiary of Plant&Co, specializes in the preparation, distribution, and retail sales of over 45 proprietary plant-based meats, chicken, pork, fish, and many other delicious vegan food products.
“One of the reasons we chose the iFranchise Group to lead the launch of our YamChops franchise expansion is because it was recently recognized as the best overall in franchise consulting and development by Entrepreneur Magazine,” said Shawn Moniz, CEO of Plant&Co. “We need a group who understands the franchise market in Canada and the U.S. and can assist Plant&Co to create the best pricing and support structure for both the Company and entrepreneurs who purchase a YamChops franchise. iFranchise has worked with some of the most successful franchisors in the world, including Ace Hardware, Bridgestone/Firestone, Chem-Dry, Chevron, Fleming, HoneyBaked Ham, McDonald’s, Tribune Companies, and many others. We look forward to executing an aggressive and successful expansion plan throughout both countries with the assistance of iFranchise.”
iFranchise joins Cassells Brock & Blackwell LLP, a national law firm with one of Canada’s most sophisticated franchise law teams, to assist with Plant&Co’ launch of the YamChops franchise. Plant&Co offers a strong corporate structure with financial and technical resources to support individual franchisees and to promote franchise growth throughout North America.
iFranchise Group’s Toronto, Canada franchise consulting office specializes in developing custom strategies, for new or existing franchisors in Toronto and throughout Canada. The group has an intimate and personal understanding of the franchise market, and works with both local business owners establishing a single franchise and large franchisors those looking to expand into Canada and the U.S. They assist companies to identify and take advantage of their unique strengths, seek out key opportunities, and achieve their specific business expansion objectives. Growing a business through franchising requires an understanding of unique market opportunities and challenges, iFranchise is known to provide individualized solutions geared toward achieving full growth potential.
As announced on March 2, 2021, Plant&Co is executing a strategic plan to aggressively expand its reach across North America by franchising the popular YamChopsTM vegan butcher shop. The YamChops franchise program will target entrepreneurs in major centres and offer turnkey YamChops franchises opportunities. Franchise locations will be small but efficient butcher shops allowing for ease of remodeling, efficient operations, and lower costs. Like Toronto, future YamChops locations will target popular and affluent areas of major centres.
YamChops franchise include:
- Architectural/construction renderings
- Systems manuals and training programs
- Proprietary plant-based food products and recipes
- Strategic retail sales strategy
Interested entrepreneurs can find more information regarding YamChops franchising opportunities by visiting the YamChops website: https://yamchops.com/pages/franchise
Once featured on TV’s famous Dragons Den, named NOW Magazine Reader's Choice Award for "Best Butcher & Best Deli" in Toronto, and recently recognized in a Wall Street Journal article as a leader in the race for a piece of the faux-meat market, YamChops is North America’s first Plant-Based Butcher Shop. For over 12 successful years, it has specialized in the development, preparation, and distribution of plant-based meats and other vegan food products. YamChops has a retail location in the heart of Toronto’s food district, a dynamic website, and it enjoys a high demand on five of the most popular food delivery platforms: Uber Eats, Skip the Dishes, Door Dash, Corner Shop and Ritual One, with more still to come!
Today, plant-based food products have entered the mainstream and are included on shopping lists of many consumers across North America. The sales of plant-based meats in North America, a food category that did not exist a decade ago, grew to almost US $800 million in 2019, up 37 per cent from 2017. According to research firm Meticulous Market Research the global 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.
Other related developments from around the markets include:
The Very Good Food Company Inc. just announced the strategic acquisition of the Lloyd-James Marketing Group Inc., a boutique wholesale and food service broker specializing in the plant-based food industry with a history of placement in large natural, specialty and conventional grocery retailers such as Whole Foods, The Pattison Food Group, Sobeys, Metro, Loblaw and Walmart.
Beyond Meat, a leader in plant-based meat announced its latest expansion of product offerings at Walmart. Starting this week, within the approximately 2,400 Walmart locations nationwide in which Beyond Meat products are currently sold, Walmart will be adding Beyond Sausage Hot Italian® to the fresh meat aisle at more than 400 stores as well as expanding the frozen Cookout Classic value-pack to approximately 500 stores.
Burcon Nutrascience Corporation, a global technology leader in the development of plant-based proteins, reported results for the fiscal third quarter ended December 31, 2020. “We are very pleased with all that we accomplished during our 2021 fiscal third quarter and for the year-to-date. Our fiscal third quarter was marked by continued milestone execution and a further strengthening of Burcon’s financial position,” said Johann F. Tergesen, Burcon’s president and chief executive officer, “Our joint venture company, Merit Functional Foods, successfully completed the construction of Phase 1 of its 94,000 square foot, state-of-the-art production facility dedicated to the production, under license, of Burcon’s novel pea and canola protein ingredients as well as Burcon’s new protein blends. Subsequent to the quarter-end, Merit Functional Foods achieved first commercial production of Burcon’s Peazazz® and Peazac® pea proteins and will now focus on completing first runs of canola proteins. When complete, the production facility will be the only commercial facility in the world with the capability to produce non-GMO food grade canola proteins.”
Guru Organic Energy Corp., Canada’s leading organic energy drink brand, is pleased to announce its results for the first quarter ended January 31, 2021. “We achieved record sales of $6.6 million, representing 24% year-over-year growth as well as gross margins of 62%, a significant achievement in the current context with stricter COVID-19 measures in place throughout the course of the first quarter. Sales growth in the U.S. also resumed with a 25% year-over-year increase in constant dollars in large part driven by online sales,” said Carl Goyette, President and CEO of GURU. “This reflects the strength of our brand as well as sustained demand for better-for-you energy drinks and plant-based products, despite the impact of pandemic-related restrictions in place during the quarter, including a curfew in Quebec.”
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 Plant & Co. Ltd. by Plant & Co. Ltd. We own ZERO shares of Plant & Co. Ltd. Please click here for full disclaimer.
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