With demand for plant-based foods is on the rise, companies like Plant & Co. Ltd. (CSE: VEGN)(OTC: EURPF), Very Good Food Company Inc. (CSE:VERY)(OTC:VRYYF), Modern Meat Inc. (CSE:MEAT)(OTC:SUVRF), Guru Organic Energy Corp. (TSX:GURU), and Tattooed Chef Inc. (NASDAQ:TTCF) are just beginning to sprout.
At the moment, consumer demand for plant based products is at an all-time highs, notes a report on Food Dive. It’s why food companies, like Tyson, Purdue, McDonald’s, and Unilever have all jumped on the vegan bandwagon. Even better, “the global plant-based meat category forecasts 28% compound annual growth, building on what was a $5 billion industry in 2018 to $85 billion by 2030. It appears there may be plenty of opportunity to go around.”
Related plant based companies are growing – and fast
Very Good Food Company, for example, just announced a new retail distribution with Quality Foods owned by the Jim Pattison Group; and additional distribution points with Sobeys Inc. through its Safeway retail network. These partnerships are a result of VERY’s efforts to scale distribution in line with production capacity.
Modern Meat Inc. just announced that its wholly owned subsidiary, kitskitchen Health Foods Inc. will soon be launching a selection of dairy-free artisan cheeses. Currently, four plant-based cheeses are being developed under the moniker kitsCheeze.
Tattooed Chef Inc. just announced preliminary revenue of approximately $39.5 million for the fourth quarter of 2020 and $149 million for fiscal year 2020, representing 47% growth and 76% growth compared to the respective prior year periods. In addition, revenue of Tattooed Chef branded product was approximately $24 million for the fourth quarter of 2020 representing the highest quarterly branded revenue in Company history and reflects an increase of 253% compared to $9.5 million in the prior year period.
Or, look at Plant & Co. Ltd. (CSE: VEGN)(OTC: EURPF)
Plant & Co. Ltd., a modern health and wellness company curating delicious plant-based foods, is pleased to announce it is finalizing plans to open a second Canadian location of the popular YamChopsTM ~ Grown Not Raised TM ~ vegan butcher store in Montreal, Quebec. YamChops, a wholly owned subsidiary of Plant&Co, specializing in the preparation, distribution, and retail sales of over 48 plus proprietary plant-based meats, chicken, pork, fish, and various other delicious vegan food products.
“The new location in Montreal is the first of many as we begin an aggressive expansion into Quebec, the rest of Canada and throughout North America,” said Shawn Moniz, CEO of Plant&Co. “Our compact YamChop retail location design affords us the ability to expand into great locations at a fraction of the cost of other food outlets, fully supported by our robust e-commerce, which provides an easy and intuitive method of ordering online. We are executing a simple, but effective business model to grow our reach into the plant-based food markets of North America. Not only are we expanding our physical locations, but we are also working to expand our line of high-quality plant-based products to go with our best sellers Montreal Style ‘Steak’, Szechuan ‘Beef’, and Chick*n Schnitzel.”
Taking a page out of the Starbucks playbook, Plant&Co is taking a systematic approach to the rollout of YamChops locations. The locations will be small but efficient butcher shops allowing for ease of remodelling, efficient operations, lower costs, and importantly rapid expansion. The design will be like YamChops first location in Toronto – fun, chic, and full of delicious plant-based foods. Like Toronto, future YamChops locations will target popular and affluent areas of major centres.
With more than 5,000 restaurants in the metro island area, Montreal is known for its great food and offers locals and visitors alike a vibrant culinary scene that is innovative and wildly creative. With the many chic bistros and casual eateries throughout Montreal, it is a prime location for a YamChops Vegan Butcher and will add to the city's plant-based food experiences. The city is a melting pot of culture and its gastronomy represents this diversity, supporting an incredible variety of plant-based, 100% vegetarian and vegan food locations with something for all tastes and occasions.
YamChops is North America’s first Plant-Based Butcher Shop. It has been featured on TV’s famous Dragons Den, in NOW Magazine, and recently in the Wall Street Journal. For over 7 successful years, it has specialized in the development, preparation, and distribution of plant-based meats and other vegan food products. And now Plant&Co and YamChops are bringing new retail locations across Canada with dynamic websites, and inclusion on five of the most popular food delivery platforms: Uber Eats, Skip the Dishes, Door Dash, Corner Shop and Ritual One.
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 a third party. We own ZERO shares of Plant & Co. Ltd. Please click here for full disclaimer.
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