It’s getting tough to ignore the plant-based food boom. For one, the global plant-based alternatives market could swell to $162 billion in the next decade from $29.4 billion in 2020, says Bloomberg. Two, millions of Americans are switching to plant-based diets. In fact, according to The Washington Post, one in four Americans are still reporting they’re eating more protein from plant sources than in the spring of 2020 thanks to health benefits. Three, major food companies, like Nestle say plant-based foods presents a large commercial opportunity. “We think less meat and dairy is good for the planet, but it’s also good for diet and health, and it is also a big commercial opportunity,” said Nestle CEO Mark Scheider, as quoted by Plant Based News. With plant-based growth showing no signs of cooling off, some of the top companies to keep an eye on are Feel Foods Ltd. (CSE:FEEL)(OTC:FLLLF), Very Good Food Company Inc. (NASDAQ:VGFC)(TSXV:VERY), Beyond Meat Inc. (NASDAQ:BYND), Nabati Foods Global (CSE:MEAL)(OTC:MEALF), and Nepra Foods Inc. (CSE:NPRA)(OTC:NPRFF).
Look at Feel Foods Ltd. (CSE:FEEL)(OTC:FLLLF) For Example
Feel Foods Ltd. just announced that it entered into a Letter of Intent with Plantastic Food Inc., a British Columbia based vegan food company, and the shareholders of Plantastic to acquire all of the issued and outstanding common shares of Plantastic. Founded in 2019, Plantastic and its unique plant-based products are currently offered in twenty-two (22) “bricks and mortar” locations throughout British Columbia as well as multiple online marketplaces and direct to consumer from Plantastics’ e-commerce website at: www.plantasticfood.ca
Plantastic offers a variety of delicious plant-based cheesecakes including Cappuccino, Chocolate, Lemon, Pumpkin Spice, and Strawberry flavors as well as its Three-Bean Chipotle and Kale-O-Mania plant-based burgers.
Feel Foods Director and CEO David Greenway states: “We are thrilled to be working towards bringing Plantastic into our rapidly growing plant-based family of companies at Feel Foods. Plantastic’s unique and delicious line of plant-based cheesecakes are my personal favorite desert, and the plant-based burgers complement our existing lines of Black Sheep Vegan Cheeze. Feel Foods intends to work closely with Plantastic to grow sales, increase market exposure, and expand distribution throughout Canada and the US while continuing to create new and exciting plant-based offerings.”
Plantastic Food founder Sanit Jain states: “We have found a perfect fit in the Feel Foods family that aligns with Plantastics’ values and vision and will allow our current offerings and new in-development products to reach many more health-conscious consumers. Plantastic offers great tasting non-dairy cheesecakes so that desert lovers can have their cake and eat it too, while being part of a movement towards a plant-based world, that benefits health, the environment and the animals.”
Vegan entrepreneur Mr. Sanit Jain who started to company due to his personal plant-based success and recovery story. After losing his father to a heart attack stemming from high cholesterol, and finding that he too had very high cholesterol, Saint ventured to find alternatives to pharmaceuticals to manage his cholesterol and be healthier.
Plantastic is based on the idea that if we can help more people have access to healthy choices without compromising on taste and texture, we would have made a positive impact on the community. Every decision we make at Plantastic, every product we launch, community health and wellness are top of mind. We neither compromise on the quality of ingredients nor method of preparation, rest assured that Plantastic products are prepared with the best quality and noble intentions.
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.
Other related developments from around the markets include:
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.
Beyond Meat Inc., a leader in plant-based protein, is shaking up the breakfast game in Canada by launching plant-based Beyond Breakfast Sausage Links in grocery stores nationwide, marking Beyond Meat’s entry into the Canadian retail breakfast category. Consumers can find the savory plant-based sausage links at all major retailers across Canada, making it easier than ever to enjoy Beyond Meat’s delicious, nutritious and sustainable plant-based proteins.
Nabati Foods Global, a plant-based food technology company offering whole, natural, plant-based foods for health-conscious consumers, is partnering with IMCD Japan, a leading specialty chemicals and food ingredients distributor, to distribute Nabati Foods’ complete product line throughout Japan. The partnership will focus on distribution via foodservice, industrial, and grocery channels. Nabati Foods is sold under the brand name ITABAN in Japan. The deal will include distribution of Nabati Plant Eggz. Nabati Cheeze: both cheddar style and mozzarella style, Nabati plant-based meats: Nabati Chick’n burger, Nabati F’sh burger, Nabati Plant-Based Burger, and Nabati Plant-Based Groundz, Nabati dairy-free cheesecakes: blueberry, peanut butter, chocolate, and tiramisu.
Nepra Foods Inc., creator of nutritious plant-based and allergen-free food, introduces their proprietary THP™ (textured hemp protein), a healthier, more environmentally-friendly plant protein that could disrupt the nearly billion-dollar textured vegetable protein (TVP) market. THP™ is a key ingredient in Nepra’s commercial and direct-to-consumer meat alternatives and will be used extensively in future product development. Most textured vegetable proteins (TVPs) are derived from peas, soybeans, wheat, and other plant sources. Many of these can trigger food allergies, or have an “off” flavor and texture. Hemp, the base for THP™, is one of the cleanest, healthiest seeds on the market, making it a superior plant protein. The introduction of THP™ will revolutionize the plant-based sector and set a new precedent for future plant proteins.
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