The plant-based market is sprouting – and fast. In fact, “Plant-based popularity is shifting the foodservice sector towards more sustainable and healthier ingredients, in light of both the climate crisis and the pandemic. The trend is occurring across the entire market, marking a significant shift in both restaurant sourcing and consumer demand. The report also found that 9.2 percent of restaurants in the US incorporate vegan meat in their menus,” as noted by TheBeet.com. With solid growth ahead, investors should keep an eye on Komo Plant Based Foods (CSE:YUM)(OTCQB:KOMOF), Else Nutrition Holdings Inc. (TSXV:BABY)(OTCQX:BABYF), Oatly Inc. (NASDAQ:OTLY), good natured Products Inc. (TSXV:GDNP)(OTC:SLGBF), and Tattooed Chef Inc. (NASDAQ:TTCF).
Komo Plant Based Foods Earns US Market Recognition as NEXTY Awards Finalist
Komo Plant Based Foods Inc. announces that its Plant-Based Lasagna has been named a finalist in the 2022 NEXTY Awards by Natural Products Expo West, in the category of Best New Frozen Product.
The NEXTY Awards recognize the most progressive, innovative, inspiring and trustworthy products in the natural products industry in the United States. Finalists are chosen based on innovation, inspiration, integrity, and impact. A team of editors and trend researchers go through hundreds of nominees to select three finalists in each category. Other nominees in the frozen category include leading products from The Plant Based Seafood Co., Tattooed Chef, Alec's Ice Cream, Deep Indian Kitchen, and Tru Fru.
“This recognition comes at an exciting time for Komo as we build out our U.S. retail network,” said William White, CEO of Komo. “There is growing demand for plant-based food from the U.S. and we are developing the right partnerships and strategies to satisfy this significant demand.”
Winners will be announced in early March, prior to the Natural Products Expo West, which will take place at the Anaheim Convention Center from March 8-12, 2022. Komo will be attending the convention as part of its plan to expand U.S. distribution. Komo is already available for direct-to-consumer purchase across the U.S. through the eCommerce platform GTFO It’s Vegan, and it’s now focusing on building out U.S. retail distribution points.
Komo's Plant-Based Lasagna is hearty and wholesome, made with a rich tomato lentil ragu and creamy tofu ricotta, smothered between layers of semolina pasta, and topped with a “cheezy” chickpea bechamel sauce. Preservative-free and sold frozen for freshness, it is available in two sizes: a two-serving package (600g) and a full-sized package with 5-6 servings (1.42kg).
“We are on a mission to change the way people eat, one family meal at a time, and make plant-based food a staple in everyone's diet,” added White. “Our hearty comfort foods are delicious and satisfying, and packaged in Earth-friendly, recyclable aluminum with a recycled paperboard sleeve. The lasagna is good for both you and the planet. We are very proud of our team and honored to receive this recognition from NEXTY.”
Other related developments from around the markets include:
Else Nutrition Holdings Inc., the Plant-Based baby, toddler and children nutrition company announced that it has concluded a successful preclinical study on its Plant-Based infant formula, on the pathway to bring its formulation to market. This marks a key first step on the path with the Food and Drug Administration (FDA), as well as with other regulatory authorities, to demonstrate safety and nutrient bioavailability of the Else infant formula. The study results demonstrated proper growth similar to a dairy-based infant formula, in a neonatal preclinical model. “This is a massive step forward for the Company,” said Hamutal Yitzhak, CEO & Co-Founder of Else Nutrition. “Since inception, our vision has been to fill this major gap in the market, and to bring a clean label whole-food, plant-based, soy-free infant formula to millions of families worldwide. These results mark further validation of our formulation, as we continue to push ahead in seeking FDA approval.”
Oatly Inc., the world’s original and largest oat drink company, will report financial results for the fourth quarter and year ended December 31, 2021, on Wednesday, March 9, 2022, before the U.S. market opens. Oatly will host a conference call and webcast at 8:30 a.m. ET on the same day to discuss the results. The conference call and simultaneous, live webcast can be accessed on Oatly’s Investors website at https://investors.oatly.com under “Events.” The webcast will be archived for 30 days.
good natured Products Inc., a North American leader in plant-based products and packaging, released its annual letter to shareholders from Paul Antoniadis, the Company's CEO. “We're kicking off 2022 with the same courage and conviction to aggressively grow our topline revenue, both organically and through acquisition, with targeted gross margins in the 21% to 28% range and annual improvements in EBITDA. We anticipate continued global supply chain disruptions, external inflation, and fluctuation in our market valuation in 2022 (both up and down). Our keen focus on execution, providing great service, and managing operational excellence is our "superpower" and path to success. I've been so impressed with our team's demonstrated ability to stay focused on our strategic objectives, adapt quickly and continue to achieve our operational targets.”
Tattooed Chef Inc., a leader in plant based foods, announced that on December 21, 2021 it completed the acquisition of Belmont Confections, Inc., a private label co-manufacturer of snack bars, for approximately $18 million in cash and stock, subject to a customary adjustment based on working capital at closing. Belmont specializes in the development and manufacturing of a variety of snack bars. The 47,000 square foot facility in Youngstown, Ohio expands Tattooed Chef’s manufacturing capabilities into a new category and accelerates the Company’s expansion into ambient and refrigerated products. The Company plans to launch new Tattooed Chef branded plant based bars in 2022.
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