Plant based product demand is only getting stronger. In fact, right now, there are about 80 million vegans around the world. In the U.S., the number of vegans soared 600% over the last seven years, according to Deals on Health. Even more impressive, by 2026, the vegan market could be worth up to $24.3 billion. That could be substantial news for companies such as Komo Plant Based Foods (CSE:YUM)(OTCQB:KOMOF), Odd Burger Corp. (TSXV:ODD)(OTC:ODDAF), Goodfood Market Corp. (TSX:FOOD)(OTC:GDDFF), Nepra Foods Inc. (CSE:NPRA)(OTC:NPRFF), and Organic Garage Ltd. (TSXV:OG)(OTCQX:OGGFF).
“Food-related consumer habits often come and go as fads, but plant-based alternatives are here to stay — and grow,” said Jennifer Bartashus, senior consumer staples analyst at Bloomberg Intelligence, as quoted by Supermarket News. “The expanding set of product options in the plant-based industry is contributing to plant alternatives becoming a long-term option for consumers around the world. If sales and penetration for meat and dairy alternatives continue to grow, our scenario analysis suggests that the plant-based food industry has the potential to become ingrained as a viable option in supermarkets and restaurants alike.”
Look at Komo Plant Based Foods (CSE:YUM)(OTCQB:KOMOF), For Example
Komo Plant Based Foods Inc., a premium plant-based food company, is pleased to announce all 7 Whole Foods Market retail locations in Western Canada will begin carrying Komo Plant Based Comfort Foods. Komo products are planogrammed to be on the shelves in all 7 stores in early 2022. Whole Foods has expanded to 6 stores within key neighborhoods in the greater Vancouver area and most recently opened a flagship store in the capital city of Victoria on southern Vancouver Island.
Whole Foods Market, Inc. is an American multinational supermarket chain headquartered in Austin, Texas, which sells organic foods and products free from hydrogenated fats and artificial colors, flavors, and preservatives. Whole Foods seeks out the finest natural and organic foods available, maintains the strictest quality standards in the industry, and has an unshakeable commitment to sustainable agriculture. Whole Foods has more than 500 retail and non-retail locations in the US, Canada and the United Kingdom. It has 14 retail locations in Canada, of which 7 are in British Columbia, and 7 are in Ontario. In 2017, Amazon purchased Whole Foods Market for USD$13.7 Billion.
“Adding Whole Foods to our distribution network is a huge accomplishment for Komo and testament to the high quality of our products,” says Komo CEO William White. “We are so pleased with the growth in the number of retail stores that are selling Komo products. We have to thank our sales broker, Cornerstone Sales, our distributors, and our dedicated team for this rapid growth. We are very excited about continuing to share the love of plant-based foods through our aggressive growth plans.”
Komo has a distribution network of 5 distributors covering all provinces in Canada, including BRR Logistics, TransCold Distribution and Nationwide Natural Foods. Komo significantly scaled up its production capacity through a co-manufacturing arrangement last quarter, setting up Komo for rapid expansion. Komo is now available in select IGA, Fresh Market and Safeway locations, as well as all Choices Markets, all Nesters Market locations, all Fairway Markets and all Nature’s Fare locations. Komo is now focused on expansion to the United States.
Other related developments from around the markets include:
Odd Burger Corp., one of the world's first vegan fast-food chains and the first to go public, announced it has signed a franchise agreement for Victoria, its first British Columbia location, continuing its expansion plans throughout Canada and the west. Franchisees John Bowker and Luke Ceraldi are currently seeking a site to introduce Victoria to Odd Burger's affordable, mainstream, healthy, and satisfying vegan fast food. "Victoria is the ideal spot to begin our West Coast takeover, and our partners Luke and John are ready to bring our brand to their city," said James McInnes, Odd Burger co-founder and CEO. "The community will love our indulgent, iconic fast food without the guilt, made from wholesome ingredients like chickpeas, jackfruit, and fresh veggies."
Goodfood Market Corp., a leading online grocery company in Canada, will release its financial results for the first quarter of Fiscal 2022 on Tuesday, January 18, 2022, before markets open. Jonathan Ferrari, CEO, Neil Cuggy, President and COO, and Jonathan Roiter, CFO, will hold a conference call to review the results at 8:00 a.m. (ET) on the same day. In addition, Goodfood’s Annual General Meeting of Shareholders will also be held on Tuesday, January 18, 2022 at 10:00 a.m. (ET). The meeting will be held virtually through the platform Lumi.
Nepra Foods Inc., creator of nutritious plant-based and allergen-free food, is pleased to share a letter to shareholders from CEO David Wood. “This past year has been an exceptional and transformational year for Nepra Foods. We continued to build on our track record of revenue growth for the 5th year in a row, with a 150% year-on-year growth, which was facilitated by an expansion of our production and office space in January. We also completed an oversubscribed initial public offering (IPO) in September, which allows us to further expand our business and develop exciting new product verticals.”
Organic Garage Ltd., one of Canada’s leading independent organic grocers, is pleased to announce that its plant-based food company, Future of Cheese Inc. is preparing to launch its own ecommerce store within the first quarter of this year, where its complete line of dairy alternative products will be offered for sale across Canada. The Company’s recent plant-based product launches in physical retail locations were met with tremendous demand and positive reviews from consumers, critics, chefs and the media; Future of Cheese’s Ripened Brie was named the “World’s most realistic vegan brie” by US- based VegNews.
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