The plant-based food revolution is here to stay. In fact, according to consumer goods company Unilever (NYSE:UL), it’s become an “inexorable” trend, as reported by Totally Vegan Buzz, adding, “every single country in the world is shifting towards more plant-based diets.’’
“The first thing we’re concerned to do is make sure that our big brands like Knorr and Hellmans have got attractive plant-based offerings. So, that’s really the main course – making sure veggie and vegan consumers have got options in the Knorr and Hellman’s range,” says company CEO Alan Jope, as quoted by Plant Based News. “Those have been growing very quickly for us. Can you even believe that we have plant-based Ben and Jerry’s ice cream and a vegan magnum?”
Even Starbucks (NASDAQ:SBUX) is testing a 100% plant-based menu in Seattle. So are companies, like Tyson Foods Inc. (NYSE:TSN) and McDonald’s (NYSE:MCD).
In addition, nearly 23% of American consumers have consumed plant-based meats, according to a new report from Packaged Fact, as highlighted by Veg News. In addition, according to another survey released by OnePoll, “nearly half of Americans (47 percent) began eating more plant-based foods during the pandemic with 43 percent eating less meat, 25 percent either reducing or cutting out dairy from their diets, and 23 percent reducing or eliminating eggs.”
It’s a Positive Catalyst for Plant & Co. Brands Ltd. (CSE:VEGN)(FSE:VGP)(OTCPK: VGANF)
The company just provided an update on the recent acquisition of various Canadian corporations doing business as YamChopsTM ~ Grown Not Raised.
YamChops, which specializes in the preparation, distribution, and retail sales of over 20 plus proprietary plant-based meats, chicken, pork, fish, and various other vegan food products, experienced 689% increase in online sales in the second half of 2020 versus the same period in 2019. The increase of sales from the YamChops website is attributable to local marketing efforts, the increasing popularity of plant-based foods, as well as the impact of the COVID-19 pandemic.
“While YamChops had a great year in 2020 across its wide selection of plant-based foods, we wanted to highlight the online sales from our website as research shows that both plant-based food and online shopping are two of the fastest growing segments in the food industry,” said Shawn Moniz, CEO of Plant&Co. “YamChops is known for its high-quality foods that taste great, and its customer service that is second to none. Products such as Crabless “Crab” Cakes, Montreal Style “Steak” and Chick*n Schnitzel are leading the online sales revolution. We will leverage the success YamChops achieved in 2020 in both business-to-business (B2B) and business-to-consumer (B2C) revenue channels and build on the recent growth in popularity of these healthy meat and dairy product alternatives to expand our newly acquired business.”
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.
Plant&Co’s strategy is to leverage their existing distribution networks and B2B relationships for large and bulk ordering of plant-based product already in place with nation-wide distributors and retailers, such as Grande Cheese, United Natural Foods Inc (UNFI), Whole Foods, London Drugs, Save On Foods, Organic Garage, Nature’s Emporium, Choices Markets, The Big Carrot, Natural Foods Ambrosia, and Natures Fare Markets, to rapidly grow and expand the 20 plus proprietary plant-based products of YamChops to new and emerging markets not only in Canada but to the explosive US markets. YamChops currently has B2B distribution to Sobey’s London, Pusateri’s, and Nature’s Emporium.
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 Euromonitor International, plant-based meats sales could reach over US $2.5 billion by 2023.
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