Consumer demand for plant-based products is only increasing. In fact, U.S. retail sales of plant-based foods grew 11.4% in 2019 to $5 billion, according to a SPINS sales data report shared by The Good Food Institute and the Plant Based Foods Association, as noted by Forbes. “Plant-based milk sales grew 5% last year and 14% over the past two years, and they now make up about 40% of the total plant-based food market with about $2 billion in annual sales. Meanwhile, sales of other plant-based dairy alternatives including ice cream, butter, cheese and yogurt soared 53% over the past two years, from a much smaller base.”
Outside of food, we’re seeing increased popularity for plant-based and natural beauty and hygiene products, as well. So much so, Grand View Research says the organic deodorant market could reach $158.5 million in the next five years. “Organic deodorants have been gaining significant popularity due to increasing awareness regarding harmful effects of aluminum salts, especially among the female consumers.” With even more demand for plant-based foods likely, some of the top companies to keep an eye on include The Yield Growth Corp. (CSE:BOSS)(OTC:BOSQF), Beyond Meat Inc. (NASDAQ:BYND), Else Nutrition Holdings Inc. (TSXV:BABY)(OTC:BABYF), The Very Good Food Company Inc. (CSE:VERY), and Burcon Nutrascience Corporation (TSX:BU)(OTC:BUROF).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. announced that it has completed an initial 5,000 product run of a new deodorant SKU for plant-based brand, Antler. “I am proud of our accomplishments in manufacturing plant-based products,” says Yield Growth Chief Executive Officer Penny White. “The timing is right for a high quality men’s plant-based wellness line, and we are pleased to be able to manufacture the highest quality products for Kingdom Brands.”
Kingdom Brands retained Yield Growth to manufacture the deodorants, which is part of a full plant-based men’s wellness collection under the Antler brand. Yield Growth completed production of Antler Deodorant as a white label for Kingdom Brands this month. This long-lasting, all natural, plant-based, aluminum-free deodorant is especially well suited for sensitive skin, is packaged to comply with U.S. and Canadian retail regulations, and can be sold directly to consumers via e-commerce.
According to a report by Future Market Insights, the global aluminum-free deodorant market is estimated at around US$1.2 billion in 2019, and is expected to grow at a CAGR of nearly 10% from 2019 to 2029.
Other plant-based related developments from around the markets include:
Beyond Meat Inc. (NASDAQ:BYND) is making plant-based burgers more accessible and affordable this summer with the introduction of Cookout Classic™, a limited edition burger 10-pack available at a majority of Walmart and Target stores nationwide and select retailers across the U.S. beginning the week of June 22. Sold in the frozen meat aisle with a suggested retail price of $15.99 ($1.60 per patty), the new offering will be available through mid-August, or until supplies last, and is intended to narrow the price gap between plant-based meat and animal protein, making delicious, nutritious and sustainable plant-based meat more accessible to more people. With growing consumer interest in plant-based protein, the Cookout Classic value pack is designed to inspire a shift to plant-based meat at barbecues and summer gatherings. The juicy and delicious burgers are made with simple, plant-based ingredients without GMOs, soy or gluten, and are packaged in a fully recyclable cardboard carton, aligning with Beyond Meat’s commitment to sustainability.
Else Nutrition Holdings Inc. (TSXV:BABY) announced the U.S. launch of trial-sized pouches of Else Plant -based Complete Nutrition for Toddlers. Following successful production, the trial samples of Else’s proprietary product will now be widely available for order via the elsenutrition.com e-store. “We are thrilled to hit this key milestone and to be sharing our product with the world. It is indeed a major inflection point as we continue down the path toward commercialization of our first product. We are excited to get the samples in the hands of eager parents looking for clean label, plant-based nutrition alternatives for their children,” said Ms. Hamutal Yitzhak , CEO & Co-Founder. Else Plant-Based Complete Nutrition for Toddlers trial pouches (1.27 oz) will be available at no charge, with customers covering only the shipping costs. The sampling campaign will be promoted via Else social media channels and will precede the launch of the full-size version of the product, which will be available for pre-orders on our e-store this July.
The Very Good Food Company Inc. (CSE:VERY) announced a significant increase in its distribution network as part of its continued focus on scaling operations. As a result of the new agreements, the Company has expanded its points of distribution by over 30%. Effective July 1st, 2020, a new distribution agreement with Nesters Market and Buy-Low Foods came into effect for The Very Good Butchers brand, representing an additional 25 stores. On July 15th, 2020, a highly anticipated agreement with Sobeys Inc. will become active, which will initially include distribution in 30 Thrifty Foods stores in British Columbia and Alberta. The sum of the two agreements represents 55 new stores, increasing points of distribution from 150 to over 200 locations. “The Thrifty Foods agreement represents a particularly exciting milestone for the Company, as it opens up the potential for significant expansion across the 1500 store network operated by Sobeys. We are thrilled to have the support from one of North America’s largest grocery chains as we look to rapidly scale from coast to coast,” – Mitchell Scott, CEO.
Burcon Nutrascience Corporation (TSX:BU)(OTC:BUROF) reported results for the year ended March 31, 2020. “Fiscal 2020 was truly a transformational year for Burcon,” said Johann F. Tergesen, Burcon’s president and chief executive officer, adding, “Coming out of the year, we have a strong balance sheet, we established the Merit Functional Foods joint venture and we partnered with Nestlé, the largest food and beverage company in the world. Through the Merit Foods joint venture, we are well advanced in building a state-of-the-art production facility to produce our unique pea and canola proteins as well as our new protein blends. The production facility, which is on track to be completed in Q4 2020, will be the only commercial facility in the world with the capability to produce non-GMO food grade canola proteins.”
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