With millions switching to plant-based foods, sales could increase 100-fold to $1.4 trillion by 2050, says Credit Suisse. “While there are approximately 600 small and private companies currently operating in the plant-based food space, Credit Suisse expects traditional players—such as Danone, Nestlé, Brazilian meat companies, and others—to continue to transition their portfolios to include more plant-based products, presenting investment opportunities in everything from small plant-based food companies to large multinational conglomerates to ingredient suppliers developing specific components for plant-based foods, and more,” noted the firm, as highlighted by Veg News. That could be substantial for companies such as Komo Plant Based Foods (CSE:YUM)(OTC:KOMOF)(FSE:9HB), Beyond Meat Inc. (NASDAQ:BYND), Very Good Food Company Inc. (TSXV:VERY)(OTC:VRYYF), Tattooed Chef Inc. (NASDAQ:TTCF), and Shopify Inc. (NYSE:SHOP).
In addition, “David MacLennan, CEO of Cargill predicts that plant-based protein will significantly cut into the sales of meat, noting that he and his company are aware of the changing consumer preferences,” reports The Beet. “Suddenly what once looked like a niche market, owned by Impossible Foods and Beyond Meat, is taking a giant step into the mainstream.”
Komo Plant Based Foods Adds Bundles and Subscriptions to Shopify-enabled Platform
Komo Plant Based Foods Inc. just announced the launch of its direct-to-consumer recurring subscriptions service on its Shopify-enabled platform, in addition to six new product bundles and a new two-serving size of its Plant-Based Shepherd’s Pie.
On its Shopify platform, Komo added a Pasta Lovers Bundle, the Ready-to-Bake Classics Bundle, the Komo Family Bundle, as well as Shepherd’s Pie (Two-serve) x 6-pack bundle and 3-pack bundle. The Komo eCommerce platform now offers 11 bundles featuring different combinations of 7 SKUs. In addition, Komo consumers can now order any combination of bundles and products for recurring deliveries every two, four, six, or eight weeks.
“Consumers are becoming more aware of the positive impact to their health and environment by switching one or more meals a week to plant-based food,” says Komo Plant-Based Comfort Foods CEO Jeffrey Ma. “With our subscription model, families can make a regular commitment to Komo meals that are wholesome and sustainable. By delivering directly to consumers’ doors, we aim to continuously make plant-based eating easy, yet deliciously satisfying.”
According to The Guardian, “In 2018, scientists behind the most comprehensive analysis to date of the damage of farming to the planet found avoiding meat and dairy products was the single biggest way to reduce your environmental impact on the planet. The research showed that without meat and dairy consumption, global farmland use could be reduced by more than 75% – an area equivalent to the US, China, European Union and Australia combined – and still feed the world.”
Komo is pleased to announce that it has retained the services of Renmark Financial Communications Inc. to communicate with institutions and brokerage firms to expand Komo’s investor audience, for a fee of $7,000 per month for 6 months beginning July 1, 2021. Renmark does not have any interest, directly or indirectly, in Komo or in its securities, or any right or intent to acquire such an interest.
Other related developments from around the markets include:
Beyond Meat Inc., a leader in plant-based meat, announced the appointments of Phil Hardin as Chief Financial Officer, Deanna Jurgens as Chief Growth Officer and Margaret “Jackie” Trask as Chief People Officer. These seasoned veterans bring extensive experience to the Beyond Meat executive leadership team to support the company’s continued growth and innovation-focused culture. “We are excited to welcome Phil, Deanna and Jackie to the Beyond Meat executive leadership team,” said Ethan Brown, President and Chief Executive Officer, Beyond Meat. “In each case, we conducted extensive searches to identify best-in-class talent and I could not be more pleased with the outcome. Whether Deanna’s highly successful customer-focused leadership at PepsiCo, Jackie’s impressive track record of building teams and raising the bar at JAFRA, or Phil’s long tenure of strategic investing for outsized future growth at Amazon, today we’ve put in place key members of the team to help drive the business toward our goal of being tomorrow’s global protein company.”
Very Good Food Company Inc. announced the closing of its previously announced bought deal prospectus offering of 5,594,750 units of the Company at a price of $3.70 per Unit for aggregate gross proceeds of $20,700,575, which included the full exercise of the over-allotment option by the lead underwriter and sole bookrunner for the Offering, Canaccord Genuity Corp. VERY GOOD intends to use the proceeds from the Offering to fund the commencement of operations at its production facility in Patterson, California, US eCommerce and wholesale expansion efforts, International eCommerce launches and for general corporate purposes.
Tattooed Chef Inc. announced it has launched two of its original vegetable products in Whole Foods Market stores nationwide. 12oz bags of the following will be found at Whole Foods Market stores: Organic Greens, An assortment of five different greens. Seasoned zucchini, broccoli, haricots verts, peas & leeks. (GLUTEN-FREE & VEGAN) Zucchini Spirals: 100% Zucchini individually portioned in a spiral nest. (GLUTEN-FREE & VEGAN). “Whole Foods has been a terrific partner since 2010 and we are excited to officially launch our branded products in their stores,” said Sarah Galletti, Founder and the “Tattooed Chef.” “Our Organic Greens5 and Zucchini Spirals are delicious, and we can’t wait for you to try them.”
Shopify Inc. already powers commerce on the internet; in 2020, more than 450 million people checked out on Shopify, and we processed nearly $120 billion in Gross Merchandise Volume (GMV). As the world’s commerce platform, we keep innovating to give entrepreneurs endless possibilities to creatively present their brands and grow their businesses. Today at Shopify Unite 2021, we announced our largest set of platform investments to date. With a lens into the future where every merchant can tell their unique story, we are reinventing the internet’s commerce infrastructure like never before and calling on developers to help us build that future together.
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