The plant-based boom isn’t going away. At least, not any time soon. In fact, we’re looking at an industry that could grow 100-fold by 2050 to $1.4 trillion, says Credit Suisse. All as demand for plant-based alternatives runs higher. According to Alan Jope, Unilever’s Chief Executive, “We are seeing in every single country in the world a shift towards more plant-based diets, even in emerging markets.” Even Tyson, Smithfield, Perdue, Hormel, Nestle have jumped on the plant-based bandwagon, for example. McDonald’s introduced a McPlant meatless burger. Jimmy Dean added plant-based patties, including the Jimmy Dean Plant-Based Patty, Egg & Cheese Croissant Sandwich, and Jimmy Dean Delights Plant-Based Patty & Frittata Sandwich. However, that’s just the start. With the plant based story only heating up, and more folks around the world shifting to plant-based meals, we could be looking at a massive market. That’s all great news for companies such as Feel Foods Ltd. (CSE:FEEL)(OTC:FLLLF), Very Good Food Company Inc. (CSE:VERY)(OTC:VRYYF), Nabati Foods Global Inc. (CSE:MEAL), Komo Plant Based Foods (CSE:YUM)(OTC:KOMOF)(FSE:9HB), and Blender Bites Ltd. (CSE:BITE).
Look at Feel Foods Ltd. (CSE:FEEL)(OTC:FLLLF) For Example
Feel Foods Ltd. announced that further to its news release dated September 13th, 2021, it has completed its arm’s length acquisition of Black Sheep Vegan Cheeze Company Corp., a British Columbia-based vegan cheese company, pursuant to the terms of a share exchange agreement dated September 8, 2021 among the Company, Black Sheep and the shareholders of Black Sheep.
Founded in 2017, Black Sheep’s products are currently produced at the company’s Okanagan research and development (R&D) commercial kitchen which has a total annual capacity of over 130,000 cheese units. Black Sheep is currently offered at over 40 grocery stores and close to 30 food services locations throughout British Columbia. The company, with its R&D commercial kitchen and previous investments in cold storage, will begin scaling production in anticipation of expanded distribution on the west coast of the United States, East of British Columbia in Canada, as well as the launch of its ecommerce site.
Furthermore, the company welcomes the founders of Black Sheep Vegan Cheezes, Jenna and James Johnson to the Feel Foods Family to hold the following positions of VP R&D – Plant-Based Dairy and VP, Sales and Operations – Plant-Based Dairy.
We encourage Feel Foods Investors, Stakeholders and Followers to begin following Instagram.com/blacksheepvegancheeze to find out when it is available in a store near you.
Feel Foods CEO David Greenway states: “Closing the acquisition of Black Sheep is yet another exciting milestone event as we continue to grow the Feel Foods plant-based family of companies. We look forward to working closely with Black Sheep and its founding team to expand distribution and develop excellent new plant-based products. We are on a mission to transform plant-based food, with no compromises on taste or quality while reducing global environmental impact. Together, by shifting our collective approach to food, we can improve the health of our World, the lives of animals, and preserve valuable resources for generations to come.”
Black Sheep Vegan Cheeze was founded in 2017 by a vegan husband and wife team from Armstrong British Columbia, Canada’s cheese capital and offers variety of great tasting non-dairy cheese alternative products. Black Sheep’s mantra is that eliminating dairy is not only for the numerous health benefits but also because of the cruelty that happens in the dairy industry, not to mention the vast environmental impact of a plant-based diet.
A variety of 10 unique vegan dairy substitute products are currently available in over 40 retail locations, including select locations at Nesters, Nature’s Fare Markets, The Independent, The Very Good Butchers, Pomme Natural, Vegan Supply and many other fine retailers across 16 cities throughout BC as well as online and in person at farmers markets. Feel Foods intends to finance and support a North America wide expansion of this best-in-class brand while working closely with the Black Sheep founders to develop additional exceptional products for the plant-based community.
The plant-based food market is expected to grow at a CAGR of 11.9% from 2020 to 2027 to reach $74.2 billion by 2027. The growth of this market is mainly attributed to the factors such as increasing incidence of intolerance for animal protein, growing urbanization with new consumer aspirations, increasing vegan population, and significant venture investments in this sector.
Other related developments from around the markets include:
Very Good Food Company Inc., a leading plant-based food technology company, announced that it has brought back its limited-edition Stuffed Beast, a delicious and carefully crafted plant-based meat, just in time for the holidays with US distribution starting in over 250 stores. The plant-based Stuffed Beast, sold under VERY GOOD’s leading brand The Very Good Butchers, will be available in over 250 stores across the US at a variety of retailers including Wegmans, Earthfare, PCC Markets, Metro Markets among numerous independents supplied by UNFI US. In addition, VERY GOOD will be offering its plant-based Thanksgiving Box and Holiday Meat Box available for purchase in the beginning of October, just in time for the American holiday season. Packed with fall and winter-inspired flavours, these limited-edition plant-based offerings are made with a variety of seasonal vegetables and spices.
Nabati Foods Global Inc., a plant-based food technology company offering whole, natural, plant-based foods for health-conscious consumers, is announcing that its plant-based liquid egg product, Nabati Plant Eggz™, is now available at all Whole Foods locations throughout British Columbia. “We are excited to bring Nabati Plant Eggz™ to our B.C. and Ontario customers through the province’s multiple Whole Foods locations. Whole Foods is an excellent retail partner that aligns with our values and demonstrates those values by bringing natural, clean, healthy foods to more people,” Nabati Foods CEO Ahmad Yehya said.
Komo Plant Based Foods, a premium frozen plant-based food company, announces that it has signed an agreement with an established food manufacturer in Metro Vancouver to produce two lines of its plant-based products. After months of due diligence of various potential co-manufacturing partners, Komo, on Sept 23, 2021 entered into a co-manufacturing agreement with a company whose facility is in Metro Vancouver. Pursuant to the agreement, Komo can immediately increase manufacturing for six of its products currently on the market. Komo has been preparing for expansion with this chosen co-manufacturer with the order of specialized equipment to produce Komo products, allowing production to now begin.
Blender Bites Ltd., a Canadian company involved in the development and marketing of a line of frozen premium organic and plant-based pre-portioned frozen smoothie pucks, announces record production of 45,888 bags of its smoothie pucks in the month of September, and the launch of its product in over 800 stores across Canada. Blender Bites is a Vancouver, Canada based consumer packaged goods company founded in 2017 with a mandate to provide consumers with a 100% organic, non-GMO, functional and convenient solution for their daily smoothie routine. The Company is the first to produce a pre-portioned smoothie puck in the Canadian market, pioneering the “easy smoothie” category in retail grocery stores, while also proving to be functional ingredients for a multitude of other food applications. The Company is looking to capitalize on the $20.3 billion global smoothie market, as well as the even larger functional beverage market.
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