There’s massive demand for plant-based foods. So much so, the market could be worth up to $74.2 billion by 2027, according to Research and Markets. By 2030, according to Fortune, sales are expected to increase five-fold by 2030. All as millions adopt healthier, meat-free lifestyles. Tyson, Smithfield, Perdue, Hormel, and Nestle are all jumping on bandwagon, selling plant-based products, too. That could all be beneficial for Komo Plant Based Foods (CSE: YUM) (OTCQB: KOMOF), Loblaw Companies Ltd. (TSX: L) (OTC: LBLCF), Else Nutrition Holdings Inc. (TSXV: BABY) (OTCQX: BABYF), Oatly Inc. (NASDAQ: OTLY), and good natured Products Inc. (TSXV: GDNP) (OTCQX: GDNPF).
Even better, by 2035, the market could be worth about $290 billion. As noted by Eco-Business.com, “The alternative protein market has rocketed over the past five years as investors pour billions into finding sustainable alternatives to meat and consumers switch to animal-friendly diets. The market for alternative meat, eggs, dairy, and seafood products is set to reach $290 billion by 2035, according to Boston Consulting Group.”
Look at Komo Plant Based Foods Inc. (CSE: YUM) (OTCQB: KOMOF), For Example
Komo Plant Based Foods Inc.just announced it is increasing retail distribution for all of its 9 products across Canada with Loblaw Companies Ltd. 4 SKUs will be listed nationally in 8 Loblaws warehouses and the remaining 5 SKUs will be distributed to Loblaw’s banner stores direct from our distributor partners to retail locations across western Canada.
Loblaw Companies is Canada’s largest Canadian food retailer with over 2,400 stores across the country including corporate and franchise supermarkets operating under 22 regional and market segment banners including Loblaws.
Komo’s original flagship line of products, including the 2 serving Lasagne, the 2 serving Shepherd’s Pie, the Chickenless Pot Pie, and the 2 serving newly launched Komo product, “Mac & Greens”, are being sent to 8 Loblaws’ warehouses located across Canada for distribution in Loblaw’s banners.
Komo’s “Meal Helpers” line, which includes the BBQ Mushroom Lentil Taco Filling and Komo’s Walnut Mushroom Bolognese, as well as the family size SKUs of the Mac & Greens, Shepherd’s Pie and Lasagne will be distributed directly to Loblaw banner stores by Komo’s distributors. Banner stores anticipated to be carrying Komo products include Loblaws, Superstores including Great Canadian Superstore (Atlantic Provinces), No Frills, YIGs, City Markets, Extra Foods, Fortino’s and Provigo (Quebec). Products are expected to be on store shelves beginning the first week of November 2022.
“Achieving distribution for all of our healthy vegan frozen products to Loblaw’s customers across Canada including our latest innovation “Mac & Greens” demonstrates the market demand for our quality products,” says Komo CEO William White. “All of our products are 100% plant-based, made with wholesome ingredients, free from preservatives, artificial colours and flavours and frozen for freshness.”
Other related developments from around the markets include:
Loblaw Companies Ltd. announced its unaudited financial results for the second quarter ended June 18, 2022. Loblaw delivered strong operational and financial results as it continued to execute on retail excellence in its core businesses, while advancing its growth and efficiencies initiatives. Drug Retail performance continued to drive overall margin expansion, as sales benefited from growth in higher margin front-store categories. The positive trend in Food Retail continued with the Company’s conventional stores performing well relative to peers and sales growth in its discount banners, heightened by the strength of the No Frills® and Maxi® hard-discount stores and the Company’s value focused control brand no name.”
Else Nutrition Holdings Inc. announces that it has launched in Canada on Amazon.ca. Else launched on Amazon.com in the United States in September 2020, and in less than 2 years grew to an annual business of 4m CAD. In this short period, Else’s offerings grew from a single SKU to three product lines with more than 15 SKUs. In its Q2 2022 financial results Else reported outstanding results on the Amazon platform - 84% QoQ sales increase and doubling its loyal subscriber community on the platform from 1,000 to almost 2,000. The Else Amazon.ca launch includes a full range of Canadian compliant products with bilingual compliant packaging, including a Toddler nutrition product, Kids shakes in Vanilla and Chocolate flavors, and to be soon followed by Supper Cereals for babies from 6 months and older in a few flavors.
Oatly Inc., the world’s original and largest oat drink company, announced financial results for the second quarter and six months ended June 30, 2022. Toni Petersson, Oatly’s CEO, commented, “We delivered strong second quarter financial results with sales growth of 22%, or 30% in constant currency, despite several headwinds including COVID-19 lockdowns in China. Profitability metrics improved compared to the first quarter of 2022 and we expect this trend to continue in the second half of the year. As we expand and scale our more localized production footprint while remaining disciplined in our capital allocation, we are confident in our ability to achieve much better production economics and operating efficiencies, reduce our environmental impact, and achieve profitability. Global consumer demand remains as strong as ever and we have a proven multi-channel strategy that we believe positions us well for long-term growth and profitability."
good natured Products Inc., a North American leader in plant-based products, announced its financial results for the three months and six months ended June 30, 2022. For Q2 2022, the Company delivered another quarter of positive adjusted EBITDA1 coupled with strong growth in revenues. Gross margins remained in the targeted range despite continued inflationary pressure, while growth in revenue and gross profit outpaced increases in operating expenses. Revenue in Q2 2022 grew on a year-over-year basis by 106% to $25.5 million, driven by strong organic growth, increases in average selling price per unit and contribution from strategic acquisitions. The Company’s active business-to-business customer accounts grew to over 1,400 as at June 30, 2022.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Komo Plant Based Foods by Komo Plant Based Foods. We own ZERO shares of Komo Plant Based Foods. Please click here for full disclaimer.
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