Millions of U.S. consumers are shifting to plant based diets. In fact, according to a press release from The Very Good Butchers, “More than half of U.S. households are purchasing strictly plant-based foods. The plant-based meat category has been on an upward trajectory and reached U.S. $1.4 billion in sales in 2020, growing 45% overall compared to 2019, and now accounts for 2.7% of all U.S. retail packaged meat sales, according to SPINS data released by the Good Food Institute and the Plant Based Foods Association (PBFA).” Further adoption of plant based diets could drive strong growth 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), Amazon.com (NASDAQ:AMZN), and PlantX Life Inc. (CSE:VEGA)(OTCQB:PLTXF).
In addition, according to the PBFA, “Plant-based food dollar sales are growing faster than those of many conventional animal products. In 2020, plant-based yogurt grew 20%, almost seven times the rate of conventional yogurt; plant-based cheese grew 42%, almost twice the rate of conventional cheese; and plant-based eggs grew 168%, almost 10 times the rate of conventional eggs. The plant-based egg category grew more than 700% from 2018, 100 times the rate of conventional eggs.”
Look at Feel Foods Ltd. (CSE:FEEL)(OTC:FLLLF) For Example
Feel Foods Ltd. announced it is creating a new e-commerce platform with advanced logistics operations in time for the festive season. Web developers ‘Able & Howe’ is designing the new e-commerce site with full e-commerce capabilities as well as state-of-the-art inventory control capabilities, ensuring operations are efficient, effective, and uninterrupted.
Prior to the upcoming holiday season and the launch of its e-commerce platform, Feel Foods is adding more fulfillment personnel and is ramping up production of its popular, 100% owned Black Sheep Vegan Cheeze ahead of anticipated increased demand for these products that are already available for purchase on multiple online marketplaces including: www.spud.ca, www.veganofoods.com, Vegan Supply online and www.farmtotablemarket.ca.
Shipping and logistics have been improved with new cold shipping units to ensure products reach consumers with maximum freshness and shelf life. Feel Foods investors, stakeholders and customers are encouraged to begin following Black Sheep at Instagram.com/blacksheepvegancheeze and at any of the above online marketplaces to try Black Sheep unique products.
Feel Foods CEO, David Greenway, states: “The highly anticipated launch of our new e-commerce platform is an upcoming milestone for Feel Foods. This direct-to-consumer model is the most profitable sales channel in retail sales and allows us to scale up its distribution while controlling quality and reliability.
“Our Black Sheep Vegan Cheeze brand continues to grow its presence and distribution online as well as in stores and now available in over 70 grocery and food services locations throughout British Columbia. Our Cranberry Voursin is one of our best sellers and a perfect substitute to spreadable cheeses when entertaining this festive season. We are currently working on launching exciting new plant-based products for you to enjoy ahead of the holiday season this year.”
The plant-based food market is expected to grow at a CAGR of 11.9% between 2020 and 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.
Other related developments from around the markets include:
The Very Good Butchers, the leading brand of The Very Good Food Company, a plant-based meat company, whose plant-based Butcher Boxes, Smokin’ Burgers, and The Very Good Burgers are available for purchase on Amazon, were recently ranked as the number one release in the meatless burgers and patties category with Amazon U.S. Customers can order the brand’s post popular products through Amazon, further positioning its mission to make plant-based eating not only nutritious and delicious, but approachable and accessible. With more consumers interested in plant-based products due to a renewed focus on health and sustainability, more than half of U.S. households are purchasing strictly plant-based foods. The plant-based meat category has been on an upward trajectory and reached U.S. $1.4 billion in sales in 2020, growing 45% overall compared to 2019, and now accounts for 2.7% of all U.S. retail packaged meat sales, according to SPINS data released by the Good Food Institute and the Plant Based Foods Association (PBFA) in April.
Nabati Foods Global Inc., a plant-based food technology company offering whole, natural, plant-based foods for health-conscious consumers, announced its Nabati Cheeze Shreds, Nabati Plant Eggz™, and its plant-based Chick’n and F’sh Burgers are now available via online retailer GTFO It’s Vegan. GTFO It’s Vegan launched in the Spring 2020 and offers more than 2,500 vegan food, home goods, drinks, and pet products. Several Nabati Foods products are now available on the site including chocolate and tiramisu cheesecakes, Nabati Cheeze Shreds in both mozzarella and cheddar flavors, Nabati Plant Eggz™, Nabati F’sh Burgers, and Chick’n Burgers.
PlantX Life Inc. announced that it will launch two new shop-in-shops within prominent Hudson’s Bay locations. The two XMarket stores will open in Yorkdale Mall, Toronto, on November 15, 2021, and Rideau Mall, Ottawa, on November 22, 2021. The partnership between the Company and Hudson’s Bay began with PlantX’s launch as a Marketplace seller on www.thebay.com in April 2021. On the heels of that success, PlantX will now open two new “shop-in-shop” modern signature stores called XMarket, inside Hudson’s Bay. The stores will showcase a variety of plant-based grocery items, cosmetics, and indoor plants. Additionally, the XMarket Rideau location will include an XMarket-branded café providing consumers with carefully selected plant-based food and beverages.
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