Big Demand for Plant-Based Food Creating Massive $27.9 Billion Market

Big Demand for Plant-Based Food Creating Massive $27.9 Billion Market

There’s massive demand for plant-based foods. So much so, the market could be worth up to $27.9 billion in the next five years with no signs of cooling off. Better, plant-based food demand is just beginning to outpace total food sales. “This new data shows that consumers are turning to plant-based food options now more than ever,” said Julie Emmett, senior director of retail partnerships at the Plant Based Foods Association (PBFA). What’s more, according to Health Focus International, as noted by Medium, “17 percent of U.S. consumers aged 15 to 70 claim to eat a predominantly plant-based diet, with 60 percent reporting a cut back on meat-based products. Of those who are reducing their animal-based protein intake, 55 percent say the change is permanent and 22 percent hope that it is.”

In addition, “According to the Good Food Institute (GFI), 2019 was a record-breaking year for plant-based meat, egg, and dairy companies in the U.S., who received more than $747 million in investments. Global cultivated meat companies raised more than $77 million in capital in 2019, for a total of $824 million in alternative proteins. However, investment in the U.S. plant-based meat, egg, and dairy companies in just the first quarter of 2020 was a staggering $741 million – almost as much as for the entirety of 2019,” as reported by Meticulous Research. That’s benefiting companies, such as Plant & Co. Ltd. (CSE: VEGN)(OTC: EURPF), Beyond Meat Inc. (NASDAQ:BYND), Very Good Food Company Inc. (CSE:VERY)(OTC:VRYYF), Modern Meat Inc. (CSE:MEAT)(OTC:SUVRF), and Guru Organic Energy Corp. (TSX:GURU).

Plant & Co. Ltd. (CSE: VEGN)(OTC: EURPF) BREAKING NEWS: Plant & Co. Ltd. a vertically integrated enterprise focused on the health and wellness sector, is pleased to announce that it has signed an agreement with the University of Manitoba to develop a proprietary hemp protein concentrate that will form the basis of an all-natural hemp-based line of gluten free food products, rich in protein and offering a healthy alternative to the current egg and milk based products currently saturating the market. 

“We are focused on establishing a premium brand of quality of plant-based food products through M&A opportunities such as Holy Crap Brands, and at the same time organically, through home grown initiatives like developing hemp-based food products with the University of Manitoba,” said Shawn Moniz, CEO of Plant & Co. Brands. “The Richardson Centre of Functional Foods and Nutraceuticals is well known for its development of unique and proprietary healthy food products. I expect the resulting product to be a key ingredient – our ‘secret sauce’ if you will – in a line of healthy, gluten-free, plant based food products.”

The research and development program will be conducted by a team of food scientists from the Richardson Centre of Functional Foods and Nutraceuticals at the University of Manitoba and consist of two phases. The first phase will include systematic investigation to establish a proprietary method of milling and processing to produce a defatted hemp flour with increased protein levels. The second phase will take the results of the first phase and produce a defined amount of concentrate for testing in food products. The two-phase program is expected to be completed by the end of the first quarter 2021.

Richardson Centre of Functional Foods and Nutraceuticals has a state-of-the-art, 55,000 square foot research and development facility, located at 196 Innovation Drive in Winnipeg, Manitoba, and is part of the Faculty of Agricultural and Food Sciences, University of Manitoba. The Centre provides a variety of services to the agricultural, ingredient processing, functional food and nutraceutical industries, including pilot plant services, primary and secondary processing, formulation, packaging services, analytical testing and human testing.

Traditionally known for its use in textiles due its long and strong fibers, hemp seeds have become the source of a robust health food and alternative medicinal marketplace. Like flax and chia seeds, hemp seeds are recognized as a superfood because they are high in protein, contain 20 amino acids, and are high in the fatty acid omega-3 and omega-6. Hemp seeds are typically pressed to produce oil with the remaining by-product processed into a flour or concentrate from which gluten-free plant-based products like pasta, baked goods and other healthy foods can be created.

Cannabidiol (CBD) is the naturally occurring compound found in the seeds, stalk and flowers of hemp plants. Scientific and clinical research is ongoing but early indications show that CBD is a potential treatment for patients looking for relief from inflammation, pain, anxiety, psychosis, seizures, spasms, and other conditions. Potential health benefits from hemp food products include weight suppressant (high in fiber), immune-system booster, and an ability to lower blood pressure and cholesterol.

Plant & Co. is establishing a premium brand of quality of plant-based food products, with an emphasis on health and wellness, in one of the fastest growing market segments in the food industry. The research and development program at the University of Manitoba is focused on unlocking the true value of hemp by creating a proprietary flour or concentrate to be used in a new generation of plant-based, nutrient rich gluten-free food, beverage and healthcare related products.

Other related developments from around the markets include:

Beyond Meat Inc. (NASDAQ:BYND), a leader in plant-based meat, announced the next step forward in cutting-edge innovation with the unveiling of two new versions of the Beyond Burger® which are expected to launch nationwide in early 2021. A trifecta of taste, health and sustainability, the new iterations are designed to meet consumers’ growing demand for plant-based proteins that deliver on both taste and nutrition, while featuring an enhanced meaty flavor and the craveable taste consumers love, with an even better nutritional profile. Similar to the range of nutritional options of beef currently available in the marketplace, the two versions are designed to offer more choice for consumers. The new Beyond Burgers will include the brand’s juiciest patty for the meatiest burger experience even as it delivers strong nutritional wins relative to 80/20 beef with 35% less saturated fat, as well as its most nutritious patty yet with 55% less saturated fat than 80/20 beef. Both new burgers will boast the same savory taste profile, have lower overall fat and fewer calories than 80/20 beef, and have B vitamins and minerals comparable to the micronutrient profile of beef.

Very Good Food Company Inc. (CSE:VERY)(OTC:VRYYF), a progressive creator of innovative plant-based food products, is pleased to announce record sales in November due to highly successful Thanksgiving, Black Friday and Cyber Monday e-commerce sales promotions. VERY achieved a new record for monthly sales in November 2020 of $782,790, an increase of 582% over November 2019 due to increased e-commerce sales attributable to American Thanksgiving along with Black Friday and Cyber Monday sales promotions.

Modern Meat Inc. (CSE:MEAT)(OTC:SUVRF), an award-winning plant-based food manufacturer, is pleased to announce the launch of its plant based Modern Gyoza and the successful sellout lauch of its holiday bundle over the weekend, both created by the Modern Meat development team. The gyoza retains authentic Asian flavours, while replacing traditional animal protein found in most recipes with healthy vegan protein. In addition to launching the Modern Gyoza, Modern Meat has agreed to a co-packing agreement for the gyoza with the capacity to produce up to 100,000 gyozas in a 7-hour shift. “I am extremely excited for the launch of our Modern Gyoza. The gyoza has been a staple food for many families and the flavour profile is authentic and in-line with traditional gyoza,” states Tara Haddad, Chief Executive Officer of the Company.  “The main difference is now we have a focus on the health benefits of a plant-based gyoza.  During the research and development process we anticipated production capacity issues as we have had overwhelming demand for our other plant-based products. We solved these production capacity issues by agreeing to co-pack with a specialist in the industry. The ability to produce up to 100,000 pieces of gyoza in a regular work shift is great news for our company as it does not take away from our existing production and takes advantage of our great distribution network. We expect the revenues from the gyoza to be significant to our balance sheet as we will also be adding new distribution teams/networks to introduce the product.”

Guru Organic Energy Corp. (TSX:GURU), Canada’s leading organic energy drink brand, announced the addition of GURU Yerba Mate to its growing plant-based energy drink family. Inspired by the Amazon and concocted in Quebec, GURU Yerba Mate is infused with natural and organic energy boosting ingredients. With a PhD in pharmacology, Luc Martin-Privat, GURU Brewmaster and Vice-President of R&D and Innovation, has perfected the art of blending botanicals. GURU is a leader in the development of new plant-based and organic options for energy drink consumers. Last year, Luc created GURU Matcha, inspired by the Far East. “The launch of GURU Matcha has created a lot of interest and curiosity among our consumers around the functional benefits of the organic plants that we value in our energy drinks.”

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 Plant & Co. Ltd. by a third party. We own ZERO shares of Plant & Co. Ltd. Please click here for full disclaimer.

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Published at Thu, 17 Dec 2020 12:21:52 +0000

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Written by Riel Roussopoulos


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