Demand for plant-based foods has been on the rise, especially during the coronavirus. All as consumers try to eat healthier, as noted by Nestle. “People also have a renewed interest in personal health and losing weight as COVID particularly affects those with pre-existing health conditions,” CEO Mark Schneider said, as quoted by Reuters. In addition, according to FAIRR, over $1.1 billion of venture investment has flowed into alternative proteins in the first half of 2020, more than doubling last year’s total investment ($534 million). The alternative protein market is expected to grow to $17.9 billion by 2025. Amidst public concern over the link between meat production and the ongoing COVID-19 and African Swine Fever crises, retailers and manufacturers are facing a surge in demand for plant-based products.”
Better, UBS analysts say the alternative meat market could grow 28% a year to $85 billion in the next 10 years, as reported by Business Insider. Euromonitor estimates that the market for plant-based foods could be worth $2.5 billion by 2023, reports CNBC. That’s creating big opportunity for companies like Else Nutrition Holdings Inc. (TSXV: BABY)(OTCQX: BABYF)(FSE:0YL), United Natural Foods Inc. (NYSE:UNFI), SunOpta Inc. (NASDAQ:STKL), ConAgra Brands Inc. (NYSE:CAG), and Sprouts Farmers Market Inc. (NASDAQ:SFM).
Else Nutrition Holdings Inc. (TSXV: BABY)(OTCQX: BABYF)(FSE:0YL) BREAKING NEWS: Else Nutrition Holdings Inc., a commercial stage developer of plant-based alternatives to dairy-based baby nutrition, is pleased to provide an update on upcoming availability of the Company’s products in U.S. retail stores. The Company expects to begin its initial store distribution via KeHE Distributors in western and southern regions of the United States as early as late November 2020, and is to include up four regional accounts and one national key account, totaling 380 stores in advance of the Christmas season.
Following the recent successful e-store and Amazon launch for its plant-based toddler nutrition line, Else has been working diligently through its network of retail brokers and KeHE Distributors on strategic ‘Brick & Mortar’ account listings across various critical US regions. “We are very encouraged with the aggressive interest we have received for our product. Parents and families have waited a long time for a plant-based alternative to dairy-based baby nutrition. Soon parents across the United States will be able to find our product at stores near them in addition to being able to order online,” said Mrs. Hamutal Yitzhak, CEO and Co-Founder of Else.
Other related developments from around the markets include:
United Natural Foods Inc. (NYSE:UNFI) and Key Food Stores Co-Operative, Inc. announced they have reached a long-term supply agreement for UNFI to serve as the primary grocery wholesaler to Key Food with expected sales to UNFI of approximately $10 billion over 10 years. Founded in 1937, Key Food is a co-operative of independently owned and corporate supermarkets located in New York, New Jersey, other states in the Northeast, and Florida. Stores are operated under multiple banner names that include Key Food, The Food Emporium, Food Universe, Food Dynasty, SuperFresh, and Gala Foods Supermarkets. “Key Food, whose members operate more than 315 stores, is a rapidly growing organization with a large market share in the New York market,” said UNFI’s Chairman and CEO, Steven Spinner. “We have recently begun to service their Florida stores and are excited to expand service to their Northeast stores toward the end of 2021. We believe our unmatched product variety and knowledge of today’s consumer will benefit Key Food and its retailers, and we look forward to driving value to their operations.”
SunOpta Inc. (NASDAQ:STKL) announced that it will issue financial results for the third quarter 2020 before the markets open on Thursday, October 29, 2020. Following the release, SunOpta will host a conference call at 9:00 AM Eastern Time to discuss its financial results and recent corporate developments. After opening remarks, there will be a question and answer period. Investors interested in listening to a live webcast of the conference call can access a link on SunOpta's website.
ConAgra Brands Inc. (NYSE:CAG) has announced the launch of "United For Change," an updated approach to its national employee fundraising campaign. This initiative encourages employees to make personal financial contributions that support essential community programs that provide financial stability, alleviate systemic issues of poverty and advance civil liberties for all Americans. The campaign will benefit United Way and its member agencies as well as the American Civil Liberties Union Foundation (ACLU), which was chosen as a partner this year by Conagra Brands employees to bring forth greater awareness and education for social justice, racial justice, and equality issues. At the conclusion of the campaign, Conagra Brands Foundation will also provide donations to the United Way and the ACLU Foundation, based upon the amount contributed by employees, to advance the vital work being done by both organizations.
Sprouts Farmers Market Inc. (NASDAQ:SFM) will open a new store in Eastvale at 13984 Limonite Avenue on Wednesday, October 28 at 7 a.m. The new store will expand local access to fresh and healthy groceries, and will be open daily from 7 a.m. – 10 p.m. The new Eastvale Sprouts will be the first retail tenant of The Merge development at the northeast corner of Archibald and Limonite Avenues. Parking will be easily accessible around the center during construction. To celebrate the new location, the first 200 shoppers will receive 20% off their purchase on grand opening day, and every customer will receive a free reusable shopping bag with purchase.
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 Else Nutrition Holdings Inc. by a third party. We own ZERO shares of Else Nutrition Holdings Inc. Please click here for full disclaimer.
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