The plant-based food market is booming. So much so, analysts at Credit Suisse say the market could grow 100-fold by 2050. In fact, they believe that a plant based shift in global food systems in “inevitable,” as noted by The Beet, and that the market could reach $1.4 trillion by 2050. That could be a powerful catalyst for companies such as Komo Plant Based Foods (CSE:YUM)(OTC:KOMOF( FRA:9HB), Rritual Superfoods Inc. (CSE:RSF)(OTC:RRSFF), Very Good Food Company Inc. (CSE:VERY)(OTC:VRYYF), good natured Products Inc. (TSXV:GDNP)(OTC:SLGBF), and Oatly Group (NASDAQ:OTLY). In addition, “Credit Suisse emphasizes that the growing plant-based market could be profitable to investors worldwide because the plant-based market is growing faster each year, and with exponential growth, investors will need to change their priorities with the quickly shifting market,” added The Beet.
Komo Plant Based Foods (CSE:YUM)(OTC:KOMOF)(FRA:9HB) Expands Plant-Based Meal Helpers
Komo Plant Based Foods Inc. just announced the expansion of Komo’s Plant-Based Meal Helpers line with the launch of Komo’s Plant-Based BBQ Mushroom Lentil Taco Filling.
“Our Plant-based Meal Helpers line addresses three major trends: Plant-forward diets are more prevalent than ever before; consumers are cooking at home more often and looking for easier ways to bring dinner to the table; and the desire for clean, wholesome ingredients and products. At Komo, we’re on a mission to share the love of plant-based foods and make plant-based meals a staple on every dinner table. All our products are uncompromisingly easy, wholesome and hearty to make plant-based eating more accessible through familiar favourites like our lasagna, bolognese sauce and now our taco filling,” says Komo Comfort Foods CEO Jeffrey Ma.
Komo’s new Taco filling is made with 100% plant-based and wholesome ingredients including enoki mushrooms, lentils, carrots and pea protein cooked in a sweet and tangy BBQ sauce. Komo’s easy taco filling is ready to serve and versatile as consumers just heat and use it as a taco stuffer, sandwich filler, nacho topper and more. Like all Komo products, the sauce is free from preservatives, artificial colours and flavours. Komo’s taco filling is also free from gluten and soy ingredients.
KOMO is targeting single and multi-serve plant-based dinners and entrees sub-categories with its Ready-to-Bake Classics and its Plant-Based Meal Helpers. All of Komo’s products are 100% plant-based, made with wholesome ingredients, free from preservatives, and frozen for freshness and have a 1-year frozen shelf life. Komo’s Ready-to Bake Classics, which include Lasagna, Shepherd's Pie and Chick’n Pot Pie, have garnered excellent consumer reviews, with over 60 - 5 star reviews from verified buyers now posted on Komo’s eCommerce website. Komo
is continuously engaged in research and development of new products in its commercial kitchen and plans to launch another 5 new products by the end of 2021.
The global frozen food industry is predicted to grow to $64.7 billion between 2020 and 2024, with the growth largely driven by plant-based foods, according to Technavio. In 2020, 56% of U.S. households purchased plant-based foods according to the Plant Based Foods Association.
Komo announces it has changed its ticker on the OTC Markets (Pink) in the United States to the symbol KOMOF as of June 21, 2021 and is in the process of upgrading its listing to the OTCQB® Venture Market.
Other related developments from around the markets include:
Rritual Superfoods Inc. announced the listing of the Rritual Superfoods product line on leading health food marketplace, The Good Trends. “Rritual's strategy to put our products within arms-reach of customers throughout the USA includes a strong emphasis on independently owned health and wellness retailers," said Mr. David Kerbel, Rritual President and CEO. "The Good Trends leads the field in providing neighborhood and independently owned retailers with access to brands on the leading edge, and the ability to benefit from scale, supporting those businesses to thrive and serve their significant and very loyal customer base."
Very Good Food Company Inc., a leading plant-based food technology company, announced that its flagship brand - The Very Good Butchers - will be available to U.S. customers through its new Amazon store by the end of June 2021. The Amazon.com launch strongly supports VERY GOOD's mission to make plant-based eating not only nutritious and delicious, but approachable and accessible. U.S. customers will soon have access to the Company's popular bean-based products through their well-known Butcher Boxes which include some of The Very Good Butchers best sellers such as Very Good Pepperoni, The Very British Banger, The Very Good Burger and the Taco Stuff'er. VERY GOOD's Butcher boxes will also be available through Amazon's app making it even easier for consumers to order its delicious products.
good natured Products Inc., a North American leader in earth-friendly plant-based products, announced its financial results for the three months ended March 31, 2021. "Our first quarter revenue growth of just under 160% sets the stage for our recently announced acquisition of Ex-Tech Plastics Inc. This highly strategic and accretive acquisition of Ex-Tech Plastics Inc. positions good natured® for further strong revenue growth and improved profitability," stated Paul Antoniadis, CEO. "We are also extremely pleased to report our first ever positive EBITDA quarter, as our team members and partners worked hard through disruptions in key markets from COVID-19 variants, extreme weather-related events in the southern US, and the external cost inflation in our logistic and fulfillment operations. In addition, new customer activity remains strong, and we are confident in our outlook for organic growth, highlighted by our recent launch of Canada's first compostable and Microwavable To Go Containers. These growth drivers are expected to mitigate the logistic inflationary cost pressures we are seeing which could continue through the rest of 2021."
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