As the meat industry falls out of favor with consumers, plant-based food choices are becoming more and more popular. World-famous billionaire investor and long-time cultured meat advocate Jim Mellon recently stated that over half the global meat supply would be replaced by cultured/plant-based meat within the next decade. According to Mellon, the meat-produced origins of COVID-19 may act as a catalyst for change in the entire food industry. “We need to do something about our food supply. We need to make it cleaner; we need to make it less environmentally damaging; and we need to remove antibiotics and hormones from the food supply,” Mellon said. Companies like The Very Good Food Company (TSXV:VERY) (OTCQB:VRYYF), Tattooed Chef (NASDAQ:TTCF), Sprouts Farmers Market, Inc. (NASDAQ:SFM), Beyond Meat, Inc. (NASDAQ:BYND), and Else Nutrition Holdings Inc. (TSXV:BABY) (OTCQX:BABYF) are delivering the kind of plant-based, natural solutions the market is demanding at just the right moment.
Else Nutrition Holdings Inc. (TSXV:BABY) (OTCQX:BABYF) is a cutting-edge Israeli plant-based children’s nutrition company that has been at the forefront of plant-based food and dairy-free products. It believes in using non-soy, clean ingredients for kids for all their products. As it expands its market presence, Else Nutrition’s profit margins have also shown signs of growth. In the first quarter of 2021, Else Nutrition’s revenue growth increased by over 90%, and increased amazon orders by 66%. As their product portfolio increases, these numbers are also projected to as well.
Else Nutrition recently expanded its offerings through the launch of its new line of plant-based nutrient-dense baby Super Cereals for infants aged 6 months and up. The new product launch comes on the heels of the release of its original Plant-Powered Complete Nutrition for Toddlers, and the Plant-Powered Complete Nutrition Shakes for Kids, which entered the market in June 2021.
“This marks a key milestone for the company as we continue on our goal towards offering a full range of clean label, plant-based nutrition for infants, toddlers and young children,” said Hamutal Yitzhak, CEO and Co-Founder of Else Nutrition Holdings Inc. (TSXV:BABY) (OTCQX:BABYF). “These clean label, nutrient dense baby Super Cereals greatly expand our offering and create a beachhead into the extensive and growing infant nutrition market.”
Else Nutrition has also continued to expand its research and development efforts to further validate its products. In July, the company announced an upcoming clinical study to establish the scientific basis for the safety and tolerance of Else Nutrition products. The study, which will be led by Prof. David Fleicher and Prof. Carina Venter from the Children’s Hospital Colorado and University of Colorado Denver School of Medicine, will follow healthy toddlers for 4 months, comparing growth and wellness versus those consuming a commercial cow milk-based toddler product.
In the past few months, Else Nutrition Holdings Inc. (TSXV:BABY) (OTCQX:BABYF) signed a deal with Rouses markets to expand to 65 different retailers and distributors across the Southern United States. Additionally, in June 2020 Else Nutrition made an agreement with Huckleberry Natural Market to distribute their baby food cereals and shakes at 16 different locations, opening the company’s distribution capabilities across the Pacific Northwest.
The Plant-Based Food Sector Continues to Heat Up
The Very Good Food Company (TSXV:VERY) (OTCQB:VRYYF) announced the launch of its gluten-free and soy-free Butcher’s Select product line of plant-based meats , which the company launched to compete with companies like Beyond Meat and Impossible Foods. The ery Good Food Company’s Butcher’s Select line will not only appeal to those interested in a more plant-based diet, but also to the estimated 30% of Americans who avoid gluten.
Leading plant-based food company Tattooed Chef (NASDAQ:TTCF) is broadening its distribution nationwide through the upcoming launch of its branded products across multiple categories in approximately 1,800 Kroger stores by late summer 2021. The company’s plant-based offering including pizzas, entree bowls, and vegetables will be available in nearly every Kroger, giving the company access to a wide range of consumers from across the country.
Sprouts Farmers Market, Inc. (NASDAQ:SFM) is also extending its reach in the United States. In June, the company announced the opening of its new produce distribution center, its seventh in the country, to support its rapid expansion in Florida. The 135,000 square-foot facility will support Sprouts current 23 stores in the state and the additional 10 locations planned to open in Florida this year.
Plant-based meat producer Beyond Meat, Inc. (NASDAQ:BYND) Beyond Meat, Inc. (NASDAQ:BYND) is continuing to infiltrate the vegan meat space with the launch of its Beyond Chicken Tenders, which will be launched at select restaurants across the United States. According to the company, nearly 200 research, innovation and culinary team members have spent almost a decade perfecting Beyond Chicken Tenders, which are made from simple, plant-based ingredients like faba beans and peas.
Meanwhile, Else Nutrition Holdings Inc. (TSXV:BABY) (OTCQX:BABYF) is focused on providing complete nutrition clean and whole food plant-based food and drink alternatives for health-conscious parents of babies, infants and toddlers.
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