The plant-based product boom is picking up sizable momentum. In fact, according to a recent report from Meticulous Research, the plant-based food market could be worth $74.2 billion by 2027, growing at a CAGR of 11.9%. “The growth in this market is mainly attributed to the increasing incidence of intolerance for animal proteins, nutritional benefits offered by plant-based food, increasing vegan population, and venture investments in plant-based food.” In Asia, for example, demand for plant-based food is forecast to grow by up to 200% over the next five years thanks to “consumer values around health, taste, and sustainability,” as Food Ingredients First. “We are about to see a dramatic increase in demand for plant-based alternatives to meat which food businesses need to start preparing right now,” says Michelle Lee, regional marketing leader, APAC, DuPont Nutrition & Biosciences. With global demand for plant-based products accelerating, some of the top companies that are benefiting include Plant & Co. Ltd. (CSE: VEGN)(OTC: EURPF), Guru Organic Energy Corp. (TSX: GURU), Amazon.com Inc. (NASDAQ: AMZN) and Modern Meat Inc. (CSE: MEAT)(OTC: SUVRF).
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 is making a strategic shift from Amazon’s vendor to Seller Central in an effort to grow existing Holy Crap cereal sales in Canada and position the high-quality product that tastes greats, helps maintain a healthy gut, and makes consumers feel good inside and out for expansion to the health and wellness market in the United States.
“The important of this strategic shift should not be underestimated as Amazon’s Sellers Central will provide Plant & Co. to have greater control over our sales on the online retail giant,” said Shawn Moniz, CEO of Plant & Co. Brands. “We are building off of the recent success of growing our sales on Amazon where Holy Crap Brands increased sales over 120% in the second half of 2020 versus the same period in 2019. Through Sellers Central we will also be able to leverage Amazon’s FBA (Fulfillment by Amazon) solution for markets not easily served by our existing distribution channels. It also provides a roadmap for expansion into the largest single health and wellness market on the planet: the United States.”
Holy Crap breakfast cereal is a high-quality product that tastes greats, helps maintain a healthy gut, and makes consumers feel good inside and out. The healthy plant-based cereal contains certified organic, non-gmo, kosher and gluten free ingredients, such as hemp seed, buckwheat, chia seeds, and gluten-free oats. The tasty, nutrient-packed breakfast cereals have high levels of essential amino and fatty acids, a kick of fiber, and are free from the top 9 allergens and free from any additives like added flavors, preservatives, chemicals, color, salt, or oils.
Plant & Co. offers four distinct Holy Crap SKUs on Amazon.ca featuring single pouches. The strategic shift from Vendor to Seller Central will allow the Company to control price and inventory, expand the product assortment and SKUs, and maintain prime offers on all items. Product assortment optimization is key to the success of the cereal’s future sales by expanding offerings from single bags to include 6 and 12 pouch packages. The marketing strategy includes growing customer trials, increasing customer loyalty, while providing customer value through quantity sales.
Plant & Co. will also utilize Amazon’s fulfillment solution adding to its existing distribution channels. The combination of Seller Central and FBA provides a roadmap for expansion into the United States making expansion to the US market relatively straight forward.
The US is a significant growth opportunity with limited complexity and cost. While Amazon does not publish customer data, according to a new estimate from Consumer Intelligence Research Partners (CIRP), Amazon.com Inc. has 126 million members in its Prime loyalty program in the United States as of September 2020, with Prime members account for roughly 65% of Amazon shoppers in the most recent quarter. Brands available specifically to Prime buyers are those that utilize FBA, and, Prime customers spend more money with Amazon. The average customer spends $600 per year on Amazon, while Prime customers spend roughly $1,400 per year.
Total revenue in the breakfast cereals segment is projected to reach more than US$22 billion in 2020. Growing popularity of on-the-go breakfasts, coupled with surging demand for organic cereals and rising health awareness among consumers, are is one of the key trends accelerating market growth. Customers are still attracted to the convenience and ease of breakfast cereals, however their tastes have become more discerning and they will pay a premium for high-quality health-conscience brands. Holy Crap Brand cereals is a compelling innovation offering taste, convenience and health benefits.
Other related developments from around the markets include:
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.”
Amazon.com Inc. (NASDAQ: AMZN) plans to open its first fulfillment center in the state of South Dakota in Sioux Falls. The site, which is anticipated to launch in 2022, will create 1,000 full-time jobs with industry leading pay and comprehensive benefits starting on day one. At the new 640,000 square-foot fulfillment center, employees will work alongside Amazon robotics to pick, pack and ship small items to customers such as books, electronics and toys.
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."
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