Investors are Salivating Over the Multi-Billion-Dollar Potential of Plant-Based Food
Houston, Texas--(Newsfile Corp. - April 1, 2020) - Plant based foods has become a booming business.
In fact, demand has investors salivating. All as retail sales of meat, dairy, eggs, and seafood products hit $5 billion in 2019, an increase of more than 11% year over year, says the Plant Based Foods Association and the Good Food Institute, as noted by Meat Poultry. Better still, UBS analysts say the alternative meat market alone 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.
"Clearly, plant-based is a lasting trend that is gaining power over time," said Caroline Bushnell, The Good Food Institute's (GFI) associate director of corporate engagement, as quoted by Progressive Grocer. "We see a steady rise in plant-based products year over year across regions, which indicates that this is not a bubble or a fad, but a real change in consumer behavior. This is a tipping point, with so much product innovation yet to hit the market.
To keep up with demand, major food retailers are offering plant-based foods, including KFC, Subway, Burger King, McDonald's, and Pizza Hut. That, as more than 55% of Americans have added plant-based foods to their diets, according to Food Business News. Better, according to an NBC News report, market research firm "NPD found that 16 percent of Americans say they 'regularly' use plant-based alternatives to meat and dairy products, such as almond milk and meat substitutes.
One of the Top Companies Benefiting is Else Nutrition Holdings Inc.
Else Nutrition Holdings Inc. (TSXV: BABY) (OTCQB: BABYF) has plans to launch its plant-based toddler nutrition product in the US in Q2-2020, and continues working hard on several fronts to achieve this target. The Company had planned to soft launch the products at Natural Food Expo West, during the first week of March, however, given the pandemic, the event was cancelled.
However, in preparation for the event and planned launch, Else completed a comprehensive branding process which includes product packaging, social media channels and a new website that features an online store. The online store will open for pre-orders in the coming weeks.
The new website can be visited at: www.elsenutrition.com
In addition, the company will begin sending product samples to consumers, influencers and retail partners in conjunction with a social and digital marketing campaign for the launch. Additionally, the Company is actively engaged with potential retail brokers and distributors that have a track record of getting novel products onto retail shelves. The initial geographical focus of these efforts is Los Angeles and New York City. While Q2-2020 remains the targeted launch date the Company will closely monitor the global pandemic and resulting market conditions to ensure a successful product launch.
For more information on Else Nutrition Holdings Inc. visit https://elsenutrition.com