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Baystreet Staff - Tuesday, October 19, 2021
The $74.2 Billion Plant Based Boom Investors Should Not Ignore
There’s massive demand for plant-based foods. So much so, the market could be worth up to $74.2 billion by 2027, according to Research and Markets. By 2030, according to Fortune, sales are expected to increase five-fold by 2030. All as millions adopt healthier, meat-free lifestyles. Even Tyson, Smithfield, Perdue, Hormel, and Nestle are all jumping on plant based bandwagon. That’s a powerful catalyst for companies, such as Komo Plant Based Foods (CSE:YUM) (OTC:KOMOF), ...
Look at Komo Plant Based Foods (CSE:YUM)(OTC:KOMOF)
Komo Plant Based Foods Inc., a premium frozen plant-based food company, is pleased to announce that it has successfully ramped up production through its new co-manufacturing partner and completed fulfilment last week of purchase orders for all four of its distributors.
This shipment of products have been produced with newly updated, retail-ready packaging and refreshed formulas. Distributors have picked up the products for delivery to new and existing retail locations. With last week’s orders and delivery of 1,788 kilograms (approximately 4,000 pounds) of product, Komo expects a substantial increase in revenues for this quarter over previous quarters. New retail locations are expected to be announced over the next few months.
“We are pleased to now have the production capability to expand the distribution of our plant-based products,” says Jeffrey Ma, President and CEO of Komo’s operating subsidiary, Komo Comfort Foods. “We launched locally earlier this year with a speed to market approach locally and to validate our product-market fit in the frozen food category. With the packaging and formula revamp, we were able to incorporate the feedback from our customers over the past few months. Finding the right co-manufacturing partner was our goal for the fourth quarter of this year to help unlock our ability to supply our products. This paves the way for expansion of our direct to consumer business and retail distribution in the United States and Canada. More importantly, we continue to pursue our mission to make plant-based meals a staple at every dinner table.”
Komo currently manufactures seven plant-based frozen products, including plant-based Lasagna, Shepherd's Pie and Chickenless Pot Pie and has recently launched a new line - Komo Plant-Based Meal HelpersTM - versatile meal starters to allow the creation of many dishes at home. The company has several new products in development planned for launch later this year.
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