Komo Plant Based Foods Inc (KOMOF)

[AgeOfReason]

A news article says their is a slow down in sales of plant-based meat market (something which Komo is not in, since it instead makes plant-based comfort foods and since it uses whole food plant substitutes for meat and dairy). Perhaps the article supports Komo's view that people who buy plant-based meats later switch over to plant-based whole foods. Perhaps Komo's approach is better after all, though I like a number of plant-based meats (but I also have some concerns about the nutritional content of plant-based meats, due to them not being whole foods and due to them containing preservatives; I also dislike their high prices per weight compared to real animal meat and to vegetables). The article (at https://www.ft.com/content/9ccf053a-e710-462f-9a8e-1dd0db13a523 ) says the following.

"The emerging plant-based meat sector slumped on Thursday after industry leader Beyond Meat missed Wall Street estimates and the owner of another leading brand downgraded its growth expectations for the category.

... After several years of dramatic growth, sales in the plant-based meat market slowed suddenly last year. In the US, a 46 per cent rise in 2020 was followed by a decline of 0.5 per cent in 2021, according to data provider Spins.

... Maple Leaf Foods, the Canadian meat group that owns plant-based meat brand Lightlife, said it had completed a review that showed consumers were not making repeat purchases because the products were not meeting expectations in terms of price, and how processed the food is.

After growing 59 per cent in 2019 and 75 per cent in 2020, industry-wide retail sales of refrigerated plant-based meat grew only 1 per cent last year, said Maple Leaf. The company said that consumers viewed plant-based meat as an “expensive novelty” leading to high trial rates but low repeat purchases. Maple Leaf forecast the plant-based meat market to grow to $6bn-$10bn in value by 2030.

“It’s clear that the category can’t be expected to grow at the spectacular rates that we saw in 2019 and 2020. Instead, we expect the category will continue to grow, albeit at a more moderate but still attractive pace of 10 to 15 per cent,” said Michael McCain, Maple Leaf’s chief executive.