Demand For Plant-Based & Allergen Free Foods Are Expected To Rise As Consumers Seek Healthier Alternatives

PALM BEACH, Fla., March 3, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Allergen-free foods refer to foods that do not harm the allergic groups involved. Although most consumers do not have any adverse symptoms of food allergens, they may have serious health consequences for sensitive people. Some of the growth factors that are lining the market landscape include growing trend of veganism, increase in number of cases of food allergies, growing awareness around the topic of food allergies, and so on. Additionally, it is also worth noting here that active measures taken by top market players will add to this growth. Absolute Reports said that the global Allergen Free Food market size is projected to reach significant CAGR during 2021-2027. Another report from Future Market Insights projected that the global allergen free food market size is expected to depict a strong positive growth trajectory at 9.0% CAGR between 2020 and 2030. The FMI report said: "The demand for allergen free food is expected to rise amidst the COVID-19 outbreak as consumers are striving to maintain a strong immunity to tackle the disease. Furthermore, revival of world economy would also result in increase of per capita income, which in turn will give impetus to market," said a lead analyst at FMI. Consumers have become quite health conscious and majority of them spend a significant portion of their disposable income on fitness and well-being. They have also become increasingly aware that along with exercise, a proper diet is necessary to achieve physical fitness." Active Companies in the markets today include Nepra Foods Inc. (OTCQB: NPRFF) (CSE: NPRA), Beyond Meat, Inc. (NASDAQ: BYND), Oatly Group AB (NASDAQ: OTLY), The Very Good Food Company, Inc. (NASDAQ: VGFC) (TSXV: VERY), ELSE NUTRITION HOLDINGS INC. (OTCQX: BABYF) (TSX: BABY).

Future Market Insights continued: "Food fortification is enrichment of everyday foods with essential proteins, vitamins, and minerals. Consumer preference for such foods is a result of various factors such as rising incidence of lifestyle-related diseases and weight management. High protein foods aid in maintaining consumer health. Gluten-free bakery products and snacks comprising protein and vitamin ingredients are gaining popularity among consumers. Thus, the trend food fortification is rising, which will in turn support the expansion of the allergen free food market. Due to the increasing competition, manufacturers are focusing on product portfolio expansion and improving product traceability. Besides this, some of the leading companies are focusing on entering into collaborations with regional/local manufacturers in the growing markets."

Nepra Foods Inc. (OTCQB: NPRFF) (CSE: NPRA) BREAKING NEWS: Nepra Foods to Disrupt the Mac 'n Cheese Category with Their First-ever High Protein, Plant-Based, Gluten and Dairy-Free Alternative - Nepra Foods Inc. (the "Company" or "Nepra"), the creator of nutritious plant-based and allergen-free food, is pleased to announce the creation of its nutrient-packed plant-based macaroni and cheese heat-and-eat meals. Nepra's latest innovation will be part of its PROPASTA product lineup to be debuted March 8-12 in Anaheim, California at Natural Products Expo West – the largest tradeshow and exhibition dedicated to natural products, organic food, and medical practices.

The macaroni and cheese category is currently dominated by products containing gluten and dairy, which make them inaccessible to many people trying to cut down on carbs, or don't tolerate gluten or dairy very well, or simply don't want to eat food produced from animals. Nepra's team of food scientists set out to create a plant-based comfort food that not only tastes like traditional macaroni and cheese but is high in protein with balanced carbs. Consumers can feel good about sitting down to a bowl of mac 'n cheese knowing it is good for their bodies and good for the planet without compromising taste and texture.

"Our R&D team has outdone themselves with the recent creation of macaroni noodles and creamy cheddar cheese, all made from plants. We are taking hemp protein to the next level with our proprietary formulations that are perfectly designed for modern flexitarians who want to eat healthier but don't want to sacrifice taste," said Chadwick White, Co-Founder and Chief Technology Officer of Nepra Foods.

Consumers eager to get an early preview can visit Nepra's PROPASTA booth at Natural Products Expo West for a sample or look for PROPASTA Macaroni and Cheese to be available online and in retailers starting in Q2-2022. CONTINUED… Read this full release for Nepra Foods at: https://www.financialnewsmedia.com/news-npra/ 

Other recent developments in the markets of note include:

Beyond Meat, Inc. (NASDAQ: BYND), a leader in plant-based meat, recently reported financial results for its fourth quarter and full year ended December 31, 2021. Fourth Quarter 2021 Financial Highlights Were: Net revenues were $100.7 million, a decrease of 1.2% year-over-year; Gross profit was $14.2 million, or gross margin of 14.1% of net revenues; Net loss was $80.4 million, or $1.27 per common share. Net loss as a percentage of net revenues was -79.8%; and Adjusted EBITDA was a loss of $62.9 million, or -62.5% of net revenues.

Full Year 2021 Financial Highlights Were: Net revenues were $464.7 million, an increase of 14.2% year-over-year; Gross profit was $117.3 million, or gross margin of 25.2% of net revenues; Net loss was $182.1 million, or $2.88 per common share. Net loss as a percentage of net revenues was -39.2%; and Adjusted EBITDA was a loss of $112.8 million, or -24.3% of net revenues.

Oatly Group AB (NASDAQ: OTLY), the world's original and largest oat drink company, recently said it will report financial results for the fourth quarter and year ended December 31, 2021, on Wednesday, March 9, 2022, before the U.S. market opens. Oatly will host a conference call and webcast at 8:30 a.m. ET on the same day to discuss the results. The conference call and simultaneous, live webcast can be accessed on Oatly's Investors website at https://investors.oatly.com under "Events." The webcast will be archived for 30 days.

We are the world's original and largest oat drink company. For over 25 years, we have exclusively focused on developing expertise around oats: a global power crop with inherent properties suited for sustainability and human health. Our commitment to oats has resulted in core technical advancements that enabled us to unlock the breadth of the dairy portfolio, including alternatives to milks, ice cream, yogurt, cooking creams, and spreads. Headquartered in Malmö, Sweden, the Oatly brand is available in more than 20 countries globally.

The Very Good Food Company (NASDAQ: VGFC) (TSXV: VERY.V) has recently announced increased retail distribution, inaugural production from its Patterson Facility and upcoming innovations. The Company's Very Good Butchers products are now available in 400+ locations in 30 cities across 25 states in the USA, and 1100 locations across Canada. The growing list of retailers partnering with VERY GOOD's products include Earth Fare, Raleys, Metropolitan Markets, Deans, PCC, Harmons, Erewhon Markets, Potash, Save-On Foods, Thrifty Foods, Longo's and many more independent retailers.

In addition, VERY GOOD announced that it began producing Taco Stuffer at its Pattersonfacility in California in the fourth quarter of 2021 to meet growing sales volume driven by its expanded distribution at retail stores. VERY GOOD has plans to produce Stuffed Beast and other innovative products at Patterson later in 2022 to support the Company's North American growth strategy.

As previously announced on October 26, 2021, VERY GOOD will soon be launching Spicy mmmMeatballs, a spicy iteration of the NEXTY Award winning Mmmmm…Meatballs. VERY GOOD is also pleased to announce the introduction of two new plant-based ground meats, A Cut Above Pork, and A Cut Above Beef, which introduce VERY GOOD's offerings into a new subcategory of refrigerated plant-based meat.

ELSE NUTRITION HOLDINGS INC. (TSX: BABY) (OTCQX: BABYF) recently announced that the pre-clinical study of its Plant-Based infant formula has been accepted to be orally presented at the 9th International Conference on Nutrition and Growth (N&G), which will be held virtually between March 17^th and 19^th, 2022. Else Nutrition's infant formula pre-clinical study, part of a full clinical development program, was accepted for oral presentation at this conference, meaning that it will be presented as a part of the scientific program.

The conference brings together Pediatricians, Nutritionists, Neonatologists, experts in child development and other specialists to discuss the challenges of the interplay between Nutrition and Growth in the Pediatric age group. The Conference will enable the exchange of ideas and knowledge between the different disciplines for facilitating research and clinical interdisciplinary collaborations.

"This is a significant development for the Company, providing valuable exposure of our scientific advances, among leading experts in the field of child development," said Hamutal Yitzhak, Else Nutrition CEO & Co-Founder.

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