NEW YORK, Sept. 23, 2021 /PRNewswire/ -- The verdict is out - Americans love fake meat. During the COVID-19 pandemic, US menus featured vegan meat 1,320% more than pre-pandemic days, with 9.2% of restaurants in the US now serving vegan meat. Restaurant chains like McDonald's are bringing plant-based foods to UK consumers as well, with the recent introduction of the McPlant Burger in collaboration with Beyond Meat. With restaurants and consumers alike embracing a plant-based diet, the market is projected to be worth $162 billion by 2030. The growing demand and the prospects for growth in the market are fueling innovations and partnerships that positions companies like Eat Well Investment Group Inc. (CSE: EWG) (OTCPK: EWGFF), Yum! Brands (NYSE: YUM), PlantX (CSE: VEGA) (OTCQB: PLTXF), Beyond Meat, Inc. (NASDAQ: BYND) and Sprouts Farmers Market, Inc. (NASDAQ: SFM), all stand to benefit from the plant-based market boom.
Eat Well Investment Group (CSE:EWG) (OTC:EWGFF) has completed the previously announced name change. The company began trading under the new name and symbol at market open on September 2.
The name change represents Eat Well's focus and path in owning a significant share of the global plant-based foods market. The company currently holds a portfolio of agri-business, food tech, and plant-based foods investments which the company forecasts will generate an aggregate approximate of $60 million in revenue.
In addition to its impressive portfolio and proven management team, Eat Well Investment Group's proteins, starch, and fibers are common ingredients in most foods, snacks, and beverages. The company has its sights set on bigger growth through further complementary investments. Eat Well Investment Group has launched awareness campaigns in North America and has begun similar campaigns in the European market.
In addition to expanding its investment portfolio, Eat Well Investment Group is tapping into the expertise of industry experts such as His Royal Highness Prince Khaled bin Alwaleed bin Talal Al Saud of Saudi Arabia who is joining the company as a strategic advisor.
Prince Khaled is a pioneer in plant-based food investment and runs initiatives related to food security, climate change, and human and animal welfare. Prince Khaled who is also the CEO of KBW Ventures has made significant investments in the plant-based food and alternative protein market through the company, consequently developing key global contacts in the private and public sectors.
"This past year, Eat Well Group's portfolio companies sold over 26,000 tons of pure plant-based protein to over 35 countries worldwide, offering better nutrition, and greater food security. The environmental benefits alone save more than 89,000 metric tonnes of methane, which is a leading contributor towards global warming. I am delighted to be a part of the mission to put healthier living in reach of more people," noted Prince Khaled.
To learn more about Eat Well Investment Group, click here.
Companies Introduce Products to New Markets
McDonald's is launching the McPlant burger in collaboration with Beyond Meat in select locations in the UK and Ireland and has been certified by the UK's Vegetarian Society. At the same time, Yum! Brands (NYSE:YUM) announced a strategic partnership with Beyond Meat to co-create plant-based protein menu items that will only be available at KFC, Pizza Hut and Taco Bell over the next several years.
PlantX (CSE:VEGA) (OTC:PLTXF) recently released its Q1 2022 financial results, indicating a revenue of $4,089,705, an increase from Q1 2021 revenue of $3,956,815. In the release, PlantX founder reiterated the company's commitment to invest its efforts and resources strategically to grow the company while meeting the growing demand for plant-based products. Shortly after this financial release, PlantX appointed Mr. Fred Leigh as the director and Executive Chairman of the Board of Directors of the company. Mr. Leigh previously served on PlantX's Advisory Board and has forty years of experience in capital markets and business development experience.
The Very Good Food Company Inc. (TSXV:VERY) (OTC:VRYYF), a leader in plant-based food technology announced that it would be expanding its product line, The Very Good Butchers product into Sobeys Inc. retail network. The products will be available at Rachelle Bery health food stores, but consumers can also purchase The Very Good Butchers line online from Voila by Sobeys, an online grocery and home delivery service in the greater Toronto area. The company also expects to bring its products to more consumers through distribution deals with additional stores. The Very Good Food Company expects further distribution expansion in Q1 2022.
As one of the biggest brands in the plant-based foods space, Beyond Meat, Inc. (NASDAQ:BYND) has become somewhat of a household name. It came as no surprise then when Beyond Meat partnered with Pepsi Co. on a new joint venture called the PLANet Partnership to release new plant based snacks and drinks. This growing market is ready now though, and the companies are pushing the project along quickly, with Pepsi Co.'s CEO stating on CNBC that the company is aiming for an early 2022 release date. Beyond Meat also seems to have inspired Pepsi Co.'s new direction with its Pep+ initiative that aims to drive the company's operations with sustainability at the forefront.
Sprouts Farmers Market, Inc. (NASDAQ:SFM) is a leading supermarket chain offering natural and organic foods, produce, bulk foods, and more. The company has one of the fastest growing retail footprints in the country, and continues to open new locations and expand product availability. Sprouts focuses on wholesome, innovative products that include organic, plant-based, and gluten-free. Sprouts has made some key changes in management, recently appointing Lawrence "Chip" Molloy as chief financial officer to succeed Denise Paulonis. Molloy will step down from the Sprouts board of directors, where he has served since 2013, when he takes his position as CFO. Molloy brings critical experiences as CFO of major brands such as PetSmart, Inc. and Under Armour Inc. to the Sprouts team.
The market for plant-based products does not seem to be slowing down. As more consumers become conscious about their health and the environment, companies producing sustainable plant-based proteins such as the Eat Well Investment Group (CSE:EWG) are seeing huge gains and growth potential.
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