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Premium Plant-Based Products Hitting Mainstream Retail Markets
Point Roberts, WA and Delta, BC - April 7, 2021 (Investorideas.com Newswire) Investorideas.com, a leading investor news resource covering functional mushrooms and plant-based food alternatives releases a special report on the numerous plant-based product launches in the US and Canada, both in traditional brick and mortar retail and online sales, featuring Rritual Superfoods Inc. (CSE: RSF) (FWB: 0RW). This growing trend speaks to the major shift in the food and beverage industry towards sustainable plant-based alternative products driven by more eco-friendly and health conscious consumerism.
Progressive Grocer reports, "The plant-based food market grew nearly twice as fast as the total U.S. retail food market, which increased 15% in 2020 as the pandemic closed down restaurants and consumers stockpiled food while hunkering down at home. Fifty-seven percent of households now buy plant-based foods, up from 53% in 2019. The data, which PBFA and GFI commissioned from wellness-focused data technology company SPINS, was customized to target only plant-based products that directly replace animal-based products."
Rritual Superfoods Inc. (CSE: RSF) (FWB: 0RW), a functional superfood company that creates plant-based elixirs which support immunity, focus and relaxation, recently announced that the Company's premium brand of functional superfoods will launch in Rite-Aid stores throughout the USA in Q2 and Q3.
"This first national retail rollout is a major achievement for the Rritual brand. It validates both supply and demand for the category, specifically our product quality and the rapidly growing interest of consumers in functional superfoods," said Mr. David Kerbel, Rritual Superfoods CEO.
"We are striving to not only lead this emerging category, but to define it. A significant part of achieving that goal is accomplished through gaining the trust and support of consumers through top tier retailers such as Rite-Aid."
Rritual has scaled its production to meet growing demand, with a strategic sales and marketing focus aimed at major retailers across the USA in 2021. The Rite-Aid rollout will be phased toward reaching 1000 retail stores, in addition to Rite-Aid's ecommerce platform. Rritual's retail strategy is disruptive. The Company is aiming at national retailers rather than regional rollouts in order to gain market share and category defining leadership.
Rite-Aid will carry Rritual's full product line, including:
- Chaga IMMUNE with adaptogens Eleuthero Root and Astragalus to support healthy immune function and well-being all year round.
- Lion's Mane FOCUS with adaptogens Rhodiola Rosea Root and Bacopa to support brain health and cognitive function.
- Reishi RELAX with adaptogen Ashwagandha and cacao to help the body adapt to stress.
Rritual product offerings are all USDA-certified organic and are a caffeine-free option that can be mixed with other beverages or enjoyed by itself. Rritual's proprietary Immune-Synergy Six Mushroom Blend is the only functional health product on the market that contains a daily prebiotic blend which nourishes a healthy gut microbiome and facilitates balanced digestive function.
David Kerbel, CEO of Rritual Superfoods Inc. in an interview recently discussed Rritual Superfoods line of functional mushroom and adaptogen formulations, as well as the growing 'Superfoods' and 'Functional Foods' categories as a whole.
According to Grandview Research, "The global superfoods market size was estimated at USD 137.0 billion in 2018 and is projected to ascend at a CAGR of 7.9% over the forecast period. Growing consumer interest in a healthy diet and wellness benefits has led to a thriving food & beverage industry in the recent past and this trend is expected to continue over the forecast period. This, in turn, is projected to propel the demand for superfoods in the coming years."
ELSE NUTRITION HOLDINGS INC. (TSXV: BABY) (OTCQX: BABYF), a plant-based baby, toddler and children's nutrition company, is also upping distribution, having recently announced that it has signed a distribution agreement with US-based Imperial Distributors of Worcester, Massachusetts. Imperial is recognized throughout the Northeast, South Atlantic and Midwest United States as a leader in distribution, merchandising and category management.
"Partnering with Imperial distribution offers a regional view and a strategic relationship with several regional mid-tier and key accounts in New England and beyond. They're indeed a distribution leader throughout the Northeast and Mid-Atlantic states," said Hamutal Yitzhak, CEO and Co-Founder of Else Nutrition. "We look forward to Imperial playing a key role in our growth in this core region, commencing with Big Y in April of this year," she added.
This follows their previous announcement of rolling out its Plant-Based Complete Nutrition for Toddlers at over 100 Raley's, Bel Air Markets and Nob Hill Foods locations in Northern California and Nevada in April 2021.
"This marks excellent distribution growth for our organization. We've decided to strategically secure rapid coverage in the Northern California and Nevada regions, and this listing with Raley's greatly advances us on this path," said Ms.Yitzhak. "Raley's maintains a family-owned culture with a true understanding and commitment to the customer experience. They have championed health and wellness for generations and are helping to change the way people eat. This aligns with the Else mission of bringing sustainable, better-for-you, balanced nutrition solutions and touching lives in a meaningful way."
Eat Beyond Global Holdings Inc. (CSE: EATS) (OTC: EATBF), the first fund in Canada focused on investing in global companies that are developing and commercializing innovative food products including alternatives to meat, seafood, eggs, and dairy, recently announced the success of its recent investment in The Very Good Food Company Inc. (TSXV: VERY) at a price of $0.25 per Common Share.
The Very Good Food Company Inc. is an emerging plant-based food technology company that designs, develops, produces, distributes and sells a variety of plant-based meat and other food alternatives. Their mission is to employ plant-based food technology to create products that are delicious while maintaining a wholesome nutritional profile and to date they have developed a core product line under The Very Good Butchers brand.
VGF completed its initial public offering including the full exercise of the over-allotment option by the agent for the Offering, Canaccord Genuity Corp., led by Portfolio Manager and Investment Advisor, Cary Pinkowski, resulting in the issuance of 16,100,000 common shares of the Company at a price of $0.25 per Common Share for gross proceeds of $4,025,000.
"We are thrilled to see The Very Good Food Company, another major plant-based IPO, mirroring the success of Beyond Meat. There is clearly extraordinary confidence in this market, and enormous demand for plant-based products," said Patrick Morris, CEO of Eat Beyond. "We are excited to continue investing in this growing sector and continuing to be a part of more success stories like this one."
The VegTech™ Index is the first index of its kind and includes leading publicly traded plant-based companies. The goal is to provide a fiscal scoreboard using market cap-weighted performance to show the overall financial health and strength for the sector.
"Investors can always look at the Dow Jones or NASDAQ for a look at general market numbers and averages for major companies," Morris said. "But this new index is a great opportunity for investors and analysts to be able to access a snapshot of the growing plant-based and alternative food market specifically."
NEXE Innovations Inc. (TSXV: NEXE) (OTC: NEXNF), a leader in plant-based compostable technology and advanced materials manufacturing based in British Columbia, Canada, is going a slightly different route to market, having recently announced launching its highly anticipated Xoma Superfoods eCommerce store.
The company has developed one of the only patented, fully compostable, plant-based, single-serve coffee pods for use in leading single-serve coffee machines. The proprietary NEXE pod is designed to reduce the significant environmental impact caused by single-serve pods, >40 billion of which are discarded every year. With over $30M raised to date from equity and government funding and over five years of R&D, NEXE is well-positioned to meet the growing demand for environmentally friendly and sustainable products in the single-serve coffee sector and beyond
Xoma Superfoods is NEXE's in-house coffee and superfoods brand, launching with a line of high-quality coffees packaged exclusively in single serve, fully compostable, plant-based NEXE pods. XOMA capsules work in Keurig single-serve brewing systems and are now available in 12-count.
"Xoma products provide convenience, making it easy to integrate more superfoods into your diet without creating additional waste, or making a mess of your kitchen," said Ash Guglani, President of NEXE. "We have spent five years developing our NEXE pod, and we are proud to launch it into the market with our Xoma Superfood coffees."
"This is a major milestone for NEXE and Xoma. Our initial pilot launch of our 3-count packages of Xoma Coffee fortified with MCT sold out within 24 hours," he continued. "Our customers have patiently waited for this day, and we are very excited to fully launch."
NEXE pods are fully compostable and meet international standards for certification as compostable materials, without the need to disassemble the pod after use. Over 40 billion petroleum-based single-serve coffee pods end up in landfills around the world every year, where they can take hundreds or thousands of years to break down.
According to one recent article, "The plant-based category has evolved to the point that retailers can't limit who they consider the plant-based shopper," said Dawn Vanlandingham, head of retail for SPINS. "They should now assume everyone is a potential plant-based buyer and educate them enough to see the possibilities. Between the innovation in plant-based products and the gradual return to less restrictive shopping measures, 2021 offers many opportunities for retailers to appeal to more customers and expand their plant-based offerings."
Looking at how this translates to investing, Good Food Institute reported, "This strong growth in retail sales is a welcome compliment to equally impressive growth in investment dollars in the plant-based space. A record $2.1 billion was invested in plant-based food companies in 2020, highlighting growing interest in plant-based foods from both consumers and investors."
Whether you are looking at functional mushrooms, plant-based meat and dairy alternatives, medicinal mushrooms and cannabinoid medications, fungal soil and waste remediation or even hemp and plant-based textiles and plastics, it is clear the age of plants is upon us.
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