Feb 01, 2022 (Baystreet.ca via COMTEX) -- The global plant-based boom is just getting underway. All as millions of people seek out plant-based meats, fish, cheeses, dairy, and even desserts. Helping, “71% of U.S. adults reported trying at least one plant-based product in 2021, according to Datassential, and 48% look for products labeled ‘plant based,’ per the Hartman Group, while 67% have tried non-dairy milk, says Morning Consult, citing that one in three consumers drinks it at least weekly,” as reported by AdWeek.com. Even Unilever just said, “every single country in the world is shifting towards more plant-based diets,” as quoted by Totally Vegan Buzz. No surprise then that Credit Suisse says we could be looking at a $1.4 trillion market by 2050. With growth showing no signs of slowing, keep an eye on companies such as Komo Plant Based Foods /zigman2/quotes/214577525/delayed CA:YUM -14.29% (otcqb:KOMOF), Goodfood Market Corp. /zigman2/quotes/203921997/delayed CA:FOOD +39.44% /zigman2/quotes/205636823/delayed GDDFF +42.80% , Tattooed Chef Inc. /zigman2/quotes/203595462/composite TTCF +7.09% , Blender Bites Limited /zigman2/quotes/229720596/delayed CA:BITE -1.74% , and Hain Celestial Group /zigman2/quotes/201324629/composite HAIN +0.96% .
Look at Komo Plant Based Foods /zigman2/quotes/214577525/delayed CA:YUM -14.29% (otcqb:KOMOF), For Example
Komo Plant Based Foods Inc. announced that within 10 months of the launch of its direct to consumer eCommerce platform, it has received 200 reviews with a five out of five star consumer rating.
“Our plant-based comfort foods blend the right amount of real, wholesome cooking with the science and technology of developing innovative plant-based recipes to deliver hearty, satisfying food experiences,” says Komo CEO William White. “We put each of our meals through multiple tests to make sure each one meets our standards for taste, food satisfaction, and scalability. Our eCommerce platform provides us a direct relationship with consumers and allows us to carefully monitor every touchpoint of the consumer journey, giving Komo a competitive advantage over retail-only brands.”
Komo’s consumer reviews, featured at https://komocomfortfoods.com/pages/reviews , consistently speak to the great taste and convenience of Komo’s frozen plant-based meals. Consumers also comment positively on their customer experience of ordering products and receiving home delivery.
“Delicious! Convenient and delicious - - the cashew bechamel and mushroom/lentil ragout pair so well together. Altogether you can tell a lot of care and love put into making this vegan meal. Highly recommend,” - Ellen W., Verified Buyer, January 23, 2002.
“The best meal I never cooked. Fast, healthy, and absolutely delicious. This food sells itself,” - Caroline C., Verified Buyer, January 21, 2022.
In March 2021, Komo launched its Shopify platform using apps to enhance digital marketing and support a great online shopping experience. Post-launch, Komo added applications Privy, Klaviyo and ReCharge to enable site pop-ups, email marketing, and subscription packages. The launch of Yotpo enabled automatic review generation where emails are sent out to customers automatically 7 days after their initial purchase, along with a text message. The Yotpo application collected approximately 240 consumer reviews over the past ten months, allowing Komo to assess consumer pain points and discover promising product development opportunities. Last summer Komo used feedback from consumers and other data to support the launch of the Komo Plant-Based Meal Helpers [TM] line of frozen plant-based foods - versatile meal starters to allow the creation of plant-based dishes at home. Komo plans to use feedback from Yotpo for future launches planned for this year.
In addition to being sold through eCommerce, Komo products are sold through a distribution network of online and brick-and-mortar grocery, convenience, and natural retailer channels.
Other related developments from around the markets include:
Goodfood Market Corp., a leading Canadian online grocery company, delivering fresh meal solutions and grocery items, announced financial results for the first quarter of Fiscal 2022, ended December 4, 2021. “We are pleased with the progress the Goodfood team has made against both the improvement of our near-term operational performance and the execution of our on-demand grocery and meal-solutions rapid delivery growth driver. Comparing our first quarter 2022 financial performance to the fourth quarter 2021 in which we saw for the most part COVID-19 restrictions lifted, net sales of $78 million were stable with close to a million orders delivered in the quarter and positive momentum in order rates and Active Customers [(1)] versus the summer lows,” said Jonathan Ferrari, Chief Executive Officer of Goodfood. “The quarter saw the beginning of an expected progressive improvement to our Adjusted EBITDA margin [(1)] compared to fourth quarter of 2021, driven by 110 basis points gross margin improvement against the backdrop of inflationary pressures, as well as an SG&A cost containment effort that led to an 8% reduction in our SG&A spend versus the fourth quarter of 2021. Lastly, we are also pleased with the progress made on our reorganization initiative that once completed will generate $11-$13 million of annualized savings compared to the fourth quarter of 2021.”
Tattooed Chef, Inc., a leader in plant based foods, announced that on December 21, 2021 it completed the acquisition of Belmont Confections, Inc., a private label co-manufacturer of snack bars, for approximately $18 million in cash and stock, subject to a customary adjustment based on working capital at closing. Belmont specializes in the development and manufacturing of a variety of snack bars. The 47,000 square foot facility in Youngstown, Ohio expands Tattooed Chef’s manufacturing capabilities into a new category and accelerates the Company’s expansion into ambient and refrigerated products. The Company plans to launch new Tattooed Chef branded plant based bars in 2022.
Blender Bites Limited, a Canadian company involved in the development and marketing of a line of premium, organic and plant-based pre-portioned frozen functional foods, announced record number of purchase orders received in December 2021 . Blender Bites is pleased to announce that during the month of December 2021, the Company has received purchase orders totaling CA$495,000. This is an historic record for the number of purchase orders received by the Company in any given month and represents an increase of over 900% in total value of purchase orders compared to the same month in 2020. The total number of purchase orders received in December 2021 alone, also represents a 75% increase over the highest number of purchase orders received in any single month in the Company’s history, close to doubles the number of purchase orders received in the previous month of November 2021 and is equivalent to 70% of the combined total of all orders received in the previous three-month period of September, October, and November 2021.
Hain Celestial Group Inc., a leading organic and natural products company with operations in North America, Europe, Asia and the Middle East providing consumers with A Healthier Way of Life™, will conduct a conference call to discuss its Second Quarter Fiscal Year 2022 financial results on Thursday, February 3, 2022 at 8:30 AM Eastern Time. Investors interested in participating in the live call can dial 877-407-9716 from the U.S. and 201-493-6779 internationally. The call will feature remarks by Hain Celestial's management team. The call will be webcast and can be accessed on Hain Celestial's website.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Komo Plant Based Foods has paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares Komo Plant Based Foods Please click here for full disclaimer.
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