Plant-Based Food Stocks That Are Taking Wall Street By Storm
FN Media Group Presents Microsmallcap.com Market Commentary
NEW YORK, Oct. 21, 2020 /PRNewswire/ -- Investments Continue to Pour into the Rapidly Growing Plant-Based Food Market - The demand for plant-based foods has sent the market soaring to new heights over the last year and is expected to continue upwards as consumers opt for meat and dairy-free alternatives. Ever since Beyond Meat's (NASDAQ:BYND) groundbreaking IPO last year, more and more plant-based food companies are following suit and investors are ready with their wallets. Investments into US plant-based meat, egg, and dairy companies hit a new record in 2019 and the trend has continued into 2020, with $1.1 billion of venture investments pouring in within the first six months of the year. Changing consumer needs has led meat industry giants like Hormel Foods Corp. (NYSE:HRL) and massive grocery store chains like Kroger Co (NYSE:KR) to jump on the plant-based bandwagon in a bid to gain a slice of the growing market, while companies like Archer-Daniels-Midland Co. (NYSE:ADM) are expanding their portfolio of meatless offerings. Meanwhile, pure-play plant-based company Else Nutrition (TSXV:BABY) (OTCQX:BABYF) is focused on growing its stake in the burgeoning market.
Else Nutrition is a Tel-Aviv-based plant-based food and nutrition company that has continued to take strides towards developing its brand and award-winning, globally patented products, launching into the North American market and manufacturing its products quickly and efficiently to meet expected demand.
Launching the First Fully Certified USDA Organic, Clean Label, Plant-Based Complete Nutritional Drink for Toddlers in the US
In August, Else Nutrition officially launched its plant-based complete toddler nutrition to the US market, which is being made at an infant-grade US manufacturing site and has been endorsed by a board of leading US and international nutritionists and pediatricians. A month later, the company expanded its reach by launching its toddler nutrition formula to US customers on Amazon and it couldn't have come at a better time. Amazon, which is the world's largest online retailer, saw its online grocery sales triple in Q2 2020 due to COVID-19 fears and stay-at-home orders and expects this upward trend to continue throughout Q3 and beyond as cases continue to rise.
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