Shifting Trends See Global Food Giants Ramp Up Their Plant-based Offerings
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NEW YORK, Feb. 16, 2021 /PRNewswire/ -- The past few years have seen plant-based meat and dairy alternatives go from a niche product to a mainstream trend, and finally to a mainstay in the food industry. Now that the average consumer has had the opportunity to try plant-based alternatives, the market has spoken and plant-based foods are taking a much larger role in the food industry in 2021. Plant-based offerings are being added to the lineups of the world's largest food producers, multinational restaurants and cafes, and to important segments like the infant nutrition space. It's clear that the largest players in the food industry like Tyson Foods, Inc. (NYSE:TSN), PepsiCo (NASDAQ:PEP), Starbucks Corporation (NASDAQ:SBUX), and Yum! Brands, Inc. (NYSE:YUM), along with innovative plant-based foods companies like Else Nutrition (TSXV:BABY) (OTCQX:BABYF) see plant-based alternatives as something that is not going away and even as the future of the industry.
Else Nutrition Partners With Major US Retailers
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The emergence of plant-based food has given rise to a number of innovative companies. Among them is Israel-based food and nutrition company Else Nutrition (TSXV:BABY) (OTCQX:BABYF). Else has carved out its place in the plant-based market by focusing first on infant and children's nutrition, including a 100% plant-based, non-soy, and GMO-free infant nutrition formula that meets the highest standard for nutrition and industry standards to be considered a clean label product. In recent months, the company has been expanding its US retail footprint through partnerships with major North American retailers.
On February 8, Else's products hit shelves at 350 locations of US nationwide health food retailer Sprouts Farmers Market. Sprouts will soon be joined by additional other US retail chains served by KeHE Distributors. The company also successfully launched its product online last year with its initial launch on Amazon and the company's own e-store. Else was listed in Q4 2020 as Amazon's best seller new brand in the baby formula category. Else expanded its online retail presence in early January with the announcement that its products would be available on PlantX's fully plant-based e-commerce platform, and again in early February with the launch of Else products on health and wellness-focused e-commerce platform Thrive Market.