Plant-Based Protein Food Companies Not Only Targeting Vegans, but Meat-Eaters Too

FN Media Group Presents USA News Group News Commentary

VANCOUVER, BC, Sept. 21, 2021 /PRNewswire/ -- USA News Group  -  Competition is ramping up between manufacturers of plant-based "fake meat" products for a market share that goes beyond vegetarians and vegans, but also into the predominant meat-eating consumer base. Analytical market research is projecting that the plant-based protein market is set to reach $21.23 billion by 2027, growing at a CAGR of 9.5% along the way. For many consumers the gap in both taste profiles, and price points is closing, as plant-based proteins are becoming more and more competitive, with new products coming out from large fast-food chains like Yum! Brands, Inc. (YUM) and McDonald's Corporation (NYSE:MCD), which work well with plant-based proteins and CPG specialists such as Beyond Meat, Inc. (NASDAQ:BYND), Conagra Brands, Inc. (NYSE:CAG), and newly-public Nepra Foods (CSE:NPRA).

Nepra Foods (CSE:NPRA) provides proprietary ingredients and processes to major national brands, and launching its own products directly to consumers. Having already established a network for supply chain management and distribution around the world, Nepra Foods hit the ground running following its recent IPO.

At the forefront of Nepra's offerings are the company's hemp-based protein products, backed by a proprietary ingredient called THP^TM (Textured Hemp Protein)—all of which are Non-Soy, Non-GMO, Allergen-Free and Gluten-Free.

The company has decades of experience in the industry, having successfully helped many national brands take products from concept to market with new ingredients and technical know-how.

Their multicategory, plant-based foods that include frozen meals, plant-based dairy, salty snacks, and meat alternatives that are high in protein and fiber, lower in carbohydrates, and are truly nutritious.

Among the company's management are Co-Founder, CEO & Director David Wood, and Chief Innovation Officer & Director Chadwick White, who were both involved with the success of Udi's Gluten Free Foods, which was sold to what is now Conagra Brands, Inc. (NYSE:CAG) in 2012 for US$125 million.

Another acquisition that's paying off for Conagra Brands, Inc. (CAG) is its Gardein plant-based meat brand, which generated retail sales of $170 million over the last year—up 33.5% versus two years ago.