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Wholesale Plant-Based Protein Producers Seizing Upon Market's Insatiable Appetite for Vegan Options

FN Media Group Presents USA News Group News Commentary

VANCOUVER, BC, Jan. 18, 2022 /PRNewswire/ -- USA News Group  -  The market for plant-based protein supplies is set to grow at a near-double-digit pace over the next 6-7 years, according to a new report from Meticulous Research. Accelerated by a CAGR of 9.7%, the plant-based protein market is expected to hit $23.4 billion by 2028. Another report from Market Research Future goes even further, predicting the market will grow by 10.2% CAGR through to close to $38 billion by 2027. While much of the media attention has focused on product launches, such as new vegan-friendly menu items from popular chains such as McDonald's, KFC, and Chipotle, the biggest upcoming food trends predicted for 2022 and beyond is that of 'mindfulness', which means more stellar sales to come for wholesale companies producing the ingredients used in a lot of these products, including Nepra Foods (CSE:NPRA) (OTC:NPRFF), Archer-Daniels-Midland Company (NYSE:ADM), Conagra Brands, Inc., Ingredion Incorporated (NYSE:INGR) and DuPont de Nemours, Inc. (NYSE:DD).

Led by a team of many of the same people who grew the popular gluten-free Udi's line of products, Nepra Foods (CSE:NPRA) (OTC:NPRFF) exited 2021 on a few high-notes, including through an oversubscribed IPO, and 150% year-on-year growth going into 2022.

Now the plant-based, allergen-free food manufacturers have had a chance to reflect on Nepra's latest successful year, and its 5th year in a row marking revenue growth.

"Our underlying wholesale ingredient business continues to show aggressive year-over-year growth in 2022," wrote Nepra CEO David Wood. "While the industry, in general, has been plagued by logistical challenges and heightened costs, Nepra Foods' supply chains have proven to be resilient and largely unimpacted."

Key to Nepra's strategy is differentiating itself with its proprietary Textured Hemp Protein (or THPTM). Marketed as a game changer for the plant-based food industry, THP deviates from most other textured vegetable proteins that are derived from peas, soybeans, wheat, and other plant sources. According to the company, it's been noted that many of these can trigger food allergies, or have an "off" flavor and texture.

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Nachrichtenquelle: PR Newswire (engl.)
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Wholesale Plant-Based Protein Producers Seizing Upon Market's Insatiable Appetite for Vegan Options FN Media Group Presents USA News Group News Commentary VANCOUVER, BC, Jan. 18, 2022 /PRNewswire/ - USA News Group  -  The market for plant-based protein supplies is set to grow at a near-double-digit pace over the next 6-7 years, according to a …

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