Global Plant-Based Food Market Expected to Reach a Market Value Of $37.9 Billion by 2027

PALM BEACH, Fla., Jan. 5, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - The outbreak of COVID-19 has brought a positive impact on the plant-based food market due to the increased consumption of plant-based nutrition to boost immunity. The market witnessed rise due to the reluctance to consume meat owing to the outbreak and the demand for plant-based food rose significantly. The e-commerce platform is likely to play a salient role in driving the market growth in the COVID-19 era. The market witnessed a rise in demand for food products such as beans, legumes, and others. A report from Market Research Future (MRFR) evaluates that the Global Plant-Based Food Market is expected to acquire a market value of USD 37,981.6 Million while recording a CAGR of 10.20% by 2027. Plant-based food refers to food such as legumes, fruits, vegetables, nuts, grains, and others, that are derived from plants.  The plant-based market is likely to procure significant opportunities of expansion in developing countries in the coming time.    Active Companies in the markets today include Plant Veda Foods Ltd. (OTCPK: PLVFF) (CSE: MILK), Tyson Foods (NYSE: TSN), McDonald's Corporation (NYSE: MCD), Yum! Brands, Inc. (NYSE: YUM), Conagra Brands, Inc. (NYSE: CAG).

The report said: "The growing demand for plant-based food due to increasing awareness about veganism is anticipated to be a significant factor that can drive the global market during the forecast period. The rising cases of lactose intolerance across the globe is likely to enhance demand for non-dairy products, which is predicted to increase demand for such food, thereby benefitting the industry in the coming time. Apart from these, the rising concern towards the protection of the environment and increasing efforts to reduce carbon footprint are other salient factors that is likely to drive the industry in the analysis timeframe. In addition, the increasing initiatives to incorporate innovation in food products can also aid in strengthening the market expansion in the coming time. In the recent most example, Las Vegas, in January 2021, announced that now it has a Vegan Food Bank which would offer food to the needy. Another crucial factor that is likely to positively impact the plant-based industry is the endorsement of veganism by popular actors such as Beyonce, Zac Efron, Benedict Cumberbatch, Jason Mraz, Jacqueline Fernandez, among others."

Plant Veda Foods Ltd. (OTCPK: PLVFF) (CSE:MILK) BREAKING NEWS:  Plant Veda Wraps 2021 and Expects a Prosperous 2022 - Plant Veda Recaps 2021 and Looks Towards 2022 -- Plant Veda Foods Ltd. ((the "Company" or "Plant Veda"), an award-winning dairy-alternative food manufacturer, is pleased to provide an overview of its business achievements of 2021 and its plans for 2022.

In 2021, the Company implemented its business strategies across all divisions, including distribution, manufacturing, and corporate structure. These milestones included, but not limited to, winning the Cleanchoice Award from Clean Eating Magazine and finalist for the Product of the Year Award by BC Food and Beverage Association. 

The Company was able to double its retail presence, working with institutions such as Sysco Corp., America's biggest wholesale food distributor, and the Canadian subsidiary of United Natural Foods, Inc. with its network of more than 5,000 Canadian retail stores. Additional retail stores onboarded included Nesters Markets, Buy-Low Foods, IGA and Sungiven Foods and others.

The Company launched its new product line of spoonable yogurt "PlantGurt" and a new Sampler Box available on Plant Veda's e-commerce store. Plant Veda products were also featured at both TEDMonterey and TEDWomen.

Corporately during 2021, Plant Veda commenced trading on the Canadian Securities Exchange under the ticker symbol MILK, the Frankfurt Exchange on July 2021 under the ticker symbol A3CS6B, and the OTC Markets in the USA under the symbol PLVFF. The Company strengthened its management by adding Deanna Embury, former Be Fresh CEO, and Wilson K. Lee, an award-winning restaurant entrepreneur, to its Board of Advisors. Plant Veda also appointed production and quality expert Mr. Mehdi Gohardehi as New Plant Manager.

Plant Veda secured its new home of a 25,000 square foot manufacturing facility in Delta, B.C., Canada and received its production license from the Canadian Food Inspection Agency for both the Canadian and export markets. The Company also successfully registered with the U.S. FDA for product importation.

"The Plant Veda team made remarkable progress in 2021 laying the foundations for a prosperous 2022," said Sunny Gurnani, CEO of Plant Veda. "The initial phase one expansion of our new state of the art facility will allow for an annual production capacity of 2.5M litres, enabling us to further develop our current distribution channels while establishing new ones."

"In 2022 we have defined goals, including additional product launches, completion of phase one capacity expansion, and accelerated revenue growth. We have always faced production constraints in our previous location, which limited growth. Now, thanks to the hard work of the entire Plant Veda team, 2022 is expected to allow the expansion we have been planning for. We, again, thank our team, our partners and our supporters for all their assistance in 2021. We look forward to an exciting and prosperous 2022."   CONTINUED…  Read this full release for Plant Veda Foods Ltd. at:  https://www.plantveda.com/pages/news 

Other recent developments in the markets include:

Tyson Foods (NYSE: TSN) is taking another step in its efforts to become the most sought-after place to work by providing greater access to affordable childcare for frontline workers and their families.  The company recently said it plans to build an on-site childcare and learning facility at its new Humboldt, Tennessee, poultry processing plant, and recently announced a program at its Amarillo, Texas, beef plant, to work with two local providers to provide free childcare to the children of second shift workers.

The $3.5 million Humboldt facility, expected to be operational in 2023, will support up to 100 children, five years of age and younger, and employ a staff of 18. Called Tyson Tykes, it will be operated as an early childhood learning center by KinderCare and subsidized by the company to lower the cost for Tyson team members.

A study by Center for American Progress states the national average cost of care for one child in a center amounts to about $10,000 per year, which exceeds what most families with young children can afford. Research also shows children enrolled in early childhood education programs have greater high school graduation rates, increased IQ scores, higher career earnings and are less likely to commit a crime as they enter adulthood.

McDonald's Corporation (NYSE: MCD) recently announced results for the third quarter ended September 30, 2021.  "Our third quarter results are a testament to our unparalleled scale and agility," said McDonald's President and Chief Executive Officer, Chris Kempczinski. "Our global comparable sales increased 10% over 2019, which was delivered across an omnichannel experience that is focused on meeting the needs of our customers. We continue to execute our strategic growth plan and run great restaurants so that we can drive long-term, sustainable growth for all of our stakeholders."

Third quarter financial performance was: Global comparable sales increased 12.7% (10.2% on a 2-year basis), reflecting positive comparable sales across all segments: Consolidated revenues increased 14% (13% in constant currencies) to $6,201 million; Systemwide sales increased 16% (14% in constant currencies) to $29,948 million; Consolidated operating income increased 18% (17% in constant currencies) to $2,987 million and included $106 million of strategic gains related to the sale of McDonald's Japan stock; Diluted earnings per share was $2.86. Excluding strategic gains of $0.10 per share in 2021 and $0.13 per share in 2020, diluted earnings per share for the quarter was $2.76, an increase of 24% (23% in constant currencies); and The Company declared a 7% increase in its quarterly cash dividend to $1.38 per share and also announced the resumption of its share repurchase program.

Yum! Brands, Inc. (NYSE: YUM) recently reported results for the third-quarter ended September 30, 2021. Worldwide system sales excluding foreign currency translation grew 8%, with 5% same-store sales and 4% unit growth. Third-quarter GAAP EPS was $1.75, an increase of 90% over the prior year quarter. Third-quarter EPS excluding Special Items was $1.22, an increase of 21% over the prior year quarter.

David Gibbs, CEO, said "Our third quarter results, led by record-breaking unit development and sustained momentum in digital sales, are a testament to the strength of our Brands and the unmatched commitment and capability of our best-in-class franchise partners. I am proud that each of our global divisions contributed to delivering 760 net-new units in the quarter. Our 5% same store sales growth for the third quarter, or 3% same-store sales growth on a 2-year basis, demonstrates the resilience of our diversified global business model despite the headwind of the Delta variant in certain key markets.

Conagra Brands, Inc. (NYSE: CAG) recently announced that its board of directors approved a quarterly dividend payment of $0.3125per share of CAG common stock to be paid on March 2, 2022 to stockholders of record as of the close of business on January 31, 2022.

Conagra Brands, Inc., headquartered in Chicago, is one of North America's leading branded food companies. Guided by an entrepreneurial spirit, Conagra Brands combines a rich heritage of making great food with a sharpened focus on innovation. The company's portfolio is evolving to satisfy people's changing food preferences. Conagra's iconic brands, such as Birds Eye®, Marie Callender's®, Banquet®, Healthy Choice®, Slim Jim®, Reddi-wip®, and Vlasic®, as well as emerging brands, including Angie's® BOOMCHICKAPOP®, Duke's®, Earth Balance®, Gardein®, and Frontera®, offer choices for every occasion. 

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