Major Brands Play a Role in the Growing Momentum Behind Plant Based Alternatives

FinancialBuzz.com News Commentary

NEW YORK, April 14, 2022 /PRNewswire/ -- The plant-based foods market is diverse and segmented into several major categories including dairy alternatives and meat substitutes. This relatively new market is also highly competitive, with the top ten key players making up just about 16% of the total market in 2020. A major driver for growth in the plant-based market has been the number of successful partnerships between food manufacturers like Beyond Meat, Impossible Foods, and Oatly and between restaurants and fast-food chains. As a result, according to data provided by Market Research Future, the plant-based food market is expected to register a CAGR of 10.20% on its way to approximately USD 38 Billion by 2027. Planet Based Foods Global Inc. (CSE: PBF) (OTC: PBFFF), The Very Good Food Company Inc. (NASDAQ: VGFC), Farmmi, Inc. (NASDAQ: FAMI), Tyson Foods, Inc. (NYSE: TSN), Oatly Group AB (NASDAQ: OTLY)

International fast-food restaurant chains have successfully adapted to the new demand from consumers for plant-based alternatives. For example, Taco Bell, Chipotle, Jamba Juice and even Starbucks are all now offering plant-based food on their menus. These companies now offer burger, sausage and milk-alternatives, which encourage consumer habits to adjust to plant-based food products. Julie Emmett, PBFA's Senior Director of Marketplace Development, explained that "more and more consumers are turning to plant-based options that align with their values and desire to have a positive impact on personal and planetary health. The data shows that, despite the challenges of the past two years, retailers and foodservice providers are meeting consumers where they are by partnering with brands across the entire store to expand space, increase assortment, and make it easier than ever to find and purchase plant-based foods."

Planet Based Foods Global Inc. (CSE: PBF) (OTCQB: PBFFF) just announced breaking news regarding, "its newly launched e-commerce platform that features a selection of Planet Based Foods' popular vegan options for purchase.

Powerfully formulated using superfood hemp as the primary ingredient, the wide range of innovative products now listed online include The Original Burger, the Green Chili Southwest Burger, Breakfast Sausage Patties Hot and Mild, The Original Crumble, The Italian Sausage Crumble and the Variety Pack. Units can be purchased through the Planet Based Foods website for $19.00 each plus $10.00 shipping, and will be available nationwide.

\We are excited to announce the launch of our new e-commerce platform, which allows our diverse portfolio of healthy plant-based food products to be more accessible to customers than ever before,' said Planet Based Foods' President and CEO Braelyn Davis. 'E-commerce is an invaluable tool for our business to help drive brand awareness and sales, engage new and existing consumers and share our company story to a larger online audience as we continue to grow the Planet Based Foods community, and continue to deliver value to our shareholders.'

For further details about the Company and the listing transaction, please refer to the Company's listing statement at www.thecse.com as well as the Company's profile at www.sedar.com.

To view information about the Company and subscribe to automated email alerts for future news and public filings, visit the Planet Based Foods website at www.planetbasedfoods.com."

For our latest "Buzz on the Street" Show featuring Planet Based Foods Global Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=n-oxBdpRKJA

The Very Good Food Company Inc. (NASDAQ: VGFC) reported in a recent operations update that the Company is temporarily lowering production throughput and headcount to manage inventory levels, and implementing initiatives such as pausing non-critical capital expenditures and lowering SG&A spending, to manage both short and long-term liquidity and to establish a path towards profitability. "As a result of the supply chain environment, we undertook certain stock safety measures to protect against stock outages," stated Mitchell Scott, CEO, and founder of VERY GOOD. "This, in conjunction with retailer reset timing delays, has resulted in inventory being at levels that require us to lower production at some of our locations. This decision was made after a long and careful review of our options and will impact some of our production team members. We are thankful for their contributions."

Farmmi, Inc. (NASDAQ: FAMI) reported last month that it won another repeat customer order for its dried black fungus and dried mushrooms. The customer will be exporting the dried black fungus and dried mushrooms to Vancouver. Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "We continue to focus on driving across the board growth with our upward trajectory led by our high-quality products and farm to table distribution. Our team is really doing a great job supporting our customers worldwide, as we help them to secure the quantities they need and to navigate the ongoing logistics situation. This is an exciting time for us and we are working hard to capture an increased share of the opportunities in front of us."

Tyson Foods, Inc. (NYSE: TSN) Raised & Rooted™ brand announced last year, launch of its new Plant Based Bites. The snackable bites meet the growing demand and desire for plant-based products with delicious taste and fan favorite flavors.  "Our new plant-based bites deliver the taste that will wow taste-buds in a better-for-you alternative," said David Ervin, vice president of marketing, Raised & Rooted. "We are excited to continue to grow our offerings and provide people with the alternative protein options they seek for meal or snack-time with beloved flavors."

Oatly Group AB (NASDAQ: OTLY) reported back in December a major collaboration with Deutsche Bahn (DB) in Germany: beginning 1 January 2022, the Oatly Barista Edition will be available in the on-board catering of ICE and Intercity trains as the first ever plant-based milk alternative offering for consumers. "At Oatly, we want to drive a more sustainable food system, because this is essential not only for our health, but especially for the climate. To achieve this, we need to make the switch to a more plant-based diet as easy as possible by making tasty plant-based products available to more consumers. We are proud that Deutsche Bahn is introducing Oatly as the first ever plant-based milk alternative in their on-board catering. And we hope that many other companies follow this example," explains Tobias Goj, General Manager Oatly Germany.

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