Major Brands Play a Role in the Growing Momentum Behind Plant Based Alternatives
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)
- For example, Taco Bell, Chipotle, Jamba Juice and even Starbucks are all now offering plant-based food on their menus.
- 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.
- Units can be purchased through the Planet Based Foods website for $19.00 each plus $10.00 shipping, and will be available nationwide.
- Tyson Foods, Inc.(NYSE: TSN) Raised & Rooted brand announced last year, launch of its new Plant Based Bites.