Undoubtedly, the fastest-growing markets today are the vegan and plant-based industries. From vegan hair care to plant-based nutrition shakes, fast-food restaurants are not falling far behind in this trend either. KFC just announced its newest addition with an Oatly (NASDAQ:OTLY) vegan ice cream all set to launch in China. McDonald's (NYSE:MCD) will also begin to offer a fully vegan burger, known as the McPlant. Following the successful launch of its plant-based nutrition shakes, Else Nutrition Holdings Inc. (TSXV:BABY) (OTCQX:BABYF) shared the results of their sales growth rates and overall high market penetration. The Very Good Food Company (TSXV:VERY) (OTCQB:VRYYF) is expanding its US retail presence, while Tattooed Chef (NASDAQ: TTCF) released four new products this past summer, further expanding plant-based meals to go.
Else Nutrition Holdings Inc. (TSXV:BABY) (OTCQX:BABYF) entered the plant-based public market not too long ago, and already it has seen successful growth this year. In a recent corporate update, the company announced high market penetration and sales growth rates on both e-commerce and retail platforms. As a market leader in the plant-based industry, the company will continue to expand and Else products will begin to pop up at Walmart.com soon, in addition to Kroger-owned online platforms. The Else team also welcomes two former Abbott executives, one which will lead the Global Medical Marketing Channels, while the other takes over as the North American Subsidiary GM. Else has also successfully listed with 1,200+ retailers, while their plant-based Complete Nutrition for Toddlers product is available for purchase at more than 850 of these retailers. Furthermore, Else continues to create a strong presence on the Amazon.com platform with monthly sales that have grown approximately 600% since their launch.
Following the successful launch of Else kid's complete nutrition shakes, the company expanded the line and introduced two new flavors: banana chia and mango chia. Else hopes to provide parents with more whole food-based options and include ingredients such as organic almonds, buckwheat, and tapioca to their new chia shakes as well as decrease sugar intake, providing a 50% less sugar content vs leading competitors in the field.
The original flavors, vanilla and chocolate, account for 25% of total sales on Else's e-store. Since launching its Plant-Based Complete Nutrition for Toddlers, which won the Good Housekeeping Parenting Award for 2021, the brand has gained national retailer support through Sprouts Farmers Market, achieved 40% quarter over quarter online revenue growth in Q2, and became the #1 Best Seller on Amazon in the fall of 2020 in the New Baby & Toddler Formula products category.
Else Nutrition will also be releasing additional Plant-Based nutritional products for babies ages six months and older later this fall.
Earlier this month, Else Nutrition also announced the launch of a new dedicated Health Care Professional (HCP) website in the US. This resource will allow over 80,000 pediatricians and HCPs in the US and Canada to educate and understand the products benefits on the market by Else Nutrition, so professionals can confidently recommend them to parents. The new Else Nutrition Health Care Professional website is live at: https://hcp.elsenutrition.com. For more information on Else Nutrition, please click here.
Plant-Based and Vegan Foods Create a Strong Presence in the Fast-Food Industry
International fast-food chain Kentucky Fried Chicken (KFC) is welcoming Oatly's (NASDAQ:OTLY) vegan ice cream to its menu across China. KFC now offers an oat milk-based ice cream in two classic flavors, strawberry and chocolate. Oatly describes the flavors as "refreshing and dense" and will be sold in single-serve containers. However, that's not the only Oatly addition to the KFC family in China. The menu also has added a latte-flavored soft serve made with Oatly coffee mix.
While KFC is busy adding vegan sweets to its menu, the most well-known fast-food chain restaurant, McDonald's (NYSE:MCD), will welcome the highly anticipated vegan McPlant burger. While the McPlant burger will only be available at select locations throughout the United Kingdom and Ireland, it will be an exciting new launch for McDonald's and the popular vegan brand Beyond Meat. Both parties entered into a three-year partnership earlier this year as a plan to bring more plant-based options globally. The McPlant burger will go live in the UK starting September 29th and then expand to more than 250 locations on October 13th.
Exploring other realms of the food industry, The Very Good Food Company (TSXV:VERY) (OTCQB:VRYYF) also brought an announcement in mid-September as it plans to expand its U.S. retail presence with Earth Fare, a health and wellness supermarket retailer. Beginning in November, the company plans to roll out its original Very Good line with The Very Good Butchers suite of plant-based alternative meat products. The roll out will also include its newest gluten-free and soy-free product line.
Plant-based food producer Tattooed Chef (NASDAQ:TTCF) recently introduced four new entree bowls, including two new flavours at Sprouts Farmers Market across 340 stores. The four new flavours include a buffalo cauliflower mac & cheese bowl, spicy thai bowl, egg roll bowl, and pesto harvest bowl. The ongoing success of the company is reflected in its Q2 financial results for 2021 as well. Tattooed Chef also reported its second quarter results last month, posting a 45.9% increase in its Q2 2021 revenue in comparison to Q2 2020.
With plant-based and vegan foods consuming a majority of the market space today, it's no surprise that fast-food chains have jumped on this trend. On the other hand, Else Nutrition (TSXV: BABY) (OTCQX:BABYF) is bringing its own innovative treat to the industry by providing parents with plant-based options for their kids. The success of their first two products speaks volumes about the ongoing demand for these foods, and the release of their chia products will only enhance the market further.
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