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Global Market For Plant-Based Foods Could See Fivefold Growth By 2030

Palm Beach, FL – November 2, 2021 – News Commentary –  As per a report on ‘Climate Change and the American Diet’, 94% of the people surveyed in the US expressed their willingness to consume more plant-based foods, with more than half of them also wanting to eat more plant-based meat substitutes. The factors responsible for the increased consumption of plant-based diets include the rising concerns about health, and also the increased concerns about the environment, decrease in the cost of plant-based foods, and technological developments. Shifting trend towards veganism, growing number of individuals with lactose intolerance, and benefits associated with plant-based diets are primarily driving the industry growth as is the availability of sustainable products and recyclable packaging, along with introduction of innovative products are generating lucrative prospects for the business scenario.   According to a report from Market Study Report the global plant-based food and beverage market size was valued at $42.186 billion in 2020, and is expected to reach $81.538 billion by 2028, growing at a CAGR of 8.71% during the forecast period. An article in Fortune added that The global market for plant-based foods could see fivefold growth by 2030 helped by rising demand for sustainable products, according to a Bloomberg Intelligence report.  Active Companies in the markets today include Plant Veda Foods Ltd. (OTCPK: PLVFF) (CSE: MILK),, Inc. (NASDAQ: AMZN), The Kroger Co. (NYSE: KR), Costco Wholesale Corporation (NASDAQ: COST), Sprouts Farmers Market, Inc. (NASDAQ: SFM).


The Fortune article continued saying: “Demand is increasing as companies like Beyond Meat Inc., Impossible Foods Inc. and Oatly Inc. bring alternative protein products to more restaurants and grocery stores. Legacy food companies like Tyson Foods, Kellogg Co. and Nestle SA are also competing in the space with their own plant-based burgers and milks. They’re using their scale to drive distribution and working with retailers on promotions and marketing.  Meat and dairy substitutes are marketed as healthier and more sustainable than the products from animals that they aim to replace. They’re getting popular just as consumers become more conscious of the environmental footprint of food and aim for healthier eating. Asia will also be a significant driver of plant-based protein sales because it’s vulnerable to limited food supplies, the report said.  Alternative dairy alone could double by 2030, according to the report, buoyed by the popularity of oat milk and growth in ice cream, cheese and butter alternatives.”


Plant Veda Foods Ltd. (OTCPK: PLVFF) (CSE:MILK) BREAKING NEWSPlant Veda Products Reach Urban Communities through IGA Locations in British Columbia – IGA, is a global brand of grocery stores that operates in more than 30 countries. IGA BC locations along with Fresh Street Markets will carry Plant Veda ProductsPlant Veda Foods Ltd. (the “Company” or “Plant Veda”), an award-winning dairy-alternative food manufacturer, is pleased to announce that its plant-based lassi (yogurt) products will be available in both IGA stores and Fresh Street Markets in British Columbia, Canada.


IGA is a global supermarket brand with 23 stores across British Columbia with a presence in many urban centers such as Vancouver, Enderby, Kelowna. Peachland and Gibsons. It has become, for many, the grocer of choice. IGA, a name that has been built around community, a gathering place where fresh has always been fresh. The quality of their products and their commitment to creating an inviting local shopping experience has been the cornerstone of their brand over the years.


Fresh St. Market is a supermarket chain of 6 stores in BC including the world famous Whistler, it’s a place to explore, to discover all things fresh and delicious. Fresh St. Market offers top-of-the-line products in an atmosphere where new, authentic, local, organic and exclusively sourced products become everyday shopping.


“The key to distribution is to have your products available in close proximity to your  consumers”, says Mayur Sajnani, Chief Revenue Officer of Plant Veda. “With our products now available in IGA and Fresh St. Market stores we are able to make it easier for our urban customers to conveniently purchase our products. Wider distribution equals more customers which equates to more sales, Plant Veda products are now available in some of the most well known supermarket chains in North America”.   CONTINUED…  Read this full release for Plant Veda Foods Ltd. at:


Other recent developments in the markets include:, Inc. (NASDAQ: AMZN) – Lightlife, a Greenleaf Foods, SPC brand, will be the exclusive provider of unbreaded, plant-based chicken for Whole Foods Market’s prepared foods counters across the U.S. and Canada. Lightlife’s newest plant-based chicken product is made with pea protein, and will be available at more than 500 prepared food departments across North America, including hot and cold bars and grab-and-go meals. Earlier this quarter, Lightlife introduced plant-based chicken tenders and fillets. Whole Foods is part of the Inc. portfolio. Amazon recently announced financial results for its third quarter ended September 30, 2021.


Operating cash flow decreased 1% to $54.7 billion for the trailing twelve months, compared with $55.3 billion for the trailing twelve months ended September 30, 2020. Free cash flow decreased to $2.6 billion for the trailing twelve months, compared with $29.5 billion for the trailing twelve months ended September 30, 2020. Free cash flow less principal repayments of finance leases and financing obligations decreased to an outflow of $8.8 billion for the trailing twelve months, compared with an inflow of $18.4 billion for the trailing twelve months ended September 30, 2020. Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations decreased to an outflow of $3.9 billion for the trailing twelve months, compared with an inflow of $17.9 billion for the trailing twelve months ended September 30, 2020.


The Kroger Co. (NYSE: KR) Kroger began expanding its Simple Truth plant-based line, promising to launch more than 75 vegan products by the end of 2020. Granted, the Simple Truth plant-based products aren’t the only vegan options you’ll find at the store, as Kroger also stocks favorite vegan brands such as JUST Egg, Miyoko’s Creamery, and Tofurky. Kroger and Home Chef recently announced the meal solutions brand reached $1 billion in annual sales. Founded in 2013 by Pat Vihtelic, Home Chef merged with Kroger, America’s largest grocery retailer, in 2018. Since then, Kroger and Home Chef have advanced the availability of mealtime shortcuts and solutions, offered new product innovations, and continued to transform how customers approach preparing meals.


“Kroger’s commitment to being Fresh for Everyone is underscored by our Home Chef products, which help us bring families together in the kitchen with meal options for any occasion,” said Dan De La Rosa, Kroger’s group vice president of fresh merchandising. “We continue to strategically expand Home Chef offerings across our family of companies. Whether it’s meal kits, or heat-and-eat and ready-to-cook solutions – which are available via subscription, in-store, pickup, or delivery – it’s safe to say that Home Chef has mealtime covered.”


Costco Wholesale Corporation (NASDAQ: COST) From selling millions of “bleeding” vegan burgers to ditching hot dogs in its food courts in order to make room for more plant-based options, Costco is becoming vegan-friendly at a rapid pace. Here are 18 of our favorite finds from this big-box store that we’re filling our freezers and pantries with.  Costco recently announced that its Board of Directors has declared a quarterly cash dividend on Costco common stock of 79 cents per share. The quarterly dividend is payable November 12, 2021, to shareholders of record at the close of business on October 29, 2021.


Costco currently operates 817 warehouses, including 565 in the United States and Puerto Rico, 105 in Canada, 39 in Mexico, 30 in Japan, 29 in the United Kingdom, 16 in Korea, 14 in Taiwan, 13 in Australia, three in Spain, and one each in Iceland, France, and China. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia.


Sprouts Farmers Market, Inc. (NASDAQ: SFM) Sprouts has everything you need to fill your plate with plant-powered goodness. We’re proud to offer a variety of innovative products to excite your tastebuds like portabella mushroom jerky and coconut milk ice cream, plus all your vegan classics like marinated tofu or Sprouts Vegan Protein Powder. With thousands of vegetarian, vegan and plant-based items available to discover down each aisle, you’re bound to dig up something unique every time you shop.  Sprouts recently announced it will issue financial results for the third quarter ended October 3, 2021 after the market closes on Thursday, November 4, 2021. Following the release, Sprouts’ management will conduct a conference call at 2:00 pm PDT (5:00 pm EDT) to discuss the results for the quarter.


A webcast of the conference call will be available. Participants should register on the website approximately 15 minutes prior to the start of the webcast.


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