Plant Based Products Gain Momentum - from food to wellness (OTCQB: $RVIV) (NYSE: $INGR) (NASDAQ: $BYND) (NASDAQ: $TYHT)
Point Roberts, WA and Delta, BC - August 13, 2019 (Investorideas.com Newswire) Investorideas.com, a leading investor news resources covering wellness and food stocks releases a sector snapshot reporting on the continued rise of plant based/vegan products in the food and wellness sectors.
"Vegan" "organic" "plant based" - these are all terms that are becoming more commonplace when addressing consumer expectations in many industries and many companies, as well as investors, are taking note.
A research study by Persistence Market Research also supports the growth of the market stating, "The global plant based proteins market is witnessing high growth in the coming years. It is poised to register a robust CAGR of 5.7% throughout the period of forecast 2017-2025. In 2017, the global market was viewed at US$ 10.5 Bn and with this growth rate, it is estimated to reach a value of around US$ 16.3 Bn by the end of 2025."
Reviv3 Procare Company (OTCQB: RVIV), a manufacturer of plant-based salon products designed for modern hair care challenges announced that it appointed Gerry Udell, Inc. as representatives of its professional salon products for the states of Connecticut, Delaware, DC, Maine, Pennsylvania, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, Vermont, West Virginia and Maryland.
"Gerry Udell is a highly respected manufacturer's rep organization with a reputation of excellence in the professional beauty space. We believe this partnership will significantly expand our market exposure and strengthen our position in the Northeast territories," said Donald Starace, President of Reviv3.
Gerry Udell Inc. is the largest regional sales agency in the professional beauty industry. The family owned company has been in business for fifty-eight years. Gary Udell, President of Gerry Udell stated, "Our company feels that the Reviv3 hair treatment system has already been tested and proven to be effective in the prevention of hair loss. We believe there is a great opportunity in this category in the professional beauty field." According to Udell, the company has already targeted prospective distributorships that will be able to promote and expand the line to leading salons and spas. Udell stated, "Our entire organization believes Reviv3 Procare will become a major brand in the Professional Beauty industry."
Reviv3 salon products were initially launched in exclusive salons in Italy and New York. The products include a line of hair cleansing, moisturizing, thickening agents, restoratives and environmental defense products that address the hair care challenges of the human body in transition. The company is committed to the cause of thinning hair by restoring the strength, protein and critical moisture that is degraded over time by using the highest quality active ingredients found in nature to create professional grade products that simply work.
Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to diversified industries, recently announced it will further expand its manufacturing and production capabilities in Vanscoy, Saskatchewan with Verdient Foods, Inc. As part of this investment, the Company has begun construction on a new manufacturing facility to produce specialty pulse-based protein ingredients. The new facility, which is expected to be operational in the second half of 2020, significantly increases the Company's food processing capabilities to meet the growing consumer demand for plant-based proteins.
"We've advanced our specialty strategy to capitalize on the trends shaping the food industry," said Ingredion's President and Chief Executive Officer, Jim Zallie. "Our latest investment will significantly expand our product portfolio to provide more innovative solutions to our customers, which will enable future growth. Ingredion and Verdient also share a common vision that sustainable and trusted sourcing will play an important role in the future of consumer-preferred plant-based proteins."
Jim Cameron stated, "I'm excited to further our relationship with Ingredion, which will power significant expansion of plant-based proteins to consumers around the world. By working together, we have an amazing opportunity to be leaders in the next wave of global food production, which will have a lasting impact on future generations."
"By combining our expertise in product formulation with Verdient's high-quality Canadian-sourced pulses, we are uniquely positioned to be a reliable source supporting manufacturers as they create great-tasting and affordable plant-based proteins for food and beverages," said Igor Playner, Vice President of plant-based proteins at Ingredion.
Beyond Meat (NASDAQ: BYND), a leader in the plant based protein market as well as a company that has reached a very high news profile, recently announced that it no longer has plans to enter the Japanese market and will focus more on the US market, according to a Reuters report.
The Japanese trading house Mitsui & Co Ltd., which has a small stake in Beyond Meat told Reuters it no longer plans to sell plant-based meat alternatives in Japan.
Beyond Meat company has signed a deal to start producing its plant-based meat substitutes in Europe in 2020, according to a CNBC report. The company has partnered with Zandbergen World's Finest Meat to make its vegan meat alternatives in the Netherlands at a new manufacturing facility.
With its focus on the US as well as Canada, the company recently announced that Subway has partnered with Beyond Meat to test plant-based protein options starting this September.
The restaurant will trial the Beyond Meatball Marinara Sub in 685 participating restaurants in Canada and the United States.
"Our guests want to feel good about what they eat and they also want to indulge in new flavors. With our new plant-based Beyond Meatball Marinara Sub, we are giving them the best of both worlds. And, we are particularly excited about debuting a co-developed product that can't be found anywhere else: the Beyond Meatball made just for Subway," says Len Van Popering, Subway's Chief Brand and Innovation Officer.
According to a recent report from Research and Markets, Global Vegan Cosmetics Market 2019-2023, "with rising awareness about the negative impacts of animal-derived products, the demand for vegan products, including vegan cosmetics has also increased. Moreover, vegan cosmetics are manufactured from natural or plant-based ingredients which are beneficial for the skin. Vegan cosmetics improve skin health and reduce the chances of acne, dark circles, and other skin abnormalities. Hence, the preference for vegan products is rising among consumers which, in turn, is fueling the growth of the vegan cosmetics market at a CAGR of over 6% during the forecast period."
Shineco, Inc. (NASDAQ: TYHT), a producer and distributor of Chinese herbal medicines, organic agricultural produce, specialized textiles, and various health and well-being focused plant-based products in China, recently announced that the Company expects to launch hemp based cosmeceutical products on the Chinese market in August 2019 under its brand, LABEE.
The Company entered into a strategic cooperation agreement (the "Agreement") with Heilongjiang Harbin Beima Technology Development Co., Ltd. ("HBTD") on July 19, 2019 for industrial hemp related research, production, and sales including cosmeceuticals, pharmaceuticals, health care products, etc.
Previously, the company gained the exclusive use right of the hemp seed "M11" (the CBD of which can reach 2.97%) through the Institute of Bast Fiber Crops, Chinese Academy of Agricultural Science. The company also jointly developed CBD processing and extraction equipment with the Robot Team of Harbin Institute of Technology.
Mr. Yuying Zhang, Chairman and Chief Executive Officer of Shineco commented, "This is another milestone in our path to realize the potential of industrial hemp industrialization. For the product development under the LABEE brand, we cooperated with a team of world-class engineers and scientists."
Mr. Zhang continued, "We have completed the research and development of 18 products under the LABEE brand with CBD as the main component, including hemp leaf active repair mask series, hemp leaf beauty brightening mask and hemp leaf care mask. Experiments have proved that these products have anti-inflammatory, moisturizing, and antioxidant effects, and can be used to relieve skin sensitization and redness, establish protective barriers for skin surface, improve skin self-repair, and treat eczema. We expect to launch these products in China in August before introducing them to the global market in the future."
This demand for plant based products falls in line with many other "millennial trends" that have taken off as of late, as a larger number of consumers continue to care more about their personal health as well as environmental impact. This puts a strong emphasis on companies to begin focusing on plant based products that can be developed sustainably, not only for consumers but for investors as well, who are taking note of this growing trend, particularly seeing the meteoric rise of Beyond Meat. Whether considering hair care, cosmetics or the food we eat, plant based products continue to lead the way into the future.
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