Planting Hope Co Inc V.MYLK

2021 US Sales Data Highlights $MYLK.v's Market Opportunity

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2021 US retail sales data for the plant-based foods industry sheds new optimistic light on The Planting Hope Company (TSXV: MYLK). Five specific metrics from the report glean a positive outlook for the company. These include:

• Over the past three years, the plant-based milk category grew 33% to its current size of US$2.6 billion, by far the largest plant-based category

• Plant-based milks now occupy 16% of overall retail milk dollar sales in conventional channels and 40% in the natural enhanced channel

• Household penetration of plant-based milk has reached 42% with a 76% repeat rate

• Over the past three years, the plant-based creamer category grew 373% to its current size of US$0.5 billion, becoming the third-largest plant-based category, and one of the fastest-growing

• In 2021, plant-based creamer growth outpaced the growth of animal-based creamers and was the growth driver of the overall creamer category, with a year-over-year growth rate of 33%

$MYLK.v’s sesame-based milk and creamer are two of the core products in its offering, and considering this data, they also present the largest market opportunity for the company. I’m looking forward to seeing updated financial reports to get an idea of how the company’s sales have been faring. 

$MYLK.v is currently trading at $.82 and is valued at an MCAP of $39.15M. 

https://ceo.ca/@accesswire/planting-hope-highlights-record-2021-us-retail-sales