Ever Increasing Customer/Distribution Base The dairy alternatives market is expected to hit $53.97B by 2028 from $19.66B in 2020, and between 2021-2028, it's estimated that the market will grow with a CAGR of 13.3%. The global dairy market is estimated to be worth $490B, with a CAGR of 5%. Meaning that the alternative dairy market will keep securing a more significant portion of the dairy market.
https://www.globenewswire.com/news-release/2021/07/30/2271991/0/en/Dairy-Alternatives-Market-to-Hit-53-97-Billion-by-2028-Surging-Demand-for-Plant-Based-Milk-Products-by-Health-Enthusiasts-to-Spur-Growth-Fortune-Business-Insights.html
With the growth in the plant-based market, there’s a ton of potential for many companies. One of my favourites is Plant Veda. $MILK is a company that has 3 main, award-winning, product offerings: Lassi, coffee creamer, and milk. With yogurt and dips currently being developed.
Their timeline and recent announcements have been pretty impressive. For example
- Partnership with Fresh Prep (17,000+ customers). Will be listed as a “local add-on”
- FDA Registration and CFIA approval
- Plans to expand nationally this year, and internationally next year. Tie this in with their products in over 100 retail locations, things are looking good now and for the future! The management team has done a great job this year ensuring the business is operating well and is in a position to grow.
It’s currently hovering near lows from mid-July at $1.65 so it might be a good time to buy the dip. A $32M market cap looks relatively cheap when considering what they’ve done and what the future holds!