Demand for plant-based products is only growing. Everywhere you look these days, there’s a plant-based product. Cosmetics, retailers, food chains. All as people around the world begin to adopt healthier, meat-free lifestyles. What you’re seeing is just the beginning of a larger, stronger trend that’s not likely to fade.
Look at food products for example. According to an early 2020 by Ipsos Retail Performance, as noted by The Beet, over 9.7 million Americans now follow a plant-based diet up from just 290,000 in 2004. Tyson, Smithfield, Perdue, Hormel, and Nestle are incorporating plant-based products. Even fast food chains are jumping on the bandwagon. McDonald’s for example just announced a meatless burger called the McPlant. Pizza Hut just partnered with Beyond Meat to offer plant-based pizzas across the country.
However, it’s not just food products seeing stronger demand. The cosmetics industry is also seeing it. “We know consumer interest in sustainability and vegan-friendly formulae is increasing,” says Jenni Middleton, director of beauty at the trend forecasting company WGSN, as quoted by Vogue. “People will shun animal-derived ingredients as they now understand the zoonotic origins of coronavirus, and want to turn to nature's apothecary to provide tried, tested and time-honored beauty and wellness solutions.”
There’s so much demand, the plant-based cosmetics market could be worth up to $20.8 billion over the next five years, according to Grand View Research. In addition, “Consumers are shifting their preference from chemical-based beauty products, owing to safety reasons, and are drawn towards ‘natural’ and ‘safe’ products. This, in turn, is likely to drive the adoption of vegan beauty products in the coming years. Furthermore, a growing number of social media channels and beauty bloggers are promoting makeup hacks using vegan beauty products. This, in turn, is boosting manufacturers of vegan beauty products,” added Prophecy Market Insights.
That’s creating significant opportunity for companies such as Better Plant Sciences Inc. (CSE:PLNT)(OTC:VEGGF), PlantX Life Inc. (CSE:VEGA)(OTC:PLXTF), Goodfood Market Corp. (TSX:FOOD), Else Nutrition Holdings Inc. (TSXV: BABY)(OTCQX: BABYF), and Pontus Protein Ltd. (TSXV:HULK).
Better Plant Sciences Inc. (CSE:PLNT) (OTC:VEGGF) BREAKING NEWS : Better Plant Sciences Inc. announced it has engaged the Thank You Merci’s sales and merchandising team to represent Jusu Body, Jusu Life, and Jusu Juice; commencing immediately. TYM offers full service sales representation and key account management for all channels in Canada & the USA. Better Plant already sells its wholly owned Jusu brands through its direct to consumer eCommerce platforms and is now augmenting those sales through retail channels.
Jusu Body consists of approximately 40 body and face products crafted from 100% plant-based ingredients. Jusu Life products include 5 home cleaning products with no chemicals that are also 100% plant-based. All of these products are available for purchase at getjusu.com. Jusu also has a proprietary line of all-natural pressed juices that are sold at the Jusu juice bar location at Cardoro Bay, Victoria and sold through direct-to-consumer platforms in Victoria, British Columbia and Calgary, Alberta.
TYM manages key accounts in the natural health and consumer packaged goods industry. The TYM team is composed of 10 experienced sales and account managers with over 16 years experience in the natural health industry.
“We are excited to be part of the launch and expansion of JUSU into the U.S. market. We feel we can help the brand explore direct and distributor partnerships with retailers, from independent single stores, to national chains,” says TYM Founder and CEO, Lindsay Blakeman “Jusu products deliver high quality, innovative and on-trend products that we couldn't be more thrilled to represent.”
Prior to founding Thank You Merci, Lindsay Blakeman worked with some incredible brands like Vega, Caulipower and Ancient Nutrition in both Canada and the U.S.
“Adding Thank You Merci’s esteemed sales and merchandising teams to represent Jusu products is a strategic move based on their extensive experience in the all natural health and consumer packaged goods industry” says Better Plant’s Head of Sales, Amber Allen. “The timing could not have been better with our entry into the U.S. market, to fully capitalize on their established relationships across North America.”
According to a report by Prophecy Market Insights, the global vegan beauty products market accounted for US $14.3 billion in 2019 and is estimated to be US $25.3 billion by 2029 and is anticipated to register a CAGR of 5.9%.
Jusu Life, Body and Home products are available at www.getjusu.com. For U.S. purchasing inquiries visit: www.thankyoumercisales.com .
Other related developments from around the markets include:
PlantX Life Inc. (CSE:VEGA)(OTC:PLXTF) is pleased to announce that it has appointed Mr. José Abbo , former chairman of Panama’s $1.5 billion Sovereign Wealth Fund, as chairman of the PlantX Advisory Team. The Advisory Team is composed of respected executives in the business, marketing and finance industries and will play a key role in guiding the Company’s growth-oriented business strategy. With more than 30 years of financial experience, Mr. Abbo is a prominent leader, writer and visionary in the capital markets sector. Mr. Abbo’s commitment to excellence has consistently been proven throughout his many roles, including as a financial strategist, financial advisor and investment consultant.
Goodfood Market Corp. (TSX:FOOD), a leading online grocery company in Canada, announced today that it has entered into an agreement with a syndicate of underwriters co-led by Desjardins Capital Markets and RBC Dominion Securities Inc. , pursuant to which the Underwriters have agreed to purchase from the Company, 4,800,000 common shares of the Company at a price of $12.50 per Common Share for aggregate gross proceeds to Goodfood of approximately $60.0 million.
Else Nutrition Holdings Inc. (TSXV: BABY)(OTCQX: BABYF), the plant-based baby, toddler and children nutrition company, announces that it has signed an agreement with Thrive Market , a U.S.-based online retailer of wellness, nutrition and better-for-you food products. The agreement opens another important gateway into the U.S. natural foods market. Parents across the United States seeking healthier plant-based nutrition alternatives for their children, will imminently be able to find Else's Plant-Based Complete Nutrition for Toddlers on Thrive Market. "We're excited to form a partnership with Thrive Market as it further advances E-commerce strategy," said Hamutal Yitzhak, CEO and Co-Founder of Else Nutrition. "Thrive Market is a wonderful fit for our brand as we share the common values of expanding healthy living, through accessible whole food nutrition while taking care of our planet.," she added.
Pontus Protein Ltd. (TSXV:HULK) announced it has made significant progress towards the development of its state of the art, integrated aquaponics facility located in Surrey, British Columbia, Canada. The Company has submitted a construction application to the City of Surrey for its 20,570 square foot. aquaponics facility. The approval process is estimated to be completed within 6 weeks and is expected to be followed by the immediate commencement of construction of the Facility’s leasehold improvements. Accordingly, the leasehold improvements are to consist of a complete retrofit of the Facility to establish Pontus’ solar-powered, water recycling CEVASTM aquaponic system. The installation of all required equipment for the growth and production is forecasted to take between four and six months to complete. Upon completion, the Facility will be approximately 20 times the size of Pontus’ prior prototype facility. The prototype facility has been used to test and develop the technology for the Company’s proprietary growing process.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Better Plant Sciences Inc. has paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares of Better Plant Sciences Inc.
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