USA News Group – According to Spoonshot, the trendspotting platform for artificial intelligence, concerns about the clean label status and ultra processing methods of plant-based products such as those from manufacturers such as Beyond Meat, Inc. (NASDAQ:BYND) and B2B ingredients manufacturer Ingredion Incorporated (NYSE:INGR). According to the International Food Information Council (IFIC) Food and Health Survey 2022, consumer preference for products labeled “clean” and “natural” continued to increase in 2022. Retailers such as Amazon.com, Inc. (NASDAQ:AMZN) (NEO:AMZN) Subsidiary whole foodand Costco Wholesale Corporation (NASDAQ:COST) (NEO:COST) while also opening doors for a newly-listed health food maker Pangea Natural Food (CSE:PNGA).
The University of Minnesota study, conducted in early 2022, found a growing “trust gap” among American adults, showing that less than 25% have a high level of trust in information about where their food is grown and how it is produced. By 2024, the global clean label ingredients market is projected to grow to $51.14 billion and potentially grow at 17.5% annually through 2030.
The company recently went public after successfully launching its non-GMO, natural products in over 250 retail locations in Canada Pangea Natural Food (CSE:PNGA) announced [1] its expansion into the United States through the H Mart Chain with 84 stores in the US and additional stores in Canada and the UK.
Retail sales start with Pangea‘s Plant-based patties made with pea protein and free from GMO ingredients, fillers, antibiotics, hormones and bio-engineered ingredients.
“Building on the positive momentum of our recent distribution across Canada, we are excited to now expand into the United States,” he said Pangea CEO, Pratap Sandhu. “We look forward to introducing our products to a wider audience and making delicious, nutritious and sustainable food more accessible than ever before.”
After founding Pangea In April 2021, Sandhu was named the sixth annual Bay Street Bull 30X30. His company officially began public trading on the CSE on July 4, 2022 under the symbol PNGA and successfully raised $1.4 million in its seed funding round.
Pangea recently announced further Canadian expansion to a total of over 250 retail stores with a national product listing of approximately 23 IGA Marketplace BC locations and all seven Fresh street market Locations.
All Pangea Products are manufactured on Vancouver’s Lower Mainland in an on-site facility approved by both the Canadian Food Inspection Agency and the US Food and Drug Administration.
“Pangea Natural Food has partnered with experienced food scientists to formulate its products with a focus on providing consumers with quality food products,” Sandhu said. “We believe the key to growing the business will be bringing consumers highly nutritious, filling foods with great taste and texture.”
Lately Pangea also announced the successful launch of its Old Fashioned Ghee and Plant-Based Patties products at popular Canadian retailers IGA and Fresh street marketwhich adds to its national distribution presence, which also includes Frugal groceries, Loblaws and Supermarket.
Considered a standard bearer for selling natural foods and championing the clean label movement whole food— the subsidiary of Amazon.com, Inc. (NASDAQ:AMZN) (NEO:AMZN).
But their efforts have not been without challenges. Late last year, both Amazon and Costco Wholesale Corporation (NASDAQ:COST) (NEO:COST) announced recalls that were included Fresh express packaged salads.
in-house Costco recently achieved success with the launch of its Kirkland Signature label biscuits, which boast a neat, clean nutrition label and few simple ingredients. For those who don’t have a membership with Costcothe biscuits can also be bought Amazon.
Both Amazon and Costco have agreed to launch a new plant-based US energy brand Pumpkin Spice energy drink yerbaewhich will be available in Fall 2022 for a limited time.
“This new energy drink has only eight ingredients that are non-GMO and plant-based,” he said yerbae company in a statement. “By trading a PSL yerbae provides good plant-based energy without the guilt that can come with eating unhealthy amounts of sugar, artificial ingredients and calories.”
The Pumpkin Spice Energy Drink launches in September Amazon and in the chosen one Costco Businesses in Southern California.
Assisting in providing the right types of ingredients for these cleaning products, Ingredion Incorporated (NYSE:INGR) meets the needs of its clientele through its specialty ingredients arm. By the company’s second quarter of 2022 Ingredion reported a 16% increase in net sales.
“In response to continued strong demand for clean-label texture starches, we have accelerated the ramp-up of new capacity at our Indianapolis facility,” he said Ingredion President and CEO, James P. Zallie. “Additionally, our reduced sugar and specialty sweetener platform had another excellent quarter with net sales increasing more than 20%, led by double-digit sales growth from PureCircle’s stevia franchise.”
Similar to Pangea and is Plant-Based PattiesIngredion has worked to win over some of the consumers looking for plant-based alternatives to meat.
Perhaps the best-known publicly traded, all-plant-based meat company in existence Beyond Meat, Inc. (NASDAQ:BYND). Back in 2020, the company went on the offensive following attacks on its “ultra-processed” plant-based meat, which pointed the finger at “industry-sponsored” ads by the Center for Consumer Freedom attacking plant-based burgers.
“Over the coming months and throughout 2020, you will see us telling our ingredient and process story with content in digital and print media that helps consumers get the information they need to make informed purchasing decisions to meet,” he said Beyond meat President and CEO Ethan Brown.
While many of the biggest claims about the benefits of plant-based meats also seem to revolve around their environmental impact, debate continues as to how health-friendly they actually are.
Unfortunately for Furthermore, some appears to be weighing on their balance sheets as recent financial highlights of the second quarter of 2022 showed a 1.6% year-over-year decline in net income and a gross loss of $6.2 million, or a 4.2% decline in gross margin of net income .
“In the second quarter of 2022, we had our second-biggest quarter ever in terms of net income, despite consumer action on protein-related inflationary pressures, and we made solid sequential progress in reducing operating and manufacturing conversion costs,” Brown said. “Our transition to mass-market consumption will occur as we realize our vision: to offer consumers plant-based meat that is indistinguishable from animal protein, is considered healthier, and is priced the same.”
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