CEOs of Plant-Based Food Brands BYND, OGGFF, TTCF and OTLY Scaling Revenue Growth with Disruptive Innovation and Market Expansion
NEW YORK, Dec. 09, 2021 (GLOBE NEWSWIRE) — Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Organic Garage (OTC: OGGFF) (TSX.V: OG), Tattooed Chef (NASDAQ: TTCF), Beyond Meat (NASDAQ: BYND), and Oatly (NASDAQ: OTLY).
Plant-based food brands are driving explosive revenue growth and emerging as a generational megatrend opportunity for the 2020’s and decades beyond. The organic food and beverage market is expected to reach $320 billion in the next 4 years according to Grandview Research. Wall Street Reporter highlights leaders in plant-based food brands:
Organic Garage (OTC: OGGFF) (TSX.V: OG) CEO Matt Lurie: “Ready to Scale with Plant-Based Brands and Next Gen Organic Retailing”
Organic Garage (OTC: OGGFF) a featured presenter at Wall Street Reporter’s NEXT SUPER STOCK investor conference, is capitalizing on twin megatrends in the booming plant-based foods space and specialty organic retailing. In his recent presentation, OGGFF CEO Matt Lurie shared with investors how OGGFF is positioned for explosive growth in the coming months, as it scales its “Organic Garage” specialty retail stores and launches its “Future of Cheese” brand which targets multi-billion dollar opportunities in the global plant-based dairy alternatives sector.
Watch Organic Garage (OTC: OGGFF) (TSX.V: OG) Next Super Stock livestream video: https://bit.ly/3pHIOkL
OGGFF’s “Organic Garage” specialty retail stores have built up a cult following among millennial shoppers in Toronto, Canada through a fun experiential retail concept and discount pricing – “Healthier Food For Less”. OGGFF currently has four stores generating over $30 million in revenue, at strong gross margins – and is now at an inflection point – ready to scale rapidly with new locations. In his interview with Wall Street Reporter, OGGFF CEO Matt Lurie discusses the possibilities for scaling the Organic Garage brand globally, whether through company owned stores, partnerships, and or franchises.
OGGFF is further leveraging its retailing domain expertise into the plant-based foods space. With a strong knowledge of what sells on retail shelves and what today’s consumers want, OGGFF is developing its own plant-based CPG brands. OGGFF has just launched the “Future of Cheese” brand targeting the dairy alternatives space. Developed by the world’s leading cheese experts, Future of Cheese is rolling out a full line of cheese, butter and other exciting plant-based dairy products. The brand is a hit with consumers and products are selling out on shelves weekly. OGGFF is now expanding its product portfolio to 8-10 SKU’s in coming months which will help drive market penetration with international retailers. In his interview with Wall Street Reporter, Matt Lurie discusses OGGFF’s growth strategy for global sales expansion of Future of Cheese in retail and restaurants.
December 9 – OGGFF reports that its plant-based food company, Future of Cheese Inc. has started supplying restaurants and food service customers and faster than expected. The company’s plant-based butters and brie have been launched on menus as ingredients at a growing number of vegan and non-vegan restaurants in Ontario. The company’s distributor has stated that the demand from the food service industry has been better than expected and products are being rapidly adopted.
Watch Organic Garage (OTC: OGGFF) (TSX.V: OG) Next Super Stock livestream video: https://bit.ly/3pHIOkL
Beyond Meat (NASDAQ: BYND) CEO Ethan Brown: “Category Leader in Plant Based Meat Brands”
“…For Q2 2021, we generated record net revenues of $149 million, which came in toward the top of our guidance range for the quarter and represented a 32% increase year-over-year. I am proud of this result, as we exited with our previous best ever quarter in terms of sales, one where the defining feature was COVID induce stockpiling, and stay-at-home orders, proliferated across the U.S. and globe…In foodservice, net revenues were up 218% year-over-year, and 61% sequentially, driven by re-openings within the sector. Here in the U.S., foodservice net revenues were up 269% year-over-year, while internationally, we saw an increase of 172%. We continue to hold the number one brand position in terms of dollar share according to NPD data for Q2 2021…We believe our progress internationally will accelerate and broaden as we implement investments, including the continued scaling of our EU and China operations that will enable capacity expansion, cost optimization and increased consumer engagement.”
“…Beyond Meat’s unaided brand awareness in the U.S., increased to its highest level 26% according to July 2021 survey data, and remains the highest such level among all major plant based meat brands by a healthy margin. We continue to hold the number one product position, and four of the top six products in our category according to SPINS data for U.S. multi-outlet and natural and specialty towns for the 12 week period ended June 13, 2021…Total distribution points for the Beyond Meat brand or TDPs increased 55% year-over-year, driven by growth in total outlets, as well as the introduction of new products, including Beyond Meatballs and Beyond Breakfast Sausage Links according to SPINS data from MULO and natural specialty channels for the same period…”
Beyond Meat (NASDAQ: BYND) Earnings Highlights: https://bit.ly/2ZtX4Vb
Oatly (NASDAQ: OTLY) CEO Toni Petersson: “Accelerating Conversion to Plant Based Alternatives From $600 Billion Global Dairy Market”
“…Nearly 70% of plant-based milk consumers have joined the category in the last 2 years in our key market. This conversion demonstrates the accelerating trajectory of the category and growth potential…The oat category is rapidly gaining market share and surpassing other crop categories in our key geographies, with Oatly helping to accelerate the overall oat and nondairy category growth for active markets. We believe a majority of the market is wide open for the taking, and at Oatly, we’re approaching a major tipping point of conversion to plant-based alternatives, and this creates a significant runway of long-term growth.”
“…Our oat-based products are available across 65,000 retail doors and over 60,000 foodservice locations, including coffee and tea shops. Year-to-date, we’ve added more than 30,000 total doors across all of our sales channels globally, with additional upside in all of our key markets….As we continue to scale, we have significant opportunity to satisfy unmet demand and leverage our brand success to expand across geographies, sales channels and product categories. June was the highest production month in company’s history, and we have started out the third quarter strong in July with a consecutive record-setting production month…this is a trend we expect to continue and gives us confidence in our 2021 outlook for revenue to exceed $690 million, an increase of greater than 64% year-over-year, representing an acceleration in our rate of growth in the second half of 2021 from the first half of 2021.”
Oatly (NASDAQ: OTLY) Earnings Highlights: https://bit.ly/3nu6cB1
Tattooed Chef, Inc. (NASDAQ: TTCF) CEO Sam Galletti: “Tattooed Chef Positioned to be Generational Brand in Plant-Based Foods”
“Our momentum continued in the second quarter of 2021. Second-quarter revenue increased 46% to $50.7 million compared to the second quarter last year, driven by our Tattooed Chef branded products…In 2021, we are reiterating our revenue guidance of $235 million to $242 million…”
“…Plant-based food is here to stay, every category in the supermarket will be disrupted by a plant-based alternative and Tattooed Chef is positioned to be the disruptor…We plan to extend the Tattooed Chef reach not only within grocery, but to a whole new level of convenience in refrigerated and ambient products to an untapped market of retailers such as airports, convenience stores, and more… With fully vertically integrated production, diversified product lines, and the ability to win multiple areas of the grocery stores, not only frozen but refrigerated and ambient too, Tattooed Chef is positioned for long-term success…we firmly believe Tattooed Chef has the power to be a generational brand and a leader in plant-based food for years to come.
Tattooed Chef, Inc. (NASDAQ: TTCF) Earnings HIghlights: https://bit.ly/3jXWJkP
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