Extreme weather conditions across the globe are putting a strain on dairy cows, drying up milk production and withering crops that feed the cattle. Heat and drought in India, Australia and France threaten the long-term global dairy supply, including everything from butter to baby formula. Due to extreme weather brought on by climate change, some of the world’s largest milk-producing regions are becoming less hospitable to these animals: Cows produce less milk when stressed by high temperatures, and arid conditions and storms exacerbate the problem by withering or destroying the crops they eat. Some scientists predict climate change will cost the dairy industry around $2.2 billion per year by the end of the century in the United States alone. Luckily, companies like The Planting Hope Company Inc (TSXV:MYLK) (OTCQB:MYLKF), Hain Celestial Group, Inc. (NASDAQ:HAIN), Oatly Group AB (NASDAQ:OTLY), SunOpta Inc. (NASDAQ:STKL) and Danone (OTC:DANOY) have developed plant-based alternatives that could help mitigate the dairy supply and demand gap.
The Planting Hope Company Inc. (TSXV:MYLK) (OTCQB:MYLKF) is a plant-based food and beverage company that creates, launches, and scales innovative plant-based and planet-friendly food and beverage brands. The Planting Hope brand family includes Hope and Sesame® Sesamemilk, RightRice® Veggie Rice, Mozaics™ Real Veggie Chips, and Veggicopia® Veggie Snacks, which are sold in stores across the United States and Canada, including Whole Foods, Krogers, Sprouts Farmers Market, Safeway, Loblaw and Amazon.
The Planting Hope Company has continued to execute its business plan since the beginning of 2022, expanding its core products in key channels and setting up new products and distribution that will reach scale in 2023.
On November 15, The Planting Hope Company announced that its RightRice® Veggie Rice is launching Walmart stores across Canada this month. Four flavors of RightRice® (Original, Spanish, Garlic Herb, Cilantro Lime) will be added to the packaged rice sets in the grocery section of these Walmart stores.
“We are honored to take our first step into Walmart, the largest global retailer, with an important presence in the Canadian market,” said Planting Hope co-founder and CEO Julia Stamberger. “The initial reception from Canadian consumers to RightRice® has been extremely favorable, and we’re excited to inaugurate the launch of our new dual-language RightRice® packaging in Walmart Canada stores, providing the first major distribution for RightRice® bilingual packages in Canada. With 90% veggies, RightRice® represents a breakthrough in grains, combining the nutrition of beans and rice together in a single quick-cooking grain with more than 9g of complete protein, 5g of dietary fiber and 30% fewer carbs than white rice.”
Last week, the company announced that Dot, the largest foodservice redistributor in North America, will begin stocking Original RightRice® Veggie Rice and multi-award-winning Hope and Sesame® Barista Blend Sesamemilk.
Starting in November 2022, Roti Mediterranean quick-service restaurants will offer RightRice as a delectable and wholesome topping for entrée or bowl. Roti restaurants can be found all over the Midwest, and Planting Hope‘s hometown of Chicago serves as its corporate headquarters. In the future, 28 locations will specifically list RightRice on their current menus. RightRice is a complete plant-based protein substitute for white rice that is made primarily from vegetables, is high in protein, and contains few carbohydrates.
On November 8, Planting Hope announced the launch of three shelf-stable Hope and Sesame® SKUs in Canadian-compliant packaging (Barista Blend Sesamemilk, Original Sesamemilk, and Unsweetened Original Sesamemilk) across 382 Loblaw stores, representing 1,146 new Total Distribution Points in Loblaw locations.
The largest grocery chain in the US, Kroger, has recently added three new Hope and Sesame® Non-GMO Sesamemilk shelf-stable SKUs to its plant-based milk grocery aisle in 681 locations nationwide.
Plant-based Alternative Companies Making Strides in the Sector
Hain Celestial Group, Inc. (NASDAQ:HAIN), a leading natural and organic products company that offers A Healthier Way of Life has announced that it will host a conference call on November 8, 2022, to discuss its Q1 2023 financial results. In Q4 2022, the company announced net sales of $457 million, representing a YoY growth of 1.4%. The company reported a 4% YoY drop in sales for the whole year to $1.892 billion. CEO Mark Schiller said during the release of Q4 2022 results that they are confident of their strategy going into fiscal 2023 and anticipate restoring revenue and EBITDA growth.
Oatly Group AB (NASDAQ:OTLY), the largest oat drink producer, has partnered with the German petrol station network Aral to launch its oatly Barista Edition across 1,250 Aral locations. Aral is the biggest petrol station network and largest coffee-to-go vendor in Germany, with around 2,400 sites in the country. Food Service Category Manager at Aral Marvin Scharff said that with the Oatly Barista Edition, they would cater for the growing number of customers that prefer plant-based alternatives at no extra charge. Since its initial entry into Germany in 2018, Oatly has led the way in both the growth of the oat beverage market and the wave of mass adoption that has swept the nation.
SunOpta Inc. (NASDAQ:STKL) offers pure-play exposures to natural, non-GMO and organic foods. The company has announced that it will release its Q3 202 financial results on Wednesday, November 9, 2022. Recently the company announced the sale of Pacific Avenue Capital Partners, its sunflower business, for $16 million. The company finalized the deal on October 11, 2022. The divestiture further emphasizes the progress against the company’s strategic transformation imperative and focuses on high return opportunities on value-add plant-based food and beverages.
Danone (OTCMKTS:DANOY) has announced its Q3 2022 results, with net sales increasing 19.1% on a reported basis. The company reported like-for-like sales growth in all categories and geographies, with consolidated sales of €7.3 billion in the third quarter. CEO Antoine de Saint-Affrique said that despite the challenging environment, the company is displaying consistent progress in all aspects of its Renew agenda.
Meanwhile, The Planting Hope Company’s award-winning and cutting-edge products continue to fill key unmet needs in the booming plant-based food and beverage industry.
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