- Plant-based dairy and meat alternatives sales are projected to reach $162 billion in 2030
- The growth will be fueled by the growing popularity of the products and consumers becoming more conscious of the environmental footprint of food
- PlantX intends to capitalize on this growth. So far, it has invested in its infrastructure while also growing its product line that already comprises over 5,000 products
According to a Bloomberg Intelligence report, in 2020, plant-based dairy and meat alternatives totaled $29.4 billion. It is projected that by 2030, sales will have increased to $162 billion, making up 7.7% of the global protein market (https://ibn.fm/RO0Vd).
Legacy food companies such as Nestle SA, Tyson Foods Inc., and Kellogg Co. have all noticed this trend and the industry’s potential. Consequently, they have introduced their plant-based meat alternatives and milks to compete with dedicated plant-based food companies such as Beyond Meat Inc., Oatly Inc., and Impossible Foods Inc.Their biggest strength is their overall scale, which they are leveraging to drive distribution, promotion, and marketing.
PlantX Life (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) is a company that is committed to redefining the plant-based community through e-commerce and going against legacy food companies. Its primary objective is to become the most trusted and convenient destination for anyone interested in living plant-based lives.
With its multifaceted marketplace, PlantX’s consumers can not only access a wide range of plant-based products but also enjoy an unrivaled e-commerce experience. They can also be part of a community of individuals living a plant-based lifestyle and enjoy a home delivery system for products, recipes, meals, and more.
PlantX acknowledges the potential of the plant-based market, hence its investment in its products and infrastructure. The company also understands the benefits of plant-based products from a health and sustainability standpoint. Meat and dairy substitutes are often marketed as healthier and more sustainable compared to products gotten from animals. As time progresses, consumers are becoming more conscious of the environmental footprint of food (https://ibn.fm/eHvMZ). They are also growing more committed to living healthier lifestyles while having as little impact on the environment as possible.
PlantX knows this and has positioned itself to capitalize on this growing trend while leveraging it to have a longer-lasting impact on the market. This is evidenced by its growing product line, which currently comprises over 5,000 products, coupled with its plans to continue to expand its verticals. With the industry projected to grow fivefold by 2030, PlantX seeks to be at the center of this growth. So far, everything seems to be on track.
For more information, visit the company’s websites at www.PlantX.com.
NOTE TO INVESTORS: The latest news and updates relating to PLTXF are available in the company’s newsroom at https://ibn.fm/PLTXF
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