Cell-based milk is a niche sector that could eat into the $871 billion global dairy sector
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The dairy industry is among the most environmentally unsustainable sectors due to its contribution to greenhouse emissions, notably the releases of methane and degradation of biodiversity and water resources. However, the latest biotechnological advances are looking to improve the sector’s green credentials with the introduction of cell-based milk. Turtle Tree Labs is one startup creating cell-based milk, which promises milk products from cells grown in the lab. The startup produces milk from mammary cells grown in the lab and produces milk in bioreactors. Cell-based milk is a niche sector that could eat into the $871 billion global dairy sector. Meanwhile, the global plant based milk market is continuing to gain steam, hitting nearly $39 billion in 2022. The market is projected to rise at a CAGR of 15.5% to reach $123.2 billion by 2029, creating an opportunity for companies like The Planting Hope Company Inc. (TSXV:MYLK) (OTCQB:MYLKF), The Hain Celestial Group, Inc. (NASDAQ:HAIN), Oatly Group AB (NASDAQ:OTLY), SunOpta Inc. (NASDAQ:STKL) and Danone (OTCQX:DANOY).
The Planting Hope Company Inc (TSXV:MYLK) (OTCQB:MYLKF) is a company that develops cutting edge plant-based food and beverages that are distributed in retailers across the United States and Canada, including Whole Foods Market, Sprouts Farmers Market and Amazon. Planting Hope has cracked the code on developing a plant-based milk from sesame seeds that it claims is nutritionally comparable to dairy milk with 8g of complete protein per serving, and uses 95% less water than almond milk. The company spent more than five years investing in R&D formuliation and processing, including two years on its Barista product, that is getting placement in cafes, and is the only company globally producing a commercialized sesame milk of this kind.
On November 8, The Planting Hope Company announced that its Hope and Sesame® Sesamemilk products will be launching in 382 Loblaw stores across Canada in November 2022.
After making a commitment in Q2 2022 to launch the top items in its Hope and Sesame®, Mozaics™, and RightRice® brands in Canadian-compliant dual-language packaging, Planting Hope produced the first production runs of these products in Canadian-compliant packaging in the third quarter. Now, the company will be launching three shelf-stable Hope and Sesame® SKUs (Barista Blend Sesamemilk, Original Sesamemilk, and Unsweetened Original Sesamemilk) in Canadian-compliant packaging across 382 stores, which represents 1,146 new Total Distribution Points in Loblaw locations.
“As a plant-based food and beverage company headquartered in Canada and listed on the TSX Venture Exchange, entering with our flagship Hope and Sesame® brand is an important milestone for Planting Hope. Loblaw has always taken an innovative approach to the grocery experience and expects the same from its brand partners,” said Julia Stamberger, CEO and Co-founder of Planting Hope. “Hope and Sesame® has brought important breakthrough innovation to plant-based milk, opening a whole new category, sesame milk, that unlocks the dense nutrition of the extremely sustainable and planet-friendly sesame seed. We’re very excited to bring our innovative Sesamemilk line, in our eye-grabbing, colorful new dual-language packaging, to Canadian consumers with Loblaw.”
In September, The Planting Hope Company announced that its Hope and Sesame® Sesamemilk is now available at Kroger stores nationwide across multiple retailer banners. The company also added top New York City area foodservice distributor Baldor Specialty Foods, as well as increased visibility to the trade and consumers through events, new distribution, and in-store placements.
Since the beginning of 2022, the company has continued to effectively execute on its business plan, including expanding core products in key channels, and setting up new products and distribution that will achieve scale in 2023. Since January, The Planting Hope Company has added more than 3,700 new grocery retail doors and more than 9,600 new total distribution points (TDP) in key retailers, including Loblaws, Whole Foods, Sprouts Farmers Market, Safeway, Fresh Thyme Market and many others. Aggregate grocery retail TDP is now over 50,000 placements across product lines and brands.
For more information about The Planting Hope Company Inc (TSXV:MYLK) (OTCQB:MYLKF), click here.
Source: Company Press Release