Plant-Based Product Revolution is Creating a Potential $20.8 Billion Opportunity
Houston, Texas--(Newsfile Corp. - July 15, 2020) - Demand for plant-based products has been explosive.
Look at food for example. U.S. retail sales of plant-based foods grew 11.4% in 2019 to $5 billion, according to a SPINS sales data report shared by The Good Food Institute and the Plant Based Foods Association, as noted by Forbes, for example.
"Plant-based milk sales grew 5% last year and 14% over the past two years, and they now make up about 40% of the total plant-based food market with about $2 billion in annual sales. Meanwhile, sales of other plant-based dairy alternatives including ice cream, butter, cheese and yogurt soared 53% over the past two years, from a much smaller base."
Better, more people, especially Millennials are demanding plant-based products like cosmetics.
So much so, the global vegan cosmetics market could be worth up to $20.8 billion over the next five years, says Grand View Research.
All on the belief that plant-based products are far better for their health, consumers are pushing for natural alternatives. At the moment nearly a third of Millennials are already buying skin care products with organic, sustainable, or plant-based attributes, says Linkage Research.
In addition, "Consumers are shifting their preference from chemical-based beauty products, owing to safety reasons, and are drawn towards 'natural' and 'safe' products. This, in turn, is likely to drive the adoption of vegan beauty products in the coming years. Furthermore, a growing number of social media channels and beauty bloggers are promoting makeup hacks using vegan beauty products. This, in turn, is boosting manufacturers of vegan beauty products," added Prophecy Market Insights.
With further growth likely, the plant-based revolution has only just begun.
Yield Growth Corp. is Part of that Plant-Based Revolution
Over the last few days, Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) completed an initial 5,000 product run of a new deodorant SKU for plant-based brand, Antler.
"I am proud of our accomplishments in manufacturing plant-based products," says Yield Growth Chief Executive Officer Penny White. "The timing is right for a high quality men's plant-based wellness line, and we are pleased to be able to manufacture the highest quality products for Kingdom Brands."
Kingdom Brands retained Yield Growth to manufacture the deodorants, which is part of a full plant-based men's wellness collection under the Antler brand. Yield Growth completed production of Antler Deodorant as a white label for Kingdom Brands this month. This long-lasting, all natural, plant-based, aluminum-free deodorant is especially well suited for sensitive skin, is packaged to comply with U.S. and Canadian retail regulations, and can be sold directly to consumers via e-commerce.
Then, just this week Yield Growth announced that its natural, plant-based Urban Juve products are now available in select Pharmasave stores in multiple provinces across Canada.
Pharmasave stores in British Columbia, Ontario, Manitoba, and Saskatchewan are already carrying the Urban Juve Hand Sanitizer Liquid Spray, with potential for more products to follow. Additional stores have pre-ordered the Urban Juve Hand Sanitizer Gel, which is expected to be available in August 2020. Other Pharmasave locations have placed orders for all natural products from the Urban Juve skin care line, and those products are expected to hit store shelves in August.
Urban Juve has created a 100% pure plant-based extract line of face and body products that are superfoods for the skin. Urban Juve's natural products let your skin breath and absorb vitamins to keep your skin hydrated. They are rich in Omega 3 fatty acids, vitamins, antioxidants, emollients and proteins with anti-inflammatory properties to provide skin the nutrition needed to stay smooth, healthy and vibrant.
For more information, visit the company's website at https://yieldgrowth.com.
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