Global Allergen Free Food Marketplace Booming as Additional Ingredients are Introduced to Consumers

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Apr 20, 2022, 08:30 ET

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla. , April 20, 2022 /PRNewswire/ -- Allergen free products mostly include lactose free and gluten free food products that cause allergies to a considerable fraction of the population. The increasing population of lactose intolerant people is expected to boost the revenue generation of the allergen free food products market over the next couple of years. In addition, an increase in awareness about the availability of such products is assessed to play a major role in encouraging the growth trajectory of the market in the years to come. The rising burden of diabetes is also projected to motivate the revenue growth of the global allergen free food products market. Allergen free products also include sugar free products for the diabetic population who are barred from having sugar. It is projected to expedite the expansion of the allergen free food products market in the foreseeable future. A recent report by Market Research Future (MRFR) has asserted that the global allergen free food products, the market is set to exhibit steady growth through 2023. The report said: "Increasing investments in research and developments are poised to unleash developmental opportunities for market players. However, on the flip side, premium pricing policies implemented by the industry leaders are anticipated to restrict the growth of the allergen free food products market in the forthcoming years." Active Companies in the markets today include Nepra Foods Inc. (OTCQB: NPRFF) (CSE: NPRA), Oatly Group AB (NASDAQ: OTLY), The Very Good Food Company Inc. (NASDAQ: VGFC) (TSX-V: VERY), Beyond Meat, Inc. (NASDAQ: BYND), Else Nutrition (OTCQX: BABYF) (TSX: BABY).

Market Research Future continued: "The market is anticipated to witness rising investments by market participants in research & development for the development of their product profiles. In addition, the rising demand for the product is likely to encourage the players to innovate new products for the expansion of their shares in the allergen free food products market over the next couple of years. This, in turn, is projected to boost the revenue growth of the market in the years to come. Regional expansion is also anticipated to be observed in the region, supporting the growth of the market. The expansion of regional boundaries by key players is poised to motivate investments in developing economies. The geographical analysis of the global allergen free food products market spans across North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to hold the dominant position in the global marketplace over the next couple of years. Growth strategies executed by the market players based out of the region is projected to motivate the growth of the regional allergen free food products market. In addition, the rising diabetic and lactose intolerant population is also expected to impact the expansion pace of the regional market favorable in the years to come."

Nepra Foods Inc. (OTCQB: NPRFF) (CSE: NPRA) BREAKING NEWS: Nepra Foods Samples Its Vegan, non-GMO Nepra Foods Begins Initial Production of Textured Hemp Protein to Drive Consumer Products and Food Service Sales - Nepra Foods Inc. (the "Company" or "Nepra"), the creator of nutritious plant-based and allergen-free food, is pleased to announce the initial production of its textured hemp protein (THP™) to drive Consumer and Food Service sales. THP™ is a foundational ingredient required to produce a variety of meat analogs, including plant-based alternatives to beef, chicken, and pork, and is used to create Nepra's signature meatballs in its PROPASTA™ line of frozen meals. Nepra's shelf-stable THP™ will be sold wholesale and shipped dry allowing food producers to create great tasting allergen-free plant-based meat items for their customers.

"We founded Nepra Foods with a vision to make healthy and sustainable foods available to a growing base of consumers who want allergen-free options that taste amazing," said David Wood, Chief Executive Officer of Nepra Foods. "To our knowledge, Nepra's textured hemp protein is the first to market. Nepra's proprietary formulations and manufacturing processes allow us to create a superior plant-based protein that is extremely neutral in taste and allergen free making it an ideal alternative to textured proteins made entirely from soy and pea that make up most of the market today."

Leading plant-based meat products on the market today are mostly made from either soy or wheat protein, which are recognized as allergens, or pea protein, which has a strong flavor. Allergen-free hemp delivers a complete plant-based protein that is high in essential amino acids and has the proper ratio of omegas 3, 6, and 9. Industrial hemp is an earth-friendly crop that sequesters twice as much carbon from the atmosphere as trees and is naturally pest-resistant so it can be grown without harmful pesticides. CONTINUED… Read this full release for Nepra Foods at: https://www.financialnewsmedia.com/news-npra/

Other recent developments in the markets of note include:

Beyond Meat, Inc. (NASDAQ: BYND), a leader in plant-based meat, recently announced that it is significantly increasing the availability of its Beyond Chicken^®Tenders at leading retail outlets across the country, including supermarkets, pharmacies and club stores. Starting today, Beyond Chicken Tenders are available at select Albertsons, CVS, Sprouts and Whole Foods Market stores nationwide, and are expanding into all Kroger banners throughout April. With this expansion, Beyond Meat, the #1 selling plant-based meat brand in the refrigerated category in retail and across total foodservice, continues to increase accessibility to delicious plant-based protein for consumers everywhere.

Beyond Chicken Tenders deliver the crispy, juicy and flavorful chicken tender experience consumers know and love, with the added nutritional and environmental benefits of plant-based meat. Made from simple, plant-based ingredients, Beyond Chicken Tenders have 50% less saturated fat than the leading brand of traditional breaded chicken nuggets, and no antibiotics, hormones or cholesterol. The protein in Beyond Chicken Tenders is derived from the nutrition-packed faba bean, an optimal ingredient for replicating the taste and texture of traditional chicken tenders.

Oatly Group AB (NASDAQ: OTLY) recently announced that for 2021, its two North American production facilities, located in Millville, NJ and Ogden, UT sourced 100% renewable electricity for the first time. Oatly sourced renewable energy certificates issued for renewable electricity generated in part from our oat fiber residue as well as wind and solar. This initiative contributes towards reducing the Company's overall corporate climate footprint.

"As we grow and reach more consumers with Oatly's products, we're focused on trying to be responsible stewards of the planet, which means trying to limit our environmental impact and greenhouse gas emissions," said Julie Kunen, Director of Sustainability, Oatly North America. "We want to lead by example, and that of course includes how we operate our production facilities. Our procurement of 100% renewable electricity in our North American production facilities for 2021 is a significant milestone towards achieving our global sustainability ambitions."

The Very Good Food Company Inc. (NASDAQ: VGFC) (TSXV: VERY.V), a leading plant-based food technology company, recently reported its financial results for the fourth quarter and year ended December 31, 2021.

"Q4 2021 was another strong quarter for VERY GOOD, with solid year-over-year growth across our eCommerce and wholesale channels," said Mitchell Scott, co-founder and CEO of VERY GOOD. "We successfully expanded our presence in the US retail market, bringing our North American store count to 1,395 by the end of 2021 and 1,651 at the end of March 2022. Our revenue in Q4 2021 was 70% higher than the previous quarter and partly supported by seasonal demand for our holiday products including the Stuffed Beast."

"VERY GOOD achieved certain of its strategic objectives for 2021 including scaling production, deepening brand awareness, expanding into U.S. wholesale, and launching innovative new products. 2021 was a year focused on investment and top-line growth, and 2022 will be more measured and focused on establishing a clear path to profitability."

Else Nutrition (OTCQX: BABYF) (TSX: BABY) recently announced the release of its plant-based Else Super Cereal for babies, furthering the brand's mission to provide families with sustainable, dairy-free alternatives of complete nutrition products for toddlers and kids. Entirely plant-based, organic, non-GMO, made with whole natural foods, gluten-free, and packed with essential vitamins and nutrients. The four-flavor range of cereals offers parents a true alternative to today's standard baby cereals. Else Super Cereal provides a unique combination of nutritionally balanced, high-quality proteins (with all nine essential amino acids), healthy fats, gluten-free carbohydrates, and 20+ essential vitamins and minerals.

The launch of Else Super Cereal reinforces our mission to lead the clean, healthy revolution for babies and children... Else Super Cereal was tested in the U.S. and granted the Clean Label Project Purity Award, which analyses products for over 400 impurities, heavy metals, toxins like arsenic, lead cadmium, and others. Else uses the cleanest ingredients, all sourced in the U.S. and Europe, and a patented processing method to ensure the highest purity for babies as they are weaned or introduced to new foods.

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