PALM BEACH, Fla., March 03, 2022 (GLOBE NEWSWIRE) -- FinancialNewsMedia.com News Commentary - Allergen-free foods refer to foods that do not harm the allergic groups involved. Although most consumers do not have any adverse symptoms of food allergens, they may have serious health consequences for sensitive people. Some of the growth factors that are lining the market landscape include growing trend of veganism, increase in number of cases of food allergies, growing awareness around the topic of food allergies, and so on. Additionally, it is also worth noting here that active measures taken by top market players will add to this growth. Absolute Reports said that the global Allergen Free Food market size is projected to reach significant CAGR during 2021-2027. Another report from Future Market Insights projected that the global allergen free food market size is expected to depict a strong positive growth trajectory at 9.0% CAGR between 2020 and 2030. The FMI report said: “The demand for allergen free food is expected to rise amidst the COVID-19 outbreak as consumers are striving to maintain a strong immunity to tackle the disease. Furthermore, revival of world economy would also result in increase of per capita income, which in turn will give impetus to market,” said a lead analyst at FMI. Consumers have become quite health conscious and majority of them spend a significant portion of their disposable income on fitness and well-being. They have also become increasingly aware that along with exercise, a proper diet is necessary to achieve physical fitness.” Active Companies in the markets today include Nepra Foods Inc. (NPRFF) (NPRA.CN), Komo Plant Based Foods Inc. (OTCQB: KOMOF) (CSE: YUM), Hormel Foods Corporation (NYSE: HRL), Tyson Foods (NYSE: TSN), Tattooed Chef, Inc. (NASDAQ: TTCF).
Future Market Insights continued: “Food fortification is enrichment of everyday foods with essential proteins, vitamins, and minerals. Consumer preference for such foods is a result of various factors such as rising incidence of lifestyle-related diseases and weight management. High protein foods aid in maintaining consumer health. Gluten-free bakery products and snacks comprising protein and vitamin ingredients are gaining popularity among consumers. Thus, the trend food fortification is rising, which will in turn support the expansion of the allergen free food market. Due to the increasing competition, manufacturers are focusing on product portfolio expansion and improving product traceability. Besides this, some of the leading companies are focusing on entering into collaborations with regional/local manufacturers in the growing markets.”
Nepra Foods Inc. BREAKING NEWS: Nepra Foods to Disrupt the Mac ‘n Cheese Category with Their First-ever High Protein, Plant-Based, Gluten and Dairy-Free Alternative - Nepra Foods Inc. (the “Company” or “Nepra”), trading on the OTCMarkets under the Symbol NPRFF and the CSE Canadian Exchange under the Symbol NPRA.CN, is pleased to announce the creation of its nutrient-packed plant-based macaroni and cheese heat-and-eat meals. Nepra’s latest innovation will be part of its PROPASTA product lineup to be debuted March 8-12 in Anaheim, California at Natural Products Expo West – the largest tradeshow and exhibition dedicated to natural products, organic food, and medical practices.
The macaroni and cheese category is currently dominated by products containing gluten and dairy, which make them inaccessible to many people trying to cut down on carbs, or don’t tolerate gluten or dairy very well, or simply don’t want to eat food produced from animals. Nepra’s team of food scientists set out to create a plant-based comfort food that not only tastes like traditional macaroni and cheese but is high in protein with balanced carbs. Consumers can feel good about sitting down to a bowl of mac ‘n cheese knowing it is good for their bodies and good for the planet without compromising taste and texture.
“Our R&D team has outdone themselves with the recent creation of macaroni noodles and creamy cheddar cheese, all made from plants. We are taking hemp protein to the next level with our proprietary formulations that are perfectly designed for modern flexitarians who want to eat healthier but don’t want to sacrifice taste,” said Chadwick White, Co-Founder and Chief Technology Officer of Nepra Foods.
Consumers eager to get an early preview can visit Nepra’s PROPASTA booth at Natural Products Expo West for a sample or look for PROPASTA Macaroni and Cheese to be available online and in retailers starting in Q2-2022. CONTINUED… Read this full release for Nepra Foods at: https://www.financialnewsmedia.com/news-npra/
Other recent developments in the markets of note include:
Komo Plant Based Foods Inc. (CSE: YUM)(OTCQB: KOMOF) recently announced that its Plant-Based Lasagna has been named a finalist in the 2022 NEXTY Awards by Natural Products Expo West, in the category of Best New Frozen Product.
The NEXTY Awards recognize the most progressive, innovative, inspiring and trustworthy products in the natural products industry in the United States. Finalists are chosen based on innovation, inspiration, integrity, and impact. A team of editors and trend researchers go through hundreds of nominees to select three finalists in each category. Other nominees in the frozen category include leading products from The Plant Based Seafood Co., Tattooed Chef, Alec's Ice Cream, Deep Indian Kitchen, and Tru Fru.
Hormel Foods Corporation (NYSE: HRL), a leading global branded food company, recently reported results for the first quarter of fiscal 2022.
"We remain on track to deliver our sales and earnings guidance for the year as our team achieved its fifth consecutive quarter of record net sales and grew operating income by double digits during the first quarter," said Jim Snee, chairman of the board, president and chief executive officer. "Our ability to deliver these results demonstrates the strength of our balanced business model and our exceptional execution in navigating difficult operating conditions. This is a testament to our experienced management team, clear strategic priorities and dedicated team members around the world."
Tyson Foods (NYSE: TSN) leadership, Kentucky Governor Andy Beshear, and city officials from Bowling Green broke ground recently on the site of Tyson’s new $355 million bacon production facility. Once operational in late 2023, the 400,000 square foot facility will employ 450 people and help meet growing demand for the company’s iconic Wright® and Jimmy Dean® brands.
“Tyson Foods announced this tremendous investment in Warren County just over three months ago, and I am thrilled to join the company’s leaders for today’s groundbreaking as they quickly move forward with the project,” said Kentucky Gov. Andy Beshear. “This commitment to create hundreds of jobs in Bowling Green is amazing news for the workforce throughout the region and builds on Tyson’s already impressive presence in our state. I look forward to our continued growth together.”
"We continue to benefit from the strength of our brands and our strategy to meet consumers when and where they want to eat," Snee said. "Our foodservice businesses had another outstanding quarter, indicating the value of our direct selling organization and differentiated product portfolio. We also delivered another quarter of growth at retail, led by strong performances from brands such as Columbus®, WHOLLY®, Applegate®, Hormel® Gatherings® and SPAM®, and the contribution of the Planters® business. We continue to support our brands with increased advertising across each business segment during the quarter to support our leading positions in the marketplace."
Tattooed Chef, Inc. (NASDAQ: TTCF), a leader in plant based foods, recently announced that it intends to file a Form 12b-25 with the U.S. Securities and Exchange Commission to extend the due date of its Annual Report on Form 10-K for the year ended December 31, 2021.
On June 30, 2021, the Company determined for the first time, effective at the end of its fiscal year ended December 31, 2021, it would be changing its filing status to large accelerated filer. The Company is now subject to a 60 day (rather than 90 day) filing deadline and due to the accelerated timeline and the substantial growth in annual revenue, the Company was unable to finalize its consolidated financial statements by the March 1, 2022 filing deadline.
The Company expects to file its Form 10-K as soon as practicable and no later than the March 16, 2022 deadline in accordance with Rule 12b-25. As soon as the filing date is confirmed, the Company will provide the timing for the release of its 2021 fourth quarter and full-year financial results and conference call.
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