Modern Meat Inc. (CSE:MEAT; CUSIP Number:60765L) is an award-winning Canadian plant-based meat company disrupting the food industry by providing soy-, gluten-, nut-, and GMO-free alternatives to traditional meat products. It started trading on the Canadian Stock Exchange on June 30. 2020 at C$2.09 and is already at C$3.19 for a gain of up 53% in less than four months.
Written by Lorimer Wilson, managing Editor of munKNEE.com – Your KEY To Making Money!
Its Growth To Date
Recognizing a gap in the market for nutritious and satisfying meat alternatives that were soy-, gluten-, nut-, and GMO-free the company quickly became the fastest growing alternative-meat company in Canada. With that, the company began to consistently sell out of its products in spite of maximum production so it has bought of a new production facility in British Columbia which is expected to more than quadruple its manufacturing capabilities. This will allow the company to follow through on its intention of expanding into the U.S., one of the leading countries in the vegan movement, in the near future.
Currently, the U.S vegan population is 3% of the country’s total population (i.e. approximately 10 million people) and the trend is increasing each year. The global vegan food market value is estimated to reach around US$24.3 billion by 2026 and will grow at CAGR above 9.1% over the forecast time frame.
Its Future Plans
To meet the above mentioned market trend, and to fill the gap for nutritious (their patty product contains 14 grams of plant protein per 100-gram patty and only 6 grams of fat compared to approximately 20 grams of fat in a regular beef burger) and satisfying meat alternatives the company has implemented an aggressive sales and distribution plan to continue to roll out its core products throughout Canada and into the U.S. in 2021 with the aim of introducing one new product each quarter to food service and retailers.
Modern Meat Inc. reported revenue of C$0.02 million and a net loss of C$0.19 for its most recent quarter.
Its Stock Performance
As mentioned in the introduction Modern Meat started trading on the CSE (Canadian Stock Exchange) on June 30, 2020, at C$2.09 and is already at C$3.19 for a gain of 53% in less than four months.