In August 2020, Beyond Meat announced it would begin to sell directly to consumers through its website, indicating market leaders see opportunity in the DTC channel. The Very Good Food Company (OTCQB:VRYYF) has achieved strong revenue growth throughout 2020 with Q3 revenue up 26.6% over the prior quarter and annual revenue up 322% YoY. VERY's been successful at establishing brand trust locally and I believe the company's brand promise of high quality, non-processed plant-based foods will resonate with their target audience on a mass scale in the US. Below, is an example of how VERY's prices compare to Beyond Meat's prices (all figures are in Canadian dollars and sourced from a B.C. VERY's new 25,000 sq. The company's mission is to employ plant-based food technology to create products that are delicious while maintaining a wholesome nutritional profile. Therefore, a conservative, forward-looking revenue projection for 2021 is $11.6 million (NYSEARCA:CAD). In my opinion, as governments realize the economic benefits of plant-based diets to their healthcare systems, we can expect them to incentivize the consumption of plant-based meats, further stimulating consumer demand. What makes The Very Group unique? Dining in Vancouver, British Columbia: See 218,733 Tripadvisor traveller reviews of 3,612 Vancouver restaurants and search by cuisine, price, location, and more. The Very Good Food company is looking for a Project Manager specializing in Technology to facilitate and own our vendor selection and subsequent ERP implementation. ft. Rupert facility in Vancouver, the company … As McKinsey research points out: "While there is significant headroom for consumer-packaged goods companies and food manufacturers in the alternative-proteins market, many don't have the necessary production capabilities to capture this market opportunity, nor do they know where to focus their efforts.". Furthermore, major CPG competitors enjoy competitive advantages, such as: While these are significant barriers to VERY's expansion plans, by aggressively pursuing expansion, optimizing their supply chains, and continuing to invest in R&D, the company is taking the right steps to set itself up for success. June 17, 2020 Effective Thursday, June 18th, pending the assignment of a permanent Market Maker, W.D. “We expect to be able to bring the Rupert facility online swiftly and add significant capacity to address current production shortfalls arising from strong demand for our products in Canada and the U.S.” continued Mr. Scott. VERY intends to open a retail location in Vancouver, B.C., which will provide an additional lift in demand in 2021. Very Good Food Company Inc (the) stock and Household & Personal Products market discussion, news, and analysis from Canada's largest community of active investors. Market demand is consistently exceeding production capacity. Smoothies, oatmeal, salads, hot bowls, soups, protein boxes, and a variety of other organic, vegetarian, dairy and gluten-free options are on the menu here. To get to know the unique bites (and sips) Vancouverites love to munch, start with these eleven favorites: JapaDog Vancouver’s original most-talked-about food cart serves Japanese-inspired hotdogs. Investors should exercise caution and take into consideration VERY's shares are up ~536% from June 2020. ), I've watched VERY and its brand, The Very Good Butchers, gain traction in the local economy over the past three years as producers of plant-based foods of the highest quality. As assessment of the equipment needs and commissioning costs is underway with equipment orders for the first production line already in place. Learn how your comment data is processed. CanadianInvestor.com © 2020 by Newmarket Media Inc. You have successfully subscribed to the newsletter. A free inside look at company reviews and salaries posted anonymously by employees. The Very Good Food Company Inc. is an emerging plant-based food technology company that designs, develops, produces, distributes and sells a variety of plant-based meat and other food … It's unlikely VERY will reach even 50% production capacity at the Patterson facility any time soon, still, the bandwidth available supports long-term growth in the US market, enabling VERY to match production as demand increases in years to come. There are two key strengths VERY can leverage to effectively compete with market leaders: VERY's products are exceptionally tasty and their recipes superior to their competitors' product offerings. Bask in the salty, sweet, and spicy tastes of seaweed flakes, teriyaki sauce, miso, As a resident of Victoria, British Columbia (B.C. Least one of its brand position of quality the job of HR Specialist in Vancouver, BC business! 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