What is up YouTube, my name is Adam, and this is Broke Man Finance. Today we’re talking a food company that has been making their investors some great money lately, but is it legit or is it hype?
Popular youtubers like @Financial Education & @Financial Education 2 and @Jeremy Lefebvre - Financial Education 3 haha, all of Jeremy's channels!, @Positive Investing @Vincent Chan - Investing & Personal Finance has helped give this company a lot of free advertising but how much of that hype has been priced in.
The company I am talking about it is The Very Good Food Company. I’ve been hearing a lot about it, but I want to know if it’s for real.
I wanted to know if the product is good or not. So, I ordered some burgers, and I’m gonna do a taste test in a few min. to gauge their legitimacy, so make sure to stick around because it is 100% a first-time reaction.
The Very Good Food Company, ticker symbol VRYYF, or Very Good Butchers if you’re looking for them online, is an emerging plant-based food technology company that designs, develops, produces, distributes and sells a variety of plant-based meat and other food alternatives.
Very Good Food Company was born in British Columbia at a farmers market. People kept telling the chef how delicious his fake meat was, so he found some business minded individuals and that was that, with a slogan of we butcher beans, not animals.
The plant-based meat industry has an enormous amount of growth potential over the next few years.
Look at this, the plant meat industry was 10 billion in 2018 and is expected to be nearly 31 billion by 2026. You can also see the cagr there, or compound annual growth rate, of 14.8%. Because this is being looked at on a global scale.
It’s kind of like electric vehicles but with food, and Beyond the Meat being the Tesla in this space. But who will be Nio and who will be Nikola.
Nearly every fast-food restaurant has their plant-based meal version. McDonalds has something, Burger King has something, now Taco Bell is getting plant-based taco meat, and KFC is supposed to be coming out with plant-based chicken tenders. It’s so weird to think about a bean tender.
The company announced a record revenue of $782,790 for the month of November. This represents an incredible 582% increase year over year. Very Good Food believes this strong performance came as a result of increased traffic in its American and online revenue streams. Still, the majority of people have no idea who this company is.
Younger generations are going meatless more and more and it’s no secret that younger generations are more health and environmentally conscious.
Here is an interesting statistic I read that points to a broad market base of young people.
About 80% of Generation Z consumers go meatless once or twice a week. Some are doing it for health benefits. Some are doing it for environmental purposes. Others are doing it with animal welfare in mind. 80% once to twice a week. Regardless what you think about it, that’s a big number.
There are many investors and analyst that believe we are on the cusp of a big change in the way we consume food. No, I am not saying Ribeyes and Filets are going anywhere anytime soon.
But, right now, the amount of plant-based meats we eat is less than 1 %, while some people are saying that over the next decade or more, we could see that number rise to around 20% of the meat consumed.
Now imagine what those share prices would look like if the demand rose to those levels.
Celebrities and sports stars like Kyrie Irving and Venus Williams swear by veganism, and now Pamela Anderson has signed on to partner with Good Foods.
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