Modern Plant-Based Foods Inc., (CSE: MEAT) (“Modern Foods”) or (the “Company”), a plant-based food industry leader, is excited to share its initial interest from a major multinational entertainment and media conglomerate. This conglomerate, known for its diverse operations including theme parks and entertainment, reported nearly $32.6 billion in revenue from its parks and experiences in 2023, with its entertainment segment generating over $40 billion. The company holds assets exceeding $205 billion. This engagement could significantly expand Modern Foods’ global reach as they progress through testing and negotiations.
The potential partnership aims to introduce Modern Plant-Based Foods’ Vegan Kaviar across various dining locations owned by the conglomerate. Recognized as the most visited theme park company globally, the conglomerate’s extensive network includes theme parks, water parks, resort hotels, and more, attracting over 157.3 million visitors in 2018. They are actively diversifying their food options to include more plant-based choices.
With the recent launch of its Vegan Kaviar line in Salmon, Wasabi, and Original flavors, Modern Foods aims to tap into a larger market through this collaboration. “This represents a significant opportunity to introduce our innovation in a major entertainment setting,” says Avtar Dhaliwal, CEO of Modern Plant-Based Foods. The company anticipates a rise in demand for its luxury vegan seafood products.
The vegan caviar market is expected to grow at a CAGR of 7.9% over the next decade, reaching a valuation of over $632 million by 2032. This growth is driven by rising environmental concerns and the demand for sustainable, cruelty-free alternatives to traditional fish roe caviar. Modern Plant-Based Foods’ vegan caviar, available in various sizes, offers an affordable and ethical alternative for fine dining experiences.
The company continues to pursue opportunities across large-scale venues and traditional restaurant chains to expand its market presence.
About Modern Plant-Based Foods Based in Vancouver, British Columbia, Modern Plant-Based Foods is a Canadian food company offering a variety of plant-based products including alternatives to meat and dairy, soups, and snacks. Committed to nutritious, sustainable plant-based living without compromising on taste, the company chooses ingredients free of soy, gluten, nuts, and GMOs. Its mission is to revolutionize food production and consumption for the betterment of people, animals, and the environment.
Cautionary Note Regarding Forward-Looking Information This news release contains “forward-looking statements” under Canadian securities laws, which are not historical facts and involve risks and uncertainties. These statements reflect the Company’s current expectations regarding future events, performance, and results but are subject to known and unknown risks and uncertainties, which may cause actual outcomes to differ materially. Such risks include business, economic, and social uncertainties, the COVID-19 pandemic’s impact, legal and regulatory developments, production capacity, retail distribution, market growth, and brand awareness. The statements are based on estimates and assumptions as of the release date and are not guarantees of future performance. The Company disclaims any obligation to update forward-looking statements, except as required by law.
SOURCE: Modern Plant Based Foods Inc.
