Modern Meat announces the launch of its dairy alternative milk line featuring an Oat Milk, Almond Milk and Barista Edition Alternative Milk. The ingredients used in the milks will be all natural, vegan, and GMO free.
The Modern Milks will be focused on creating a high-quality alternative to what is currently on the market, focusing on quality over cost. The Modern Almond Milk will focus on using more nuts than what is currently on the market, with a focus on taste. The focus of its branding will be “Cut Out The Cow!”, which will be featured on each container of alternative milk.
The alternative dairy market is a substantial part of the vegan alternative market as it has already captured 13% of the dairy category, whereas; plant- based meat alternatives have comparatively captured 2% of the meat category. The development of dairy alternatives is drastic as sales for almond milk alone in the United States reached $1.3 Billion, year upon year, ending October 2019. Oat milk has also increased in demand and popularity with companies such as Oatly, which have experienced astronomical growth, as sales have reached 686% year to date.
“The emergence of companies, such as Oatly, has not only taken consumers by storm, but investors as well. I feel it is a timely move for our company to step into the dairy alternative market. The upside and growth potential in this market is substantial. Modern Meat is looking to roll out this department aggressively and fold it into our existing sales channels,” states Campbell Becher, Director and Head of Finance and Merges & Acquisitions of the Company.
“I have long been a consumer of dairy alternative products, and I am very pleased to announce that I feel we have a top of the class product in our early development stages. I’ve been looking for a dairy alternative that focuses first on flavor and natural ingredients. I believe there is a significant gap in the market for this premium product as many consumers of dairy alternatives are focused on quality of ingredients,” states Tara Haddad, Chief Executive Officer of the Company.
The Company is currently in the testing phase for its alternative milk products. Subject to successful completion of the testing and regulatory approval phase, the Company intends to have its alternative milk products available for sale to consumers by August 31, 2021.
About Modern Meat
Modern Meat is a Canadian food company based in Vancouver, British Columbia that offers a portfolio of plant-based meat products. Modern Meat recognizes the importance of providing consumers nutritious and sustainable meat alternatives without sacrificing taste. We are deliberate in choosing ingredients free of soy, gluten, nuts and GMO’s. Our mission is to change the way food is produced and consumed for the benefit of people, animals and the environment by using only natural 100% plant-based ingredients.
