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Toronto-based Zoglo’s Incredible Food Corp. (CSE: ZOG), a plant-based food company, has signed an agreement listing its products with Foodland, a Canadian supermarket chain, strengthening its presence throughout Ontario.

Foodland, which has 136 stores in Ontario, will carry six of Zoglo’s products from its Incredible product line. Foodland is a subsidiary of Sobeys Inc. and also operates more than 200 stores across Atlantic Canada. Zoglo’s has secured distribution agreements for its products in more than 700 retail stores across Canada, including Walmart, Shoppers Drug Mart, Sobeys and Loblaws, and has representation in the United States and Europe.

Anthony Morello, CEO of Zoglo’s, said: “We are eager to begin our partnership with Foodland in their Ontario stores, with the potential of expanding into their stores across Atlantic Canada. This is another step in the right direction, as Zoglo’s continues towards becoming a household name.”

Plant-based, non-GMO and nitrate free

Zoglo’s Incredible Food Corp. has a range of plant-based, non-GMO and nitrate free appetizers, vegetables and meat substitutes for everyday cooking. Zoglo’s currently offers 14 products through its Traditional Green Box product line and aims to offer 12 new products for the mainstream market through its new Zoglo’s Incredible Black Box product line.

The company’s soy-based products are made with concentrated non-GMO soy, known to be the only legume that is a complete protein containing all essential amino acids. It is rich in vitamins C, A, iron, calcium, potassium and folic acid, and is high in fiber, omega-3 fats and antioxidants. Its non-GMO bean-based products are made with peas, fava beans and mung beans, which are a source of protein, vitamins C and E, and zinc. Other nutrients in the mix are vitamins A and B and coumestrol, which help reduce inflammation and lower risk of chronic conditions, including diabetes, heart disease, and arthritis.

Growing demand for meat alternatives in Canada

Zoglo’s products cater for the growing demand for meat alternatives in Canada. Its products are pitched at consumers who are increasingly concerned about the carbon footprint of the meat industry but do not want to give up the taste of meat. To underline its environmental credentials, Zoglo’s says its products are made using significantly less water than traditional animal products, while cattle are also the main agricultural source of greenhouse gases worldwide.

According to Statista, the retail sales value of meat substitutes in Canada for 2022 is forecast to be $227m, a 43% increase on the $159m confirmed for 2018. Data from market researcher Nielsen says the plant-based foods industry in Canada is worth more than $500m. The industry is also benefiting from government support in the form of significant federal grants to companies, and in the creation in 2018 of a $3m Protein Industries ‘supercluster’ designed to foster the growth of the industry, with the aim of adding more than $4.5bn to Canada’s economy over the next decade.

A survey by ProdegeMR in July 2020 found that almost 37% of consumers said they were willing to reduce their meat consumption, 17% would probably do so, and around 9% were fully intending to do so. There are around 2.3 million vegetarians and 850,000 vegans in Canada.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

James Norris

James Norris

James is a highly experienced writer and editor, gained from more than 20 years in the financial services industry, in particular wealth management and asset management.

He initially worked as a financial journalist for a number of leading media brands, including the FT Group, Financial News, Euromoney and Incisive Media, covering most aspects of the asset management industry. More recently, James switched to work as an in-house content specialist for fund management and wealth management groups, including JP Morgan Asset Management, Quilter Cheviot Investment Management, AXA Investment Managers and Invesco Perpetual.

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