Zoglo’s Incredible Food Corp has listed on the Canadian Stock Exchange under the CSE:ZOG ticker. The newly listed company is entering the fast growing marketing for viable meat alternatives, with plants afoot for expansion and white label partnerships in Europe and North America.
Zoglo’s will be leveraging already established Israeli food tech, with license to take the IP out to an international market outside Israel. The company is expanding an existing product suite which includes meat alternative ready meals, to include revolutionary new concepts like meat-free fish dishes and even a prawn ring.
The business actually has its roots with Zoglo’s Vegetarian Choice, which was originally established in Israel in 1987.
Zoglo’s Incredible Food Corp was founded after the sale of Zoglo’s Vegetarian Choice intellectual property to Henry Ender in early 2021. This includes distribution rights to every market in the world apart from Israel, along with the Zoglo’s brand and its recipes.
Leading edge extrusion technology
The new company has been working on 12 SKUs underpinned by new food technology that will leverage leading edge extrusion technology to create products that mimic the look and feel of meat.
The ambition is to make plant-based eating available to all. These products will be non-GMO, they will be kosher and halal, and they will be lactose free, with low sodium and with added vitamins. There will be no preservatives. There will be no cholesterol.
The company is entering a market which looks set to expand rapidly. We have already seen a lot of investor interest around stocks like Beyond Meat (NASDAQ:BYND), Ingredion (NASDAQ:INGR) and Tattooed Chef (NASDAQ:TTCF), with interest echoed by the major fast food chains also looking for meat alternatives which can still look and taste like meat.
Plant-based alternatives market is growing fast
An ever-increasing number of people are now eating plant-based meat alternatives at least once a week, if not more. That translates into a fast-growing market with a CAGR of 11.9% and an estimated size of $74.2bn by 2027, according to data from Research & Markets. We think that might be a conservative estimate.
Zoglo’s products are made from non-GMO soy and pea proteins which are rich in vitamin C, A and iron, calcium, potassium and folic acid. They are high in protein, fiber, omega-3 fats, anti-oxidants, and essential amino acids.
Zoglo’s Incredible Food Corp is a very fast moving proposition which goes well beyond the health food niche and really has the scope to go mainstream. It saw over 200% revenue CAGR in 2020, and we are anticipating the launch of a new product line in the second half of this year.
Zoglo’s revenues are soaring
Revenues by the end of this year (2021) are predicted to be twice what they were in 2020. The company is forecasting aggressive sales growth with revenues hitting C$20m in 2023 (1H) and possibly as high as C$43m by the end of that year.
Zoglo’s is focusing initially on the Canadian market, but Europe seems to be a particularly ripe market for Zoglo’s Incredible Food Corp, as both a demand for healthier food is combining with more awareness of how livestock farming, including beef farming, is proving harmful for the planet.
We anticipate a gradual shift against mass market beef farming in years to come, with many big investors reconsidering investments in the sector.