- Plant-based lifestyle brand builder PlantX Life Inc. offers more than 5,000 plant-based products through meal and indoor plant deliveries, and the company is working through research and development to introduce new product categories in the coming year
- PlantX is also adding to its physical XMarket store locations, advancing from initial British Columbia and California outlets to new locations in Ontario (Toronto and Ottawa), with further XMarket brand transition under way at stores in the Chicago area of Illinois
- The company is also preparing to open a new store and e-commerce presence in Tel Aviv, Israel this month as part of its first global endeavor outside of North America
- The XMarket physical retail locations have the primary role of enhancing the company’s e-commerce capabilities by acting as fulfillment centers that the company can use to improve its distribution infrastructure and better serve its online customers
- PlantX recently announced the election of directors and the appointment of new auditors to shareholders as further development of its strategy for the new year
Consumer trends indicate the demand for plant-based proteins as an alternative to animal products is growing at a tremendous pace, with a CAGR of 9.7 percent anticipated between 2021 and 2028 to produce revenues of $23.4 billion, according to industry analysts at Research and Markets.
“The growth of this market is mainly attributed to the growing demand for protein-rich diet, growing health & wellness trend, increasing consumers’ focus on meat alternatives, growing demand from…
NOTE TO INVESTORS: The latest news and updates relating to PLTXF are available in the company’s newsroom at https://ibn.fm/PLTXF
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