Mr. Avtar Dhaliwal reports

MODERN PLANT-BASED FOODS' SEES RISING INTEREST IN INNOVATIVE VEGAN KAVIAR AND SAUSAGE-LESS ROLLS

Modern Plant Based Foods Inc. has seen growing interest in its innovative product lines, including the Plant-Based Kaviar and Sausage-less Rolls. The company has continued to strategize, pivot and innovate, focusing on acquiring and developing great-tasting products that offer an interchangeable plant-based offering in the current market.

The Vegan Caviar market, a relatively new segment in the plant-based industry, has shown impressive growth. Recent reports indicate a global market value projected to reach $400-million by 2025, growing at a compound annual growth rate of 7 per cent. Modern Plant's entry into this market with its Plant-Based Kaviar, available in distinctive flavours like salmon, wasabi and beluga, positions the company at the forefront of this burgeoning sector. Similarly, the market for plant-based sausage rolls is expanding rapidly, driven by a growing demand for healthier and sustainable meat alternatives. Industry analysts forecast a CAGR of 8 per cent over the next five years in this segment, reflecting a significant opportunity for Modern Plant's Sausage-less Rolls.

In response to the increasing interest, Modern Plant is actively exploring a range of potential sales outlets. The company is actively pursuing discussions with distribution partners for its new product lines with a strong focus on penetrating the food service sector, including partnerships with restaurants, cafes and catering companies, both domestically and internationally. To meet the anticipated demand, Modern Plant is open to innovative distribution solutions globally. The company is committed to ensuring the availability of its healthier and more sustainable food products to a broad audience. Modern Plant is actively seeking partnerships with distribution companies that align with its ethos of sustainability and high-quality standards.

"Our goal is to make our Plant-Based Kaviar and Sausage-less Rolls readily accessible to everyone," said Avtar Dhaliwal, chief executive officer of Modern Plant. "We have seen growing demand for great-tasting vegan products that can be consumed by a wider consumer base. We have perfected the product development step and are working to pair these new innovations with expansive distribution networks."

Research from Credit Suisse found that, among consumers ages 16 to 40 across 10 countries, 66 per cent plan to spend more on plant-based meat and dairy alternatives in the future. Yet product development and enhancement opportunities remain, including to improve taste and lower prices, in the plant-based meat category. Taste is the primary barrier to consumption of plant-based foods. According to Mintel, 53 per cent of all consumers agree that plant-based protein products should taste indistinguishable from meat.

About Modern Plant Based Foods Inc.

Modern Plant is a Canadian food company based in Vancouver, B.C., that offers a portfolio of plant-based products, including meat and dairy-free alternatives, soups, and vegan snacks. It takes a holistic approach to plant-based living and understands the importance of providing nutritious and sustainable alternatives to consumers without sacrificing taste. It wants people to feel good about the food they eat which is why it is deliberate in choosing ingredients free of soy, gluten, nuts and genetically modified organisms. Its mission is to change the way food is produced and consumed for the benefit of people, animals and the environment by using natural plant-based ingredients.

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