This Plant-Based Brand's U.S. Expansion Strategy Appears to be Gaining Attention

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

The plant-based food market is projected to reach $163 billion by 2030 , but today, it’s still a relatively new and fragmented industry with dozens of small companies implementing varied strategies and exploring multiple segments. Regardless of segment or strategy, brands seeking a leadership position in the space often look for strong positioning in Canada and the United States, which together accounted for 44% of the $29.4 billion market in 2020.

Among the growing number of small companies competing for industry dominance is Boosh Plant-Based Brands Inc. (OTCQB:VGGIF). The plant-based food manufacturer has reportedly been focused on achieving aggressive growth over the last few years through a strategy that combines diversification, acquisition, and expansion.

In the past months, Boosh has brought its products to supermarket shelves across Canada, including successfully getting its full line of frozen “Heat n Eat” entrees and bowls into every Whole Foods Market in Canada . Now the company says it has its sights set on the United States.

Boosh Partners with Thrive Natural and Vejii Holdings to Expand into the United States

Thrive Natural Sales, an award-winning food broker, is now working with Boosh to launch the plant-based food brand’s expansion into the United States. Boosh says that it chose Thrive to handle brokerage services along with sales and supply chain management in the United States because of the company’s existing relationship with Brandseed Marketing Inc. — Boosh’s Canadian food broker that has helped the plant-based brand achieve such rapid growth over the past few months.

“We believe the synergy will help expedite our growth in the U.S., and [provide] the opportunity to introduce Boosh to as many of the 40,000 US grocery stores as possible,” said Connie Marples, founder, and president of Boosh Food.

In October, the first 16,000 units of Boosh products were exported to the United States. Thrive will distribute the frozen entrees and bowls as samples to key grocery chains and distributors nationwide with the goal of securing agreements to stock Boosh products on American supermarket shelves.

Boosh also signed an agreement earlier this year with Vejii Holdings Ltd. (CSE:VEJI) to build out the e-commerce leg of the brand’s expansion plan. Through ShopVejii.com, Boosh will now be able to offer home delivery of its products across Canada and the United States.

The Outlook for Boosh Foods?

In a landscape as new and fragmented as the plant-based alternatives market, it may be too early to name clear leaders or say with certainty which trends and strategies will come to dominate the space. Even so, some investors are optimistic that the overall shift toward plant-based foods is here to stay.

Boosh hopes that its multi-pronged approach of rapid expansion to turn its brand into a household name, strategic acquisitions to diversify its product portfolio across multiple segments of the emerging industry, and partnerships with early leaders in the space like Beyond Meat Inc. (NASDAQ:BYND) will continue to move it forward in the industry.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.