Source: Else Nutrition Holdings Inc.
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As more consumers look to shift away from conventional food sources to plant-based foods and proteins, two markets gaining momentum are the plant-based and infant nutrition markets, but what about a stock that stands to service both?

A report from MarketsandMarkets released in August 2022 stated that the global plant-based protein market, estimated to be valued at US$12.2 billion, is projected to reach US$17.4 billion by 2027.

The global infant nutrition market is estimated to reach US$98.90 billion by 2024, according to Mordor Intelligence.

Offering its own unique slice of these markets is plant-Based baby, toddler, and children nutrition company Else Nutrition Holdings Inc. (TSX:BABY), who is focused on developing innovative, clean, and plant-based food and nutrition products. Its plant-based, non-soy, formula is a clean-ingredient alternative to dairy-based formula.

The Israel-based company has seen substantial growth and detailed much of it in its Q2 2022 financial results, highlighting solid revenues and expansion of business.

Q2 at a glance:

Revenues were $2.3 million, a 44 per cent increase versus $1.6 million in Q1 2022, driven by the expansion of the toddler products across all channels, and the introduction of the new Toddler Omega product.

Sales on increased 84 per cent sequentially compared to Q1 2022.

Else products are now listed in more than 3,000 natural food, grocery, and drug stores, as opposed to 1,200 listings in Q1, reflecting a 250 per cent increase in the store count listings. The company expects most of these stores to be actively selling in Q3 2022.

Else Nutrition’s CEO, Hamutal Yitzhak sat down with the Market Herald’s Daniella Atkinson to discuss the company’s strong growth momentum in Q2 2022.

“We are seeing robust sales growth across all channels, most notably Amazon, which grew 84 per cent quarter over quarter. Importantly, we have doubled the number of Else subscribers on in the past three months to roughly 2,000, demonstrating the loyalty that consumers have for our brand and products.”

We also seeing growing sales velocity and reorder quantities with many of our retailers. We are currently listed in over 3,000 retail doors, well on our way to reaching our stated goal of listing 4,000 doors by the end of 2022. Importantly, we are now selling on some of the most well-known online platforms and distributors such as,, UNFI, and KeHE.

Our international expansion plans are progressing very well. In June 2022, we announced our entry into the Chinese market via a signed agreement with Baozun, a leading E-commerce distributor in China. In August 2022 we will enter the Canadian market on, on our own e-store, and in grocery and drug retailers.

Furthermore, we expect to enter the UK the first entry and Western Europe via Amazon  by the end of 2022.”

In Q4 2021 and in Q2 2022 Else concluded two successful preclinical safety studies of its plant-based infant formula, as part of the pathway to bring its Infant formulation to market. Else is on its final preparations for the commencement of the infant growth clinical study to obtain the FDA and European approval  to market its infant formula.

In 2023 the company plans to continue its on going research activity demonstrating the safety and tolerability of the infant formula as well as provide scientific support for Else products.

Investment summary:

Still an early-stage investment opportunity, Else Nutrition Holdings Inc. has grown its business substantially in the past quarter.

In the past month, Else stock has risen 51 per cent and is on track to keep adding to this growth, as the second half of 2022 looks to be a transformative year for the company.

Given the market size, recent expansion, and future expansion, this is a stock that investors would be wise to deepen their due diligence into, as the company continues to widen its product range and drives retail in the U.S., then overseas in Q4.

The company’s incoming product lines are anticipated to significantly widen its product range and make it more attractive to brick-and-mortar retailers.

FULL DISCLOSURE: This is a paid article produced by The Market Herald.

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