above food
nasdaq: abve
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NASDAQ: $ABVE
- $200B market opportunity in plant-based substitutes
- Scaled, profitable operator with 260+ customers
- $650M revenue potential, higher margins
- 35,000 retail points of distribution
- De-Spac from $BITE, Former CEO of Merrill Lynch Mexico
🚨Keep a watch on ABOVE FOOD $ABVE!
— Sir Chartist (@ChartBreakouts) July 1, 2024
🗣️Today is the FIRST DAY TRADING For $ABVE
Here is why:
👉Superior economics and advantageous margins
💸$200B market opportunity in plant-based substitutes
🚀Scaled, profitable operator with 260+ customers
🤩35,000 retail points of… pic.twitter.com/aUQWOcclb7
Key Aspects For $ABVE Investors
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Why Above Food $ABVE Should Be On Your RADAR
Executive Overview
Above Food Corp., a regenerative ingredient company, is poised to revolutionize the food industry through innovative regenerative farming practices and a robust seed-to-fork platform. Following its successful business combination with Bite Acquisition Corp. (BAC), Above Food is now positioned as a publicly traded company, ready to capitalize on macroeconomic trends such as food insecurity and increasing demand for sustainable, plant-based foods. This report provides an in-depth analysis of Above Food’s business model, financial performance, growth strategy, and market opportunities.
Company Overview
Above Food Corp. is dedicated to producing high-quality, traceable food ingredients while advancing regenerative farming practices on a large scale. The company’s vertically integrated model ensures traceability from seed to fork, enhancing supply chain security and product quality.
Recent Developments:
- Business Combination Completion: On June 28, 2024, Above Food completed its business combination with Bite Acquisition Corp. (NYSE AMERICAN: BITE), creating Above Food Ingredients Inc. (“New Above Food”).
- NASDAQ Listing: The common shares and warrants of New Above Food will begin trading on the Nasdaq Stock Market under the ticker symbols “ABVE” and “ABVE.W” on July 1, 2024.
Market Position and Opportunities
Above Food is strategically positioned to address several key market challenges:
- Food Insecurity: Approximately 800 million people face hunger globally. Above Food’s scalable regenerative farming practices can contribute to addressing this issue by improving food production efficiency and resilience.
- Supply Chain Disruptions: Events like the Ukraine grain crisis underscore the need for secure and traceable food supply chains. Above Food’s vertically integrated model ensures better control and reliability.
- Consumer Demand for Sustainable Foods: There is a growing consumer trend towards plant-based and sustainable food options. Above Food caters to this demand with its extensive range of plant-based ingredients and products.
Business Segments
- Agronomy & Origination: Focuses on soil and seed optimization to enhance nutrient density and crop resilience.
- Optical Sorting, Sizing & Milling: Advanced processing capabilities ensure high-quality output.
- CPG Manufacturing: Produces consumer packaged goods with a focus on regenerative and sustainable ingredients.
Financial Performance
Above Food has demonstrated significant revenue growth and is forecasted to continue this trajectory. The company’s business model focuses on both organic growth and strategic acquisitions to enhance capabilities and market reach.
- Revenue Growth: From $113 million in FY 2021 to a projected $331 million in FY 2024, including the pro forma revenue from the acquisition of Atlantic Natural Foods (ANF).
- Gross Profit Margin: Expected to increase from 4% in FY 2022 to 7% in FY 2024, driven by a shift towards higher-margin business segments.
Strategic Advantages
- Regenerative Seed-to-Fork Platform: Ensures traceability and supply certainty, creating a strong competitive edge.
- Proprietary Technology: Above Food’s patented food technology and genetic trait optimization enhance product quality and margins.
- Experienced Leadership: The management team has extensive experience in finance, investment banking, corporate governance, and agribusiness, ensuring effective execution of growth strategies.
Growth Strategy
Above Food’s growth strategy focuses on:
- Organic Growth: Expanding its customer base and enhancing product offerings.
- Inorganic Growth: Strategic acquisitions to bolster capabilities and market presence.
- Margin Expansion: Shifting revenue mix towards higher-margin segments and leveraging existing assets for operational efficiency.
Recent Press Release Highlights (June 28, 2024)
- Completion of Business Combination: Approved by shareholders on June 7, 2024, and Bite’s stockholders on April 29, 2024.
- CEO Statement: Lionel Kambeitz emphasized the transformative potential of their seed-to-fork platform to tackle global food security challenges.
- Market Position: With ample capacity to more than double revenue, Above Food is ready to capitalize on the growing market opportunity supported by trends in plant-based foods, traceability, and sustainable practices.
Company Highlights
- Vertically Integrated Model: Ensures superior economics and sustainable growth through control over supply chain entry points.
- US$200+ Billion Addressable Market: Opportunities across key plant-based categories driven by favorable macroeconomic trends.
- Extensive Distribution: Serving over 260 customers with a presence in over 35,000 retail points of distribution.
- High Standards: Verified through certifications such as BRC AA, HACCP, ROC, GFCO, USDA Organic, Certified Kosher, Tested Glyphosate Clean, and Non-GMO Verified.
- Proprietary Seed Genetics: Ongoing improvements through agronomy and natural genetic selection.
- Experienced Leadership Team: Strong commitment to ESG practices and standards.
The Bottom Line
Above Food Corp. is well-positioned to capitalize on the growing demand for sustainable and plant-based foods. Its innovative regenerative farming practices, combined with a robust seed-to-fork platform, provide a significant competitive advantage. The completed business combination with Bite Acquisition Corp. strengthens its market position, providing the necessary capital to execute its growth strategies effectively. Investors should consider Above Food as a compelling opportunity in the sustainable food sector.
Disclaimer
This report is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. The information contained herein is based on sources believed to be reliable, but no representation or warranty, express or implied, is made regarding its accuracy, completeness, or reliability. Investors should conduct their own due diligence and consult with their financial advisors before making any investment decisions.
Sources:
- Above Food Corp. Investor Presentation, November 2023
- Company Filings and Public Data
- Press Release, June 28, 2024
Hate it or love it...its growing demand cannot be ignored!
Sizable, Global Addressable Market for Plant-Based Products
The plant-based product market is presenting a tremendous opportunity, with an estimated addressable market size exceeding $200 billion across various categories. This market is driven by several key segments, each showcasing significant growth potential:
Market Segments and Growth Projections
Plant-Based Dairy Alternatives:
- Market Size: $70 billion
- CAGR: 14% (2023-2030)
- Overview: The rising demand for dairy alternatives is propelled by increasing lactose intolerance among consumers and a growing preference for plant-based diets. Popular products in this category include almond milk, soy milk, and oat milk .
Plant-Based Snacking:
- Market Size: $59 billion
- CAGR: 9% (2022-2026)
- Overview: Consumers are shifting towards healthier snack options, driving the demand for plant-based snacks. This category includes items like protein bars, vegetable chips, and plant-based jerky .
Whole Grains:
- Market Size: $58 billion
- CAGR: 7% (2022-2026)
- Overview: Whole grains are gaining popularity due to their health benefits, including improved digestion and reduced risk of chronic diseases. Products such as quinoa, brown rice, and whole wheat are key contributors to this segment .
Plant-Based Pet Food:
- Market Size: $26 billion
- CAGR: 9% (2022-2032)
- Overview: The pet food industry is witnessing a surge in plant-based products as pet owners seek healthier and more sustainable food options for their pets. This includes plant-based kibbles and treats .
Plant Protein Ingredients:
- Market Size: $15 billion
- CAGR: 7% (2020-2027)
- Overview: Plant protein ingredients are essential for various food products, catering to the increasing protein demand from plant-based sources. Key ingredients include soy protein, pea protein, and wheat protein .
Above Food Corp.’s Strategic Position
Above Food Corp. is uniquely positioned to capitalize on these market opportunities through its vertically integrated, regenerative seed-to-fork platform. By leveraging its proprietary technology and sustainable farming practices, Above Food ensures high-quality, traceable plant-based ingredients and consumer products. The company’s robust infrastructure and strategic focus on sustainability and traceability align perfectly with the macroeconomic trends driving the plant-based market.
Key Advantages:
- Vertical Integration: Ownership and control over the entire supply chain from seed to fork, ensuring superior product quality and traceability.
- Sustainability: Commitment to regenerative agriculture practices that improve soil health and reduce environmental impact.
- Product Diversification: Extensive portfolio catering to diverse market segments, including dairy alternatives, snacks, whole grains, pet food, and protein ingredients.
- Market Growth: Positioned to grow alongside the rapidly expanding plant-based market, with significant capacity for revenue expansion.
Conclusion
The global plant-based product market is set to experience substantial growth, offering a lucrative opportunity for companies like Above Food Corp. to drive innovation and market penetration. By capitalizing on its integrated supply chain and commitment to sustainability, Above Food is well-positioned to deliver superior value to consumers and investors alike, making it a compelling investment opportunity in the plant-based food sector.
Sources:
- Above Food Corp. Investor Presentation, November 2023
- Future Market Insights. “Plant-Based Dairy Market Growth and Trends.”
- Industry Arc. “Global Plant-Based Snacks Market Forecast.”
- Strategyr. “Whole Grains Market Overview and Growth.”
- Future Market Insights. “Plant-Based Pet Food Market Analysis.”
- Market Research Future. “Plant Protein Ingredients Market Report.”
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Trader Notes $ABVE
Innovative Food Company
Above Food Corp. is a leading innovative food company leveraging its vertically integrated supply chain to deliver high-quality, traceable ingredients and consumer products. Its commitment to regenerative farming practices ensures sustainable growth and product excellence, making it a standout in the industry.
Surge in Market Demand
The demand for plant-based and sustainable food products is on the rise. Above Food is well-positioned to capitalize on this trend with its extensive product portfolio and robust infrastructure, ensuring it meets the growing consumer demand effectively.
High Growth Potential
Above Food's strategic focus on expanding its market reach and enhancing its product offerings through organic growth and strategic acquisitions positions it for significant revenue growth. The company’s integrated supply chain and advanced food technology drive superior product quality and profitability.
Sustainability and Traceability
With a strong commitment to sustainability and traceability, Above Food ensures its products meet high standards of environmental and social responsibility. Its regenerative farming practices and proprietary technology provide a competitive edge, attracting environmentally conscious consumers and investors alike.
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Compensation and Advertising Revenue: The Owners and Operators of this publication have been compensated $100,000 for marketing services on behalf of Above Food Corp [NASDAQ: ABVE]. This compensation covers the period from February 9, 2024, to May 9, 2024. In the interest of full transparency, the publisher may receive additional advertising revenue from new advertisers and may collect email addresses from readers, which could be monetized.
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