Better Foods of Shinsegae Food Participates in NPEW to Accelerate Entry to U.S. Plant-based Food Market
Better Foods, Shinsegae Food's (KRX: 031440) alternative food subsidiary, embarked on the U.S. market expansion by introducing ?You are What you Eat,' a plant-based food brand, at the Natural Product Expo West (NPEW) 2024. The NPEW, a leading exhibition introducing global natural food trends, stands as the world's largest natural food show. It takes place in Anaheim Convention Center, California from March 12th to 16th.
At the NPEW, Better Foods introduced its You are What you Eat brand alongside around ten alternative meat and plant-based home meal replacement products developed with its proprietary technologies. Better Foods also embarked on expanding points of purchase in the local distribution channel by holding on-site tasting events, buyer consultation, etc. for four products such as cold cut, sausage patty, meatball, and minced meat that are ready for immediate use in the U.S. market. Better Foods' exhibition hall drew over 2000 visitors per day, demonstrating considerable interest in the versatility of the company's products for cooking diverse menus. This sets them apart from alternative meat products in the U.S., which primarily focus on raw ingredients.
Following the latest participation, Better Foods has reflected the global plant-based food trend and sped up the U.S. market entry by adopting strategies customized to the local market. In addition to the plant-based products introduced at the NPEW, Better Foods is making new plant-based foods like nuggets, canned luncheon meat, and luncheon slices, designed to meet the needs of American customers and local consumers. Moreover, to expand local marketing reach, the company is accelerating business expansion by hiring personnel with experiences from the leading plant-based food companies.
"By participating in the NPEW 2024, we could verify the global market potential of plant-based food products using healthy ingredients," a Better Foods official said. "Moving forward, we will actively expand into the market by performing marketing activities targeting local consumers using a variety of alternative food products."
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