Industrial food ingredients are expected to become a valuable additional commercialization channel
The company plans to build an in-house sales and marketing team to pursue new channels.
BranchOut Food plans to showcase its products and services at the ITF Annual Expo in July 2024.
BEND, Ore., June 25, 2024 (GLOBE NEWSWIRE) — BranchOut Food Inc. (NASDAQ: BOF), a leading food technology company specializing in dried fruit and vegetable-based products, today announced its entry into the industrial food ingredients market as part of its commercialization strategy. The global industrial food ingredients market is valued at $335.32 billion in 2023 and is projected to reach approximately $511.33 billion by 2032, at a compound annual growth rate (CAGR) of 4.8%.
“We are excited to enter the commercial food ingredients market with BranchOut Food’s high-quality fruit and vegetable products. Our consumer packaged goods (CPG) customers consistently point out an increased need for high-quality, unique ingredients, and we look forward to being a trusted partner and supplier to these well-known national brands,” said Eric Healy, CEO of BranchOut Food.
“BranchOut Food believes it has a significant competitive advantage in this space due to its proprietary technology and ability to deliver innovative new products that were not previously possible, as well as its large manufacturing facility in Peru. Our proximity to Peru’s abundance of fresh fruits and vegetables gives us the freedom to maintain in-house control over quality control and cost of goods.”
“We recently purchased EnWave’s fourth radiant energy vacuum (REV) machine, a 100kW nutraREV system, which will enable us to meet the growing demand for our branded and private label products from some of the country’s largest retailers and well-known brands. The machine is highly optimized and efficient for producing premium fruit and vegetable pieces, fragments and powders with superior quality, throughput and profit margins.”
BranchOut Food is building an in-house sales and marketing team to drive this channel.
The company will participate in the IFT FIRST annual expo in Chicago, Illinois in July 2024. IFT FIRST will bring together researchers, scientists, engineers and entrepreneurs from across the global food value chain to discuss scientific solutions in presentations and panels focused on transformative innovation.
About IFT
Since 1939, the Institute of Food Technologists (IFT) has been a forum for professionals and technologists passionate about food science to collaborate, learn, and contribute, with the goal of inspiring and translating collective scientific knowledge into innovative solutions for the benefit of all people around the world. As a purpose-driven scientific community, IFT cultivates the intellect that feeds the world.
About BranchOut Food Inc.
BranchOut Food is an international food technology company providing truly great natural snacks and real superfood ingredients made possible by licensed dehydration technology. The company’s GentleDry technology is the next generation of dehydration technology, preserving up to 95% of the original nutrition of fresh fruits and vegetables. BranchOut’s technology is protected by over 17 patents. BranchOut Food is proud to be a leading provider of high-quality dehydrated fruit and vegetable-based products, and its commitment to quality and innovation has set it apart as a trusted brand and private label supplier. For more information about BranchOut Food Inc. and its products, visit www.branchoutfood.com or follow us on LinkedIn and Twitter.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations or forecasts of future events. Forward-looking statements may be identified by the use of words such as “anticipate,” “intend,” “seek,” “target,” “project,” “believe,” “expect,” “estimate,” “plan,” “outlook,” “project” or other similar expressions that predict or indicate future events or trends or are not statements of historical fact. Forward-looking statements regarding BranchOut Food, Inc.’s (the “Company”) operations, strategies, prospects and other aspects of our business are based on current expectations that are subject to known and unknown risks and uncertainties. These risks and uncertainties could cause actual results or outcomes to differ materially from the expectations expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Although the Company may independently update or revise these statements from time to time, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
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