“We have seen a huge buzz around other plant-based food sectors, and I think we’ll start to see a new trend established with other low-sugar and vegan confectionery companies coming to the public market.”

Vancouver based confectionery brand Yumy Bear – offering a line of low-sugar and vegan gummy – is eyeing an IPO valued at $50 million, according to reports.

The company has already raised $2.5 million in an oversubscribed round and hopes the IPO will get new investors on board.

It will start trading on the Canadian Securities Exchange (CSE) next month under the symbol “YUMY”.

While the gummy maker expects sales to reach $1 million by the end of this year, it is also planning to expand to other markets in 2022.

Yumy Bear

The Canadian vegan candy brand was launched by fitness coach and athlete Erica Williams on identifying a market gap for healthier as well as affordable candy alternatives.

It uses non—GMO verified plant-based ingredients and a proprietary formulation process to make juicier and softer gummies.

Each serving packs in three grams of sugar, 21 grams of fibre, and 115 calories.

Yumy Bear currently offers peach and strawberry-kiwi flavours, and each bag is approximately $1 to $1.5 cheaper than its competitors.

‘Huge buzz around plant-based food sectors’

“Our products taste amazing, and they’re naturally sweetened without sugar alcohols or artificial sweeteners,” Williams told Forbes.

“Yumy Bears don’t get stuck in your teeth, and having that animal welfare and sustainable factor is really important to us.”

She added: “We are currently the only healthy gummy company the public can invest in.

 “We have seen a huge buzz around other plant-based food sectors, and I think we’ll start to see a new trend established with other low-sugar and vegan confectionery companies coming to the public market. 

“I think the buzz around the IPO will attract additional investors that will allow us to continue our expansion and aggressive growth strategy.”

Market research reveals that the global jellies and gummies market is projected to reach $ 2.73 billion by 2025.

• Read: Wendy’s trials spicy black bean burger in move to increase plant-based meat menu options

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Mohsina Dodhiya

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