On Wednesday, BranchOut Food Inc. (NASDAQ:BOF) announced a partnership with MicroDried, a provider of dried fruit and vegetable ingredients.
This new venture is projected to generate $5 million-$6 million in annual ingredient sales, with the potential for further growth as demand for versatile and high-performance dried ingredients increases.
The collaboration integrates BranchOut’s GentleDry technology into MicroDried’s existing portfolio, expanding the range of ingredient solutions available to food manufacturers globally.
According to Benzinga Pro, BOF stock has lost 15% in the past year.
The partnership will leverage BranchOut’s new 50,000 square-foot high-efficiency facility in Peru to drive large-scale production.
The global freeze-dried ingredient market, valued at $36 billion and growing annually at a 7.6% rate, is seeing an increasing demand for clean-label and cost-effective food solutions.
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With this agreement, BranchOut aims to capture a share of this expanding market.
The partnership enhances MicroDried’s extensive ingredient portfolio, offering food manufacturers improved formulation flexibility and access to superior-quality dried ingredients.
The collaboration also aligns with the growing consumer preference for minimally processed foods and clean-label options.
With initial orders already in production, BranchOut and MicroDried are well-positioned to expand their influence in the global ingredient market, providing sustainable dried ingredient solutions to meet the needs of food manufacturers, according to the company’s statement.
Price Action: BOF shares are trading higher by 3.77% to $1.93 at last check Wednesday.
Image sourced from Shutterstock.
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