- Love good fats, the Canadian keto snack bar brand, will launch in 450 Whole Foods stores next month, according to Food Navigator. The brand expects to expand to additional U.S. stores in the months following.
- The brand’s parent company, The Good Fat Co. Ltd, closed a $5 million common share funding round for the keto-friendly bars. The new funds bring the total equity raised to $9.4 million. Investors include individuals and more than 40 CPG executives.
- The bars were quick to win over customers in Canada. During the course of a year, the company expanded from 200 to 2,500 stores.
Many projections place keto-friendly snack foods among the top trends for 2019. Though the demand remains specific and small, more consumers want on-the-go options that meet the high protein, low carb restrictions of a the diet. In part, that’s because people want food options that fit the same health profile as their workouts.
That presents an opportunity for brands like Love good fats, which provide an easy way to stick to a keto diet. Entrepreneurs have been quick to catch on, though few established brands have edged into the keto space. Dang Foods launched a sugar-free plant-based bar earlier this year. Ample K started selling its keto-friendly shake earlier this year. Fat Snax makes a low-carb, sugar-free cookie, and other companies are developing protein shake powders, meal replacement drinks and more.
Love good fats' recent fundraising round appears geared to support the U.S. launch with a full-fledged sales and marketing program. The company has already begun to expand its team and partnered with a Florida-based sales and marketing company. Until now, the company has relied on word of mouth, social media and in-store tastings to build its customer base, founder and CEO Suzie Yorke said in a company statement.
Enthusiasm and energy aside, some take issue with the health claims of a keto diet. Earlier this year, researchers found that despite encouraging immediate weight loss, low-carb diets like the keto plan can increase rates of mortality. Elsewhere, researchers identified links between both high-protein diets and higher risks of heart failure, particularly for men, and Type 2 diabetes.
Whether the growing demand will take into account the potential health risks of a keto diet has yet to be seen. The market shows few signs of slowing down for now. Analysts predict that by 2023 the market for keto products could reach a CAGR of 4.2% globally, though North America will continue to hold the largest share of the market.