Rising global populations and demand for food are expected to drive growth in the food distribution industry, especially in emerging markets where disposable incomes are growing.
Amid the COVID-19 crisis, the global market for Food Service Industry estimated at US$3.5 Trillion in the year 2020, is projected to reach a revised size of US$4.2 Trillion by 2027, growing at a CAGR of 2.7% over the analysis period 2020-2027. Conventional Food Service, one of the segments analyzed in the report, is projected to record a 3.1% CAGR and reach US$1.7 Trillion by the end of the analysis period.
Two Hands Corporation (OTC: TWOH) is a food distribution company through three on-demand food brands, Gocart.City, Grocery Originals, and Cuore Food Services.
Two Hands Corp’s Gocart.city division, announced that it has expanded its groceries to students’ program.
Through this new program, university students residing in the Greater Toronto Area (GTA) will be able to receive a $50 voucher for their grocery purchases when using Gocart.city.
The company also recently announced that Sales for the first three weeks of October have now exceeded all orders in July and August.
“The company has begun to scale its business, our team has been working hard to roll out new programs and it has been very successful”, commented Nadav Elituv, Chief Executive Officer.
Nadav Elituv continues, “We are building on our existing retail and wholesale while adding new areas of distribution that will allow us to scale the business. We remain focus on revenue growth to support building shareholder value.”
Two Hands Corporation (OTC: TWOH) has a strong business model, and with the company focusing on opening more expansion, we could see a lot more growth in the years to come.
Two Hands stock has done very well in the past, climbing above the $0.0085 levels twice over the past few months and this month, it was looking as if shares had started to claw their way back up again.
The kind of volatility and momentum seen lately in TWOH shares isn’t unusual for a company who is in the food distribution related area. The company is a thinly traded OTC stock, meaning it is highly susceptible to volatile swings on more than average volume.