Is Plant-Based Meat at a Retail Crossroads?
Alternative meat sales continue to plateau at retail following strong performance in recent years. Has plant-based meat reached its peak, or is this just a lengthy chapter in the emerging category’s evolutionary process?
|
|
The Food Institute Conversations
|
|
Plant upcycling may not be new, but it’s been gaining a lot of traction in the food industry these days. What exactly is it? How does it work? And why is it so popular? FI’s Plant-Based Insider Editor Grace Garwood and Digital Media Director Susan Choi take a closer look.
|
|
Quote of the Week
“What we eat and drink is very habitual. So we should be patient as new entrants come into the market.”
-Darren Seifer, Food & Beverage Industry Analyst, The NPD Group
|
|
Impossible Foods filed a lawsuit against Motif Foodworks alleging the company copied its technology for imitating the taste of meat. Specifically, the suit alleges Motif used the protein molecule heme in its plant-based beef products, a molecule which Impossible Foods has protected by patent, reported Reuters. Full Story
Nestlé USA will build a $675 million plant in metro Phoenix to produce beverages including oat milk coffee creamers as consumer demand soars for plant-based products, reported ABC News. Full Story
This month, Delta Airlines will be adding plant-based meat to its menu for the first time. Plant-based burgers and meatless lamb are part of a new five-dish vegetarian menu served on select flights, reported VegNews. Full Story
India’s Evo Foods says it has debuted the world’s first heat-stable, vegan boiled egg. The new development aims to mirror conventional eggs in terms of nutrition and price, reported Green Queen. Full Story
|
|
Financial News
COVID-19 continues to impact Oatly Group AB’s efforts to ramp up production capacity and meet increasing demand. Sales in the fourth quarter of 2021 were hindered by lower-than-expected production at a new facility in Ogden, Utah and foodservice locations closures in Asia, reported Food Business News. Full Story
Plant-based dairy company Goodmylk has acquired nutrition brand PRO2FIT in one of the first M&As in India’s growing plant-based sector, reported Vegconomist. Full Story
One Planet Pizza, a UK-based vegan frozen pizza business, has achieved its initial £200,000 investment target in two weeks by enabling people to buy a slice of the firm through equity crowdfunding, reported Eastern Daily Press. Full Story
Coconut Bliss, formerly a strictly organic, plant-based brand, is expanding its offerings to also include organic, grass-fed dairy frozen desserts under its new name, Cosmic Bliss. Full Story
|
|
IRI Data: Latest 52-Weeks Ending 3.06.22 |
|
HSBC Bank
HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves customers through wealth, personal banking, commercial banking, private banking, and global banking and markets segments. As of the close of business on December 31, 2021 it operated bank branches in: California; Washington, D.C.; Florida; New Jersey; New York; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. In the United States, deposit products are offered by HSBC Bank USA, N.A., Member FDIC, investment and brokerage services are provided through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance products are provided through HSBC Insurance Agency (USA) Inc.
|
|
Know anyone else that would benefit from the Plant-Based Insider newsletter? Please send them the following registration to sign up.
We also welcome your feedback on how we can continue to improve this newsletter.
|
|
CONNECT WITH THE FOOD INSTITUTE |
|
|
|
|
|
|
