Plant Based Food Movement

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Plant Based Food Industry

Below is a list of recent reports/articles on the plant-based food movement and industry.

PLANT-BASED FOOD MOVEMENT GAINING HUGE MOMENTUM

  • The link to the article is here.
  • The article reviews the plant-based food movement as impactful and evolving in the US, and globally as well. Big operators are taking advantage of the growing sustainable food and veganism trend, and investing in plant-based foods. The article also references Ecovia Intelligence, which has predicted that 2019 will be the year for plant-based products to go mainstream, in the food industry.
  • Pret A Manger in the UK plans to buy the Eat chain, its competitor, and convert the 94 sandwich shops belonging to Eat, into vegetarian outlets. This expansion has been necessitated by a high demand for plant-based meals. Not long ago, McDonald’s launched a vegan burger called the Big Vegan TS, in the German market. The company already sells its McVegan burger in Nordic countries.
  • Burger King launched a meatless Whopper in the US, while Taco Bell introduced vegan tacos at a few of its outlets in London, in May 2019.

PERFECT DAY PARTNERS WITH ADM TO COMMERCIALIZE ANIMAL FREE DAIRY PROTEINS

  • The link to the article is here.
  • A Silicon Valley startup called Perfect Day teamed up with ADM, a global ingredients giant, to develop and commercialize animal-free dairy proteins. The two companies are the first to make dairy proteins on a large industrial scale, using fermentation.

GETTING TO THE ROOT OF THE PLANT-BASED MOVEMENT

  • The link to the article can be found here (screenshot copy of the article was attached here).
  • The plant-based protein trend has been growing and has now taken center stage. The trend is not about replacing meat products but has to do with the widening of people's diets to include alternatives, such as plant proteins. The blending of animal and plant products is becoming popular, such as the introduction of the mushroom burger, a 50-50 blend of plant and meat.

HOW PLANT BASED REBRANDED VEGAN EATING FOR THE MAINSTREAM

  • The article link is here.
  • The Fancy Food Show in San Francisco had plant-based foods, including cheeses, beverages, and imitation meats. The foods were made from beetroots, cashews, pea protein, and chickpeas, instead of the usual foods, such as hot dogs.
  • Plant-based products, such as plantain yogurts, pea-protein shakes, seitan sausages, and oat milk, are popping up in stores. According to Mintel, the number of new food and drink products in the United States that included the term plant-based in their description, grew 268% between 2012 and 2018.
  • Restaurants have also embraced the plant-based food trend, such as the plant-based pizzeria, the Pizza Plant in Pasadena, in California, and Planta in Miami. Milk wrung from almond, soy, coconut, oat, and peas is now popular, and it's common to find Starbucks serving coffee with soy milk. The impossible burger, cashewgurt, and tofu, are also popular. According to Nielsen data, the sale of these food products went up 20% between 2017 and 2018.

THE YEAR VEGAN JUNK FOOD WENT MAINSTREAM

  • The link to the article is found here.
  • In November 2018, a company making plant-based meat substitutes primarily from peas, called Beyond Meat, went public on the Nasdaq stock exchange, to raise cash for plant-based protein. The company's most popular product is the plant-based Beyond Burger, which can be found in around 11,000 grocery stores in the US.
  • The company targets meat eaters unlike its competitors, such as Gardein that sells non-meat meats, Tofurky that sells imitation poultry, Field Roast which sells fake meats, and Morningstar Farms which sells veggie burgers, all of which mostly target vegetarian consumers.
  • The article also reviews the Impossible Burger, being sold at more than 1,000 restaurants, a cheese company Daiya, debuting non-cheese cheese burritos in 2018, and a vegan fast-food chain By Chloe, expanding its veggie grill.

MEAT-FREE ITEMS EMERGE AS A NEW FAST-FOOD BATTLEGROUND

  • The link to the article is here.
  • Quick-service and fast-food chains, such as Burger King and Taco Bell, have recently and aggressively marketed plant-based menu foods, to attract both meat eaters and vegetarians, as growth for other foods has slowed down.
  • Noodles & Co. increased its sales after it started offering zucchini noodles instead of pasta. Carl’s Jr. also started offering its Beyond Famous Star burger in early 2019, at its 1,100 locations. The product uses the plant-based Beyond Meat product and targets consumers that wish to have an alternative when they reduce their meat consumption.
  • According to the Plant-Based Foods Association, the total market for plant-based foods is going up and increased by 20% in 2018. The sale of plant-based meats also rose 24%. In April 2019, Taco Bell introduced a menu in Dallas that got certified by the American Vegetarian Association. The menu features vegetarian versions of their Quesarito, Crunchwrap products, and the 7-Layer Burrito food products.
  • Using Beyond Meat plant-based products, Del Taco is planning to expand throughout the US with its Beyond Avocado Taco, and Beyond Taco food items. The Impossible Burger has increased in popularity and has been introduced in 5,000 locations in the US, in just 3 years. Burger King is testing an Impossible Whopper in St. Louis, and with around 7,000 locations in the U.S., the chain could popularize the Impossible Burger.

12 PLANT-BASED FOODS COMING TO MARKET IN 2019

  • The link to the article is found here.
  • The plant-based protein industry is not slowing down any time soon, with 34% of people in the US planning to include plant-based food items into their diet, in 2019. Besides, the number of investments in the plant-based food industry went up by 30% in 2018, leading to new product offerings, new startups, and partnerships across the industry.
  • Good Catch in Newton provides plant-based seafood made from beans, helping to prevent overfishing. The company has received funding from investors who gave $8.7 million in the last funding round. According to the Good Food Institute, Good Catch plans to launch a product line of plant-based tuna in grocery stores in the US, in 2019.
  • Califia Farms which already sells plant-based food products such as coconut, almond, and cashew milk, and dairy-free yogurts, added a new milk product line that is made from North American gluten-free oats, at the beginning of 2019.
  • Purple Carrot, that deals in subscription meal kits, is moving onto assembling prep kits that contain only plant-based ingredients. The company received $4 million investment money from Fresh Del Monte Produce in 2018, and this year plans to expand its line to offer breakfast and lunch kits.
  • Chobani, which produces Greek yogurts, launched its first dairy-free foods including 5 probiotic-rich yogurts, and 4 yogurt drinks, made from cultured coconut products. Starbucks launched 2 almond milk drinks at 4,600 grocery stores in the US, at the beginning of 2019.
Sources
Sources

Quotes
  • "Investment is going into plant-based foods from large operators looking to capitalize on the veganism trend and surging demand for sustainable foods. And according to Ecovia Intelligence, 2019 will be the year that plant-based products become mainstream in the food industry."
Quotes
  • "Read through some of the trend projections and market research and it’s easy to see how plant-based has moved more to the center of the stage, if not quite to the center of the plate. Innova Market Insights lists “The Plant Kingdom” as the second-biggest trend for 2019. This has been dubbed “The Year of the Vegan” by The Economist. Research from the Nielsen Co. shows that plant-based product sales are rising by double digits across most categories."
Quotes
  • "In the middle of November, Beyond Meat — a company that makes plant-based meat substitutes — announced it was going public on the Nasdaq stock exchange to better raise money for “the future of protein.”"
Quotes
  • "Noodles & Co. sales surged last year after it began offering zucchini noodles as an alternative to pasta."