According to new research by the PBFA, GFI and SPINS, the plant-based market had a powerful 2019, fueled by alternative meat and milk products. At the same time, an FMI study shows meat consumption is still strong — though often consumed in moderation.
At the annual Consumer Analyst Group of New York (CAGNY) conference this week, leading CPG companies discussed their 2019 results — and plans and strategies for the future. For many, those plans include meeting consumer demand for wellness-oriented products with more offerings, especially in snacking and alternative protein.
To-date, the plant-based meat world has been largely dominated by sausage, burger and ground beef alternatives — Alpha Foods, however, sees a future in faux fowl. Investors are supporting this outlook, with the brand announcing today the close of a $28 million round of investment.
In an interview at the Winter Fancy Food Show, Miyoko Schinner, founder and CEO of Miyoko’s Creamery, discussed broadening the brand’s reach with new plant-based cheeses, including slices, blocks and shreds, a pizza cheese that will launch in foodservice this year and a new cultured oat milk butter.
Capitalizing on the success of a top-selling novelty, organic ice cream brand Alden’s is leaping into dairy-free with the debut of seven dairy-free flavors and two dairy-free treats at the Winter Fancy Food Show this week.
As younger consumers seek flexitarian diets, and are more open-minded about technology’s role in food innovation, both the plant-based and cell-based meat landscapes are growing and diversifying. In this week’s Checkout, Kroger and Tofurky launched new burger products, cultivated meat company New Age Meats raised $2.7 million, and plant-based brand Impossible Foods announced a new pork alternative.
CPG studio Brandable sees an opportunity to disrupt the food industry via distinctive brands catered to young shoppers. Its most recent launch, Veggiecraft Farms, is the first case of Brandable springing into the plant-based CPG set — taking a fresh route through center-store.
Plant-based brand Miyoko’s Creamery wants to ensure consumers can have their cheese — and properly melt it too. The company will debut a line of pepperjack and cheddar cheese slices, blocks and shreds in spring 2020, along with cultured oat milk butter. The brand will also launch a new legume-based pizza cheese in foodservice outlets.
Last week Rep. Anthony Brindisi (D-NY) and Rep. Roger Marshall (R-KS.) proposed the Real Marketing Edible Artificials Truthfully Act (Real MEAT Act) to Congress, which would establish strict guidelines against labeling alternative proteins as “meat.” Although the meat versus plant-based battle isn’t new, up until now, legal action on the matter has happened only at the state level — this is the first federal bill addressing the subject.
To feed the rising demand for plant-based foods, tofu pioneer House Foods America Corporation is increasing its production by 50%.