The plant-based meat category was already growing before the COVID-19 pandemic. Nevertheless, many plant-based brands have seen huge sales upticks since pantry loading began in March. Now, they need to figure out what comes next.
Sometimes you have to break a few eggs to make a plant-based omelette. When JUST — then known as Hampton Creek — started up roughly a decade ago, founder Josh Tetrick wanted to shake up the food industry. While his goal has remained the same, the path has changed. The company has expanded its strategy beyond its own branded products to form strategic partnerships with a focus on ingredients as the way forward. To start, the company announced this week a new food service partnership with Michael Foods, a subsidiary of Post Holdings and one of the largest processors of egg products in the world.
Rebellyous Foods has more than a nugget’s worth of plans. With a new plant-based chicken nugget launching into limited retail this week, the company hopes its proprietary technology will eventually be adapted by other manufacturers.
As consumers cook at home more, the shift is powering B&G Foods — and fueling its pipeline of plant-based innovations. In its first quarter earnings call this week, B&G reported strong net sales growth and further plans for frozen food brand Farmwise, which it acquired in February.
While production issues currently plague the meat industry, plant-based meat companies are growing. In their respective quarterly earnings calls this week, executives from meat company Tyson and plant-based brand Beyond Meat discussed powering through a pandemic — and trying to develop future strategies despite looming uncertainty.
Nature’s Fynd thinks the plant-based market is ripe for disruption — and that the answer lies inside a volcano. Previously known as Sustainable Bioproducts, the company recently rebranded as Nature’s Fynd to turn its fermented protein — found in Yellowstone National Park’s ancient ‘supervolcano’ — into everyday plant-based food and drink products.
Investors are banking on a plant-based ingredient that behaves like egg whites — with potential use across a broad range of food and beverage categories. B2B food tech startup Plantible announced this week the close of a $4.6M seed round.
With bleeding burgers grabbing the headlines, what’s the future of tofu amidst the plant-based surge? One place seems to be beyond the block — with innovation focused on creating healthy, convenient meals.
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.