Author: Amy Buxton

Where the Plant-Based Industry Is Headed: A Gartner Cycle Analysis

Written by Amy Buxton on August 24, 2023. Posted in Finance, Foodservice, Manufacturing, Retail.

The “boom and bust” of meat alternatives? Analyzing the industry against the Gartner Cycle may provide a more accurate image of how the market is performing and what the future is likely to bring.

In the simplest terms, the Gartner Cycle is a visual representation of the development of new technologies. Data is presented as a graph that documents stages in technology evolution, including adoption, maturity, and social application.

The commercial relevance of the model should not be underestimated. When understood and used appropriately, the Gartner Cycle can offer businesses–and entire sectors–valuable insight into emerging trends and technologies. This, in turn, allows decision-makers to choose where and to invest to maximize company profitability and longevity.

The Gartner Cycle’s five phases

Spanning five definitive moments during the development and acceptance of new technology, the Gartner Cycle can be applied to various sectors, including the plant-based industry. The Financial Times reported as such, back in January 2022, when it claimed that the cycle model could be useful for identifying if plant-based foods are simply a fad or indicative of lasting dietary shifts.

The five phases are:

Innovation Trigger

The first stage of the cycle applies to when a new technology is first introduced. This could generate interest via a ‘soft launch’ or teaser campaigns. Excitement and hype characterize this phase, as people begin to consider the potential of the technology, despite there frequently being little or no qualitative information available yet. Much of this cycle is predicated on potential adoptees of a new technology imagining what it could do for them, in an ideal world.

In a plant-based industry sense, this was observed in companies claiming to have made meat analogues indistinguishable from animal products. Consumer interest was piqued and buyers were keen to try said products.

Peak of Inflated Expectations

This is when the hype surrounding new technology reaches its peak. Optimistic predictions about the technology’s impact are often made, with mainstream media commonly cottoning on at this stage. Early adopters may start to emerge as well, despite the new technology not being ready for full deployment or still experiencing teething problems.

Trough of Disillusionment

Reality hits. This phase sees the initial hype cool and a more realistic assessment of the technology (and its limitations) kick in. For those that took a chance and invested early, disillusionment is a real risk as there is potential to discover that the technology is not as mature or applicable as they hoped.

Beyond Meat’s infamous 2022 stock crash, which came as a result of soaring production costs and legal battles,

Slope of Enlightenment

Here, technology begins to develop further, and its capabilities become more apparent. Companies that wait to adopt this phase have a more realistic overview of how the technology can benefit their organization.

Plateau of Productivity

This is the final phase of the Gartner Cycle when the technology has reached its full potential and has been adopted as a mainstream option. Solutions have been proven, and the results are quantifiable.

The Gartner Cycle is a useful tool for understanding the progress of emerging technologies, plant-based foods included. However, it has limitations of its own, chiefly that it is only a model and can fail to accurately consider factors such as the global economic market, politics, and unpredictable occurrences such as health pandemics, all of which significantly affect meat-free manufacturers.

Where is the Plant-Based Industry on the Gartner Cycle?

The plant-based industry is growing. In 2022, the global plant-based food market was valued at $39.8 billion and is projected to reach $126.9 billion by 2032. The upward trajectory of the sector is being driven by multiple factors, including increased consumer awareness of the environmental and health benefits of plant-based diets, animal welfare concerns, and the development of new plant-based products that mimic meat.

The plant-based industry is–arguably–still in the early stages of growth, but the recent downturn in fortunes for more than one major brand makes it hard to pinpoint exactly where on the Gartner Cycle the sector is as a whole.

It may be still in the Innovation Trigger or Peak of Inflated Expectations phases, as excitement remains high, especially for new products that have never before been perfected. Add in evolving but still young niches, such as precision fermentation for alternative dairy, and there is a case for the industry still being in the initial phases. However, the industry’s recent struggles could indicate that the Trough of Disillusionment has been reached.

Mainstream media has used the dramatic drop in Beyond Meat’s stock prices and Meatless Farm’s recent fall into administration and subsequent rescue by fellow plant-based brand VFC to paint a picture of a sector in trouble. Claiming that the bubble has burst for plant-based meat and alternative diets, many reports fail to consider the socioeconomic factors that have impacted consumer spending, not to mention a potential drop off in health concerns as the Covid-19 pandemic becomes a distant memory for many.

There is potential to dissect the plant-based industry into specific niches, allowing for more accurate cycle pinpointing. For example, mycelium protein development is at peak hype right now. With a handful of companies manufacturing meat alternatives made from mushroom root structures, the potential of the ‘clean’ ingredient is being widely promoted.

On the flip side, established plant-based products made with large amounts of coconut oil and sodium are seemingly losing mystique and may reach a plateau, as consumers search for healthier alternatives to traditional meat.

Comparison to other sectors

While the plant-based industry is growing at an impressive rate (reportedly up to 12.2% CAGR), it is still small compared to meat and dairy, both of which have reached the Plateau of Productivity and are established in the global food system as accepted norms. Though animal agriculture faces increasing consumer criticism and production costs, the meat and dairy sectors are still expected to grow until 2030 and beyond.

Conversely, the plant-based industry faces a number of challenges of its own, including reducing product costs, labeling legislation woes, and the need to improve product tastes and textures. However, the industry also benefits from a number of trends that maintain hype about new developments. These include increasing awareness of the benefits of plant-based eating, celebrities endorsing veganism, and global events such as Veganuary.

Where the Plant-Based Industry Is Headed

It is difficult to predict where the plant-based industry is headed accurately. However, based on the Gartner Cycle and the recognized factors driving the popularity of the sector, it seems reasonable to assume that further growth is on the cards.

The industry is likely to move into the Slope of Enlightenment or Plateau of Productivity phases in the next few years, as health-conscious and ethical consumers embrace plant-based and flexitarian diets. Moreover, as production methodologies for plant-based products continue to improve, hopefully driving down the end cost and improving mouthfeel and taste, formerly skeptical buyers might commit to regular purchases.

At a Glance: How the Plant-Based Sector Became a Catalyst for Food Industry Change

Written by Amy Buxton on August 21, 2023. Posted in Foodservice, Manufacturing, Retail.

Recent declarations from the mainstream media that the plant-based revolution is ‘over’ have resulted in doubts about the sector’s future. Underpinned with constant reminders that even major players, including Beyond Meat, have faced stock downturns, such articles have created a worldwide narrative that seems somewhat grim. In turn, this suggests a fading interest in plant-based products, but the truth is more complex.

Contrary to gloomy headlines, the plant-based industry has been on a steady upward trajectory. Sales of plant-based products–including refrigerated plant-based meats– have surged and plant-based food dollar sales exhibited consistent growth from 2018 to 2021, boasting a 54% revenue increase and a compound annual growth rate of 15.5%.

Looking at the larger picture and overall growth of the plant-based industry, not simply comparing dollar sales from the 2019-2020 boom era to now, gives a more comprehensive overview of the ongoing success of food industry disruptors. What’s more, the sector is anticipated to continue growing, to take larger market share away from conventional dairy and meat, but how has it gotten to this point?

These are the key ways that plant-based food companies have secured their permanent seats at the table.

Resilience in the face of resistance

The rise of plant-based food sales was initiated prior to the global Covid-19 pandemic and maintained its momentum as home cooks began experimenting with healthier and new products. When pandemic restrictions eased and restaurants reopened, trends showed that consumers were looking to try plant-based foods out in public and picking them from grocery store shelves.

In 2020, U.S. retail sales for plant-based foods reached $6.9 billion, and by 2021, they set a new record at $7.4 billion. Despite challenges in accurately tracking sales across multiple channels, the industry’s general interest remains robust and tangible. This points to more than just a trend; it’s indicative of a lasting dietary shift. Research supports this theory as it was revealed that over 2 million people participated in Veganuary 2022, the biggest sign-up since the event began in 2014.

The adoption of plant-based foods during the pandemic has been widely attributed to a desire to embrace healthier diets, alongside increased environmental awareness. Moreover, it was not only vegan consumers driving sales, with flexitarians and vegetarians also contributing. The message was that plant-based foods are for everybody and here to stay.

Understanding what consumers want

Plant-based food companies demonstrably possess a keen insight into the nuanced and changeable desires of consumers. Their ability to cater to both early adopters and the mainstream market paves the way for a more inclusive and vibrant food future.

Vegans and flexitarians are just the tip of the iceberg in terms of potential plant-based buyers. As such, focusing marketing campaigns and data analysis on these groups alone overlooks the broader impact of the industry. Moreover, depending on early adopters would neglect the vast mainstream audience that is increasingly embracing plant-based options in their daily lives. The key is to make plant-based food a choice for everybody, not a niche offering for the few and that is exactly what manufacturers have sought to do.

Retailers also play a pivotal role in identifying and addressing consumer wants. Grocery store shoppers can easily differentiate between premium and value-based offerings and they must be given the opportunity to analyze plant-based offerings in this way. Stocking a range of high-end and budget-friendly meat and dairy alternatives helps to educate consumers about the myriad of products available and curtails unfavorable comparisons. For example, a plant-based Beyond Meat burger is still considered an expensive purchase, especially when compared to conventional beef products. However, budget veggie burgers will offer comparable weight to dollar ratios, with no cholesterol and likely a smaller environmental impact.

To continue growing the plant-based market, consumer education and product diversity are paramount. Marketers and merchandisers have the opportunity to enlighten consumers about the unique qualities of alternative products, thereby fostering informed decisions and lasting dietary change. Meanwhile, manufacturers can begin to experiment with less conventional items in a bid to show shoppers that they don’t have to say goodbye to favorite dishes.

Retail support remains strong

While consumers are certainly creating demand for easy access to a wider selection of plant-based products, retailers themselves are seemingly committed to allocating shelf space to meat and dairy alternatives. This, despite economic challenges they are facing with high inflation and rising supplier prices. The latter remains extra pertinent for the UK, following its departure from the EU.

The sentiment among food service retailers is clear – plant-based options remain a central focus, because consumers want them. They also help retail brands to position themselves as companies that prioritize environmentally responsible practices, a niche that appeals to both boards of directors and consumer bases in an increasingly environmentally-aware world.

Where once a few plant-based products could be found scattered throughout grocery stores, increasingly retailers are seeing the value of grouping such items in a clearly marketed store segment. Whole aisles are now dedicated to meat and dairy-free items and clearly signposted for consumer ease. Such moves are a clear indicator that demand is proven and increasing.

The flourishing future of plant-based

Numerous players have entered the burgeoning plant-based arena and while established brands grow and smaller competitors may fail, overall the market will stabilize, over time. This could take the form of retailers scaling back on new brands in the short-term to promote new products from established brands, or unveil their own proprietary plant-based lines. The introduction of such in-house grocery brands stands to counter perceptions of larger brand decline.

It’s not just retailers that are paving the way for a positive future though as restaurants, particularly quick service chains, play a role too. Limited-edition plant-based offerings, such as the Beyond Meat/KFC nuggets, spark interest that can help to reshape consumption patterns. Supported by permanent meat-free menu items, such releases remind consumers that they can eat the foods they enjoy, with a plant-based twist and for a comparable price. In effect, there is no downside and no loss of convenience either.

In grocery aisles and on restaurant menus, the mainstream availability of plant-based options underscores the industry’s resilience and continued expansion. By 2024, the plant-based dairy and meat industries are projected to achieve market value growth of $7.9 billion and $2.6 billion, respectively. If growth continues along the same trajectory beyond 2024, the plant-based sector will have secured more than just a seat at the food system table – it will be driving radical change from within.

Is Plant-Based Meat Set to Be Replaced with Whole Food-Centric Alternatives?

Written by Amy Buxton on August 14, 2023. Posted in Foodservice, Manufacturing.

Widespread reports that plant-based meat is a sector in significant decline raises the question; what’s next for sustainable and ethical food trends?

While much of the naysaying surrounding plant-based meat can be attributed to inherently compromised sources–including the conventional meat and dairy industries–it is an unavoidable truth that in recent months a number of animal-free brands have fallen on hard times. However, the misfortunes of a few do not herald the state of play for an entire subset of the food manufacturing market.

If plant-based meat truly is experiencing a decline in popularity, it leaves a gap to be filled by another alternative to animal protein and industry insiders suggest that heart-healthy whole foods and vegetable-centric protein sources are set to become the next big thing.

The rise and plateau of plant-based meat

Arguably, 2019 was the beginning of what would be a fast-paced boom for the meat analogues niche. So much so that it has been reported that close to one-quarter of all food products launched that year were vegan-friendly.

The upward trajectory continued into 2020, resulting in the sector being valued at $1.4 billion. The Good Food Institute revealed that plant-based meat was a key driver for US retail sales, thanks to sustained growth between 2019 and 2022 that saw a 45% growth rate. Notably, the same report also revealed that repeat custom of plant-based meat was at more than 60% (63%), marking a potential long-term consumer shift away from meat.

Theories as to the rise in popularity of meat alternatives center around three main motivations: health concerns, sustainability, and animal welfare. The former became a pertinent factor as the world grappled with the Covid-19 pandemic but the stratospheric rise of alt-protein companies proved to be unsustainable.

Why is interest in plant-based meat declining?

Big names within the market have been held aloft as an example of the so-called “boom and bust” of vegan meat products. In the case of Beyond Meat, a lot of media attention focussed on personal falls from grace, plummeting share prices, and falling retail sales. Its singular story has been used as a marker of a sector in serious trouble.

Analysts have speculated that plant-based meat’s overall decline is due to a combination of cost, taste, and new trends. It’s no secret that price parity is a key selling point, with flexitarian consumers not always looking to pay more for a meat mimic that contains no actual animal protein. Flavor and texture concerns have also been raised as a potential sales-killer, with consumers claiming that meat analogues are not yet able to faithfully mimic the sensation of eating an animal protein product.

Earlier this year, the Kerry Group revealed data that claimed plant-based meat needs to be both tasty and delicious to convince consumers to buy it regularly. Additionally, findings included that diners look for deep umami notes, chargrilled, and smoky flavors.

Despite not maintaining 2019 levels of consumer interest, plant-based meat continues to weather the storm with brands releasing new products and announcing fresh tie-ins with major fast-food chains. And why? Because the health and environmental implications of meat consumption are more widely acknowledged and understood than ever before. With this comes a choice: change dietary habits or contribute to personal and planetary downfall.

The emergence of new protein alternatives

A new trend appears to be arising within the wider plant-based food sector that puts whole foods, including beans, pulses and fermented vegetables on the menu. What’s more, they are not trying to mimic meat in any way, nor are they aiming to replace products that do. Instead, they appear to be a whole new niche within the meat-free manufacturing world.

Three key players in the field are Better Tempeh, which produces flavored tempeh pieces for cooking with, Vegbloc, a new vegetable and bean-forward protein source, and Simplicity, which showcases fermented vegetable products. All three appear to highlight their nutritional superiority over traditional meat mimics, with Vegbloc also noting that it is minimally processed, to be a natural alternative to both animal meat and highly processed plant-based counterparts.

Vegbloc becomes even more interesting when you understand that its co-founder, Simon Day, previously founded Squeaky Bean, a well-known UK meat mimic operation that produces a range of deli meats, filets, and chorizo.

“Meat mimics will continue to have a big role in our food system I believe, but there have always been barriers to adoption amongst significant parts of the population,” Day told Plant Based World Pulse.

“When I worked on the meat mimic brand I created, reaction was split between fans and doubters. After leaving that business, I wanted to launch a product that would work for the latter. Something that would help people eat more plants and answer their concerns about the plant-based category as it stood. The barriers for some were mainly around perceptions of meat mimics as overly processed and less healthy, as well as a frustration with the constant comparisons to meat and consequent underselling of delicious plants!”

This potentially explains why, despite the death knell being rung for plant-based meat by the mainstream media, the meat-free food market as a whole is expected to reach a value of $77.8 billion by 2025. Moreover, predictions claim that 2020’s value will be more than doubled by 2030.

Rising numbers of plant-based eaters will drive food trends

“I passionately believe that plant-forward will become a powerful and much broader trend.,” Day told PBWP.

“With growing concerns around highly processed foods, increasing interest in gut health, growing understanding of the benefits of eating a real variety of plants and pressure on global land use, it seems inevitable to me that we will eat more plants. The good news is that it isn’t just necessary, it’s also delicious!”

Consumers are apparently being driven by a revitalized interest in ‘functional’ foods, alongside those that promote healthy gut biomes, making fermented products popular. This, in place of recreations of popular meat and dairy items. As such, companies such as Better Tempeh, Simplicity and Vegbloc are presented with an opportunity to take advantage of a slew of new or curious buyers.

Plant-Based Trends: Are Predictions for 2023 and Beyond Still on Track?

Written by Amy Buxton on August 1, 2023. Posted in Foodservice, Manufacturing, Retail.

Earlier this year Plant Based World Pulse unveiled a white paper that used market analysis and expert opinions to make key projections for the plant-based sector. As the year’s final quarter approaches, it’s time to revisit some key claims and identify if the market is still on track for large-scale success by 2030.

Are major plant-based drivers still working?

The original white paper highlighted the five main drivers of the plant-based sector. Significantly, there has been traction within these key motivators already, however, widespread reporting that the plant-based bubble has burst has called into question the validity of claims that the market will maintain growth. Overall, this appears to be a baseless concern.

Consumers continue to drive demand

Increasing consumer preference for plant-based products was deemed to be a major driver of sales. This was tied to a rising number of the global population choosing to embrace flexitarian or meat-free diets. While consumer dietary shifts still appear to be favoring a reduction in animal products, for some companies, the plant-based uptake has not been enough.

It would be reticent to ignore the fact that two large meat-free brands have recently been rescued from the brink of collapse. Meatless Farm, a UK-founded manufacturer of meat alternatives, was acquired by fellow plant-based food producer VFC after falling into administration in June. Around the same time, Plant & Bean, another UK-based meat-free manufacturer also called in administrators, before being bought by Heather Mills.

Despite facing difficulties, the fate of these two large brands does not diminish rising consumer demand for plant-based foods. Both cited inflation and spiraling production costs as the reasons for their shock shutdowns.

Innovation remains a focal point

As exciting plant-based protein sources, including mycelium, begin to enjoy serious traction, so too do cell-based developments. Though not considered plant-based by virtue of its origin, cultivated meat is moving forward and being touted as an environmentally and ethically superior alternative to conventional animal protein.

In recent weeks, the U.S. has given the green light for lab-grown chicken products to be sold. The move makes the US the second country in the world to approve such foods, with Singapore being the first adopter. Domestic cell-based manufacturers–including Upside Foods–have been striving for approval from the US Department of Agriculture for years and the victory marks a significant milestone in food production.

Venture capital interest is in question

Once the darling of the venture capital investments world, the plant-based sector was recently reported to be significantly less of a draw.

The claims came from the Financial Times, which stated that consumers are less interested in meat-free products and, as a result, so too are investors. Indeed, using data from the financial database PitchBook, the damning article claimed that in the first quarter of 2023, plant-based meat products bagged $75.2m million in venture capital investment, down from $703 million for the same time period, the year before.

While these figures appear conclusive, it should be noted that investment is still reaching plant-based companies. This, alongside a drastic uptick in interest in specialist enterprises prioritizing fermentation and cell cultivation techniques.

Health benefits are being widely reported

Advocates of animal-free diets have long reported the health benefits associated with their dietary preferences, and now the mainstream media appears to be following suit.

This year has seen multiple scientific research reports extrapolated into mainstream news articles that declare a plant-based diet as a valuable weapon against serious and chronic illnesses, including cancer and diabetes.

At the end of 2022, it was reported that consumers were taking far more interest in health and well-being, likely as a result of the Covid-19 pandemic. As such, a consumer trends analysis company GfK survey revealed that 44% of people sampled claim to actively seek out products and services that will allow them to live a healthier life. It appears reasonable to assume that mainstream acknowledgement of the benefits of plant-based eating is impacting grocery buying trends.

On the whole, the main drivers of the plant-based sector appear to still be pushing the market forward but it could be argued that institutional changes are fast becoming a key motivator as well.

Education and healthcare lead the way

Alongside consumer demand for, investment in, and reported health benefits of meat-free products come culturally significant campaigns and legislation. A number of significant developments and protests have placed the plant-based agenda at the forefront of the global population’s minds.

Chief amongst the pro-plant-based is–arguably–the decision by New York City’s Mayor, Eric Adamas, to make all NYC hospitals serve plant-based menu items as the default option. He did so to give patients access to “healthy food” which he described as “medicine.” The move followed a 2022 directive, also launched by Adams, to serve plant-based meals in state schools for one day a week, dubbed “Vegan Fridays.”

Educational establishments have also identified the importance of sustainable menu options. As such, college campuses across the US have seen meat-free meals increase in number, with major food provider Sodexo pledging to make 50% of its menus fully plant-based by 2025. However, it’s not just US students who are happy to ditch meat.

Over in the UK, students have been increasingly demanding that their university catering options remove all animal products, for the sake of environmental benefit. The Plant-Based Universities campaign aims to transform all higher education locations into meat-free settings. Should they succeed, it stands to reason that there will be a sharp increase in demand for meat alternatives, thereby suffering up the sector.

Are plant-based predictions still on track?

The global plant-based sector is expected to reach a value of $77.8 billion by 2025 and to continue growing through 2030, potentially to more than $100 billion. However, these predictions were made during periods of lower inflation and before the impact of the cost-of-living crisis made itself known, both of which have drastically impacted consumer spending.

Despite potential stumbling blocks it is important to remember that plant-based eating is no longer deemed niche and as such, more people are seeking to include meat-free days in their diets. Moreover, it has never been easier to substitute animal products for sustainable, healthful alternatives, especially as major brands look to create plant-based versions of their best-selling products.

Global conglomerate Unilever predicts that plant-based eating will be mainstream by the end of 2023. It identifies a number of trends that will contribute to this, including increased fast food options and climate-impact labeling on food products, alongside the development of plant-based product lines in tandem with conventional releases.

Overall, it appears that the plant-based sector is still on track for growth. Quantifiable 2023 sales figures will be key to adapting expectations for long-term compound annual growth predictions from 2024 and beyond.

Click Here To Read What’s Next For Plant-Based? Trends for 2023 and Beyond, and Other Whitepapers.

Plant-Based Labeling Globally: Where Consumers and Companies Currently Stand

Written by Amy Buxton on July 18, 2023. Posted in Ingredients, Manufacturing, Retail.

Plant-based food labeling is a hot topic worldwide, not least because there is no singular approach. With a myriad of different guidelines in place, informing the consumer and allowing manufacturers to aptly demonstrate what their products are comparable to has become confusing, and, increasingly, a legal matter.

Seemingly, the central issue is not the use of terms such as ‘plant-based’ and ‘vegan,’ but, moreover, the adoption of monikers and adjectives more commonly attributed to the meat and dairy sectors. Specific examples of ire-inducing labeling include plant milk brands using terms such as ‘creamy’ and plant-based meat outfits calling their products ‘sausages,’ ‘burgers,’ and ‘steak.’

While there is no universal labeling rule in place, individual countries and regions have sought to impose varying degrees of censorship on the plant-based food sector. Though some have–arguably–been high profile in their approach, success has been limited as the global plant-based collective has actively fought back.

Plant-Based Labeling in The United States

Currently, the U.S. has no federal regulation of plant-based food labeling. In short, this means that domestic products and imported goods alike can be labeled as they wish, with no limitations on terms traditionally attributed to the meat and dairy industries, but this only applies at a federal level.

Confusingly, U.S. states can impose their own mandates. As such, regions that rely on the meat and dairy industries have been keen to ban plant-based manufacturers from using ‘meaty’ terminology to promote their goods. Texas provides a clear example of this in practice.

Holding the largest number of cattle in the entire US.., Texas is a meat and dairy-centric state. With this in mind, and as plant-based alternatives began to enjoy searing popularity, back in 2021 the House Bill 316 was given the green light by Texas lawmakers. The bill aimed to prevent meat-free manufacturers from using ‘beef’ and ‘meat’ on their packaging.

More recently, Texas’ Republican Governor–Greg Abbott–signed into law a bill that now legally requires all plant-based products to be clearly labeled as such, using pre-approved words. In addition, such signposting now needs to be as large as product names, to avoid “consumer confusion.”

Texas is not the only state to have taken apparent umbrage at the plant-based sector taking market share away from conventional meat and dairy companies. Arkansas, Missouri, Wyoming, and others have all attempted to censor meat-free manufacturers, though many face or have faced lawsuits from plant-based companies.

How Europe is Tackling Plant-Based Labeling

Unlike the U.S., Europe has a number of stringent regulations in place for plant-based food labeling. The European Union placed itself at the center of the issue by drawing up a list of terms that can be used to describe plant-based foods.

At present, companies are unable to label their products as ‘milk’ or yogurt,’ for example, even if they are qualified as being vegan or plant-based. However, manufacturers are able to market their foods as being an ‘alternative to yogurt.’ Similarly, descriptive terms have not been banned, allowing plant-based dairy firms to use words such as ‘creamy’ and ‘buttery.’

In 2020, the EU considered taking plant-based labeling censorship up a notch when plans to impose a blanket ban on terms such as ‘burger’ and ‘sausage’ being used by anyone other than conventional meat product producers were floated. This resulted in a coalition of plant-based companies–led by the Good Food Institute Europe (GFI Europe) and ProVeg International joining forces to oppose the move. A majority of just 48 votes eventually defeated the ban.

However, just as a ban on ‘meaty’ terminology was rejected, the EU voted in favor of similarly restrictive legislation, this time aimed squarely at the alternative dairy market. Had the legal changes gone through, plant-based companies would no longer have been able to package their products in cartons or use recognizable descriptors such as ‘creamy.’

Again, the GFI Europe team launched an awareness campaign to block the censorship. This time drawing the support of high-profile celebrities, including Greta Thunberg, which helped to overturn the proposal in 2021.

Despite such defeats, some EU member countries have sought to impose their own rules. France and Italy, in particular, have taken steps to implement meat-specific terminology bans, though the former was halted by a high court order in 2022.

As in the US, potential consumer confusion is frequently cited as a reason for attempts to censor plant-based manufacturers in the EU.

Sitting within Europe but outside of the EU regulations, the UK is in a unique situation. As one of the largest consumers and manufacturers of plant-based products in the world, it makes little sense to impose costly legislative changes to domestic and imported goods, but the current Conservative government appears to be considering exactly this.

Guidance is currently being drafted that would see tighter rules surrounding the use of dairy-centric words such as ‘cheese’ and ‘butter.’ They could be removed from the permitted plant-based lexicon altogether, even when accompanied by further descriptors such as ‘vegan’ or ‘plant-based.’ Even more concerning is that words spelt to demonstrate their dairy-free but comparable status could also be at risk, meaning that companies which have sought to use terms such as ‘mylk’ could be facing expensive rebranding.

South Africa’s Censorship Swing and Miss

One of the most notorious attempts to block the progress of the plant-based sector came from South Africa, in 2022.

It was announced in June last year that South Africa’s Department of Agriculture, Land Reform, and Rural Development (DALRRD) had implemented an immediate ban on the use of ‘meaty’ words on plant-based products. As such, it was reportedly preparing to seize all plant-based products that did not align with the new ruling, with shelves expected to empty at the end of August.

Plans were halted when the Johannesburg High Court stepped in and granted a reprieve that allowed manufacturers to sell their products, unchanged, until at least May 8th 2023. At the time of going to press, no announcements have been made to suggest the bans or seizures will be revived in South Africa.

If the issue is raised again, it is likely that the South African Meat Processors Association will once again be a staunch supporter. In 2022, it publicly backed the proposed ban and seizures, claiming that the use of meat-centric terms is “misleading for consumers.”

How Confused Are Consumers?

Given the apparent prolific global concern surrounding consumer awareness, ProVeg International commissioned a survey in 2022 to identify the impact of plant-based and vegan food labeling.

In addition to revealing that a majority of buyers prefer the term ‘plant-based’ to more vegan-specific or ‘meat-free’ jargon, the research found that very few individuals consider themselves at risk of buying the wrong food.

Tellingly, 94% of those surveyed said that they are not confused by plant-based chicken items being labeled as ‘nuggets.’ Moreover, more than 80% stated that anything labeled as ‘vegan,’ ‘vegetarian,’ or ‘plant-based’ is obviously free from animal meat. Just over two-thirds (76%) revealed that labels actively help them to make informed purchases.

Speaking at the time about the findings, Stephanie Jaczniakowska-McGirr, director of corporate engagement at ProVeg, noted: “We hope these results will contribute towards creating a favorable regulatory and labeling landscape for plant-based products, particularly when we’re seeing uncertainty around such topics in Europe.”

Plant-Based Catering in further education

Globally, Further Education Embraces Plant-Based Catering. Who Else Will Follow Suit?

Written by Amy Buxton on July 11, 2023. Posted in Foodservice.

The global student body has spoken and asked for easy access to increased plant-based catering options. The demand appears to be underpinned mainly by climate change concerns and the changing dietary habits of younger generations.

While moving towards less meat-centric campuses is a positive move, it has to be asked: who in the corporate world is making similar sustainable inroads, and when will global businesses en masse take a similarly responsible tack?

As of 2022, it was estimated that animal agriculture created 18% of all global greenhouse gasses. This translates to a larger share than all forms of transport the world over, combined. Accordingly, plant-based diets are heralded as a potential way to reduce the food system’s impact on the environment. Moreover, if adopted on a global scale, animal-free diets are said to have the power to reduce food-related greenhouse gas emissions by up to 70%, by 2025.

Armed with robust statistics such as these, the education sector’s open-minded approach to menu transitioning is not just laudable, but essential for planetary survival, but how has it gotten to this point?

U.S. Campus Caterers Prioritize Plant-Based Dishes

Educational catering, worldwide, is making tangible progress towards plant-based as either the default or an easy-to-locate option. This is largely due to a combination of students asking for such moves and catering companies being open to the idea in a bid to lessen their own operational footprints.

The U.S. is a prime example of the latter in action. Sodexo–one of the largest food service operations globally–confirmed earlier this year that it will convert 50% of all its college catering to plant-based dishes, by 2025. The pledge followed a slightly less ambitious promise in 2022, which saw the caterer aim to make 42% of menus meat-free.

The initial reduction target was announced following in-house research into Sodexo’s carbon footprint, whereby auditors discovered that around 70% of the 2020 supply chain impact was attributed to animal-based food products, such as meat and dairy. With a desire to reduce carbon emissions by 34% by 2025, Sodexo identified plant-based menus as a fast route to more sustainable credentials.

Fellow large food service provider Aramak has also committed to increasing the plant-based options served on US college campuses and, like Sodexo, is working closely with the Humane Society of the United States to ensure a smooth transition to more meat-free menus.

Europe Says Yes to Meat-Free Menus

It is not just the U.S. making meaningful progress in moving away from animal-based catering as the default.. Further education facilities across Europe are also shifting gears and embracing more plant-based dining options, with Germany–in particular–shirking off meat-heavy stereotypes.

Since 2021, Berlin students have enjoyed less meat and more animal-free ingredients in their school sustenance. Following demands from learners to take meat off the menu, for sustainability reasons, four separate universities have transformed a total of 34 catering outlets to prioritize plant-based options. The menus across all of the cafeterias are confirmed as 68% ‘vegan’, 28% vegetarian, and just 2% fish-focused. Just one meat-based dish is offered and only four days a week.

Throughout wider Germany, canteen menus are thought to be around 30-50% vegetarian, in line with shifting dietary preferences of diners.

Arguably, the UK is leading the charge for plant-based university catering. Major breakthroughs include the University of Cambridge making all student union cafes fully animal product-free, while simultaneously removing beef and lamb from some of its other outlets. This, alongside actively promoting plant-based alternatives.

London’s Metropolitan University has–seemingly–taken a leaf out of New York City’s book and instigated meat-free Mondays across its canteens. NYC’s predominantly plant-based mayor, Eric Adams, brought in a mandate for public schools to serve meat-free food as the default option on Fridays, with the rule applying across the state.

Elsewhere in the UK, numerous universities have made plant milk the default choice in coffee shops and cafes, promised price parity for plant-based dairy with conventional food products, removed red meat from menus, and voted to significantly increase animal-free menus to make them the majority option.

Students Celebrate Progress But Want More Done

Worldwide, students are already seeing more plant-based options on their campuses, and many want even more to be done, with the U.K’s learners taking the most significant stand.

Last year it was confirmed that students from 20 U.K universities–including King’s College London and the University of Leeds–are calling on administration leaders to convert their entire campuses to fully plant-based catering. Impassioned protests, supported by activist Animal Rising, have been carried out at said universities, with students accusing management figures of complicating climate change by refusing to take meat and dairy out of their canteens.

“Universities claim to be preparing us for the future, whilst also threatening it by selling environmentally harmful animal products. More plant-based options will not alleviate universities’ direct involvement in the climate crisis,” Vaania Kapoor Achuthan, a University College London student, commented last year.

“We will continue campaigning until our universities display actual progress towards 100% just and sustainable plant-based catering.”

The Corporate World Must Follow The Education Sector’s Lead

As universities consider converting to entirely meat and dairy-free menus, corporate work locations must surely also be considering the move.

There are a number of influential organizations that have already taken steps, such as Google prioritizing plant-based meals with higher menu listings, following an unsuccessful stint with Meatless Mondays. Meta (formerly Facebook), Alibaba, and General Motors also seek to cater to their meat-free employees, however, one company took things a step further, creating significant media buzz with its anti-meat agenda.

Coworking behemoth WeWork shocked the professional world when, in 2019, it decided to remove all red meat, pork, and poultry from its events and announced that it would no longer reimburse staff for meat-filled meals that were formerly allowed expenses.

WeWork initiated its effective ‘meat ban’ for environmental reasons and estimated that the move would save 202 million kilograms of carbon dioxide emissions, plus more than 15 million animal lives by the end of 2023. This, with a team of 6,000 staff all complying.

If Walmart, thought to be the biggest company in the word right now, were to follow WeWork’s lead, it would equate to around 2,100,000 people ditching emissions-heavy meat and dairy products during their work hours. Food for thought for the corporate world.

Mycelium Dream: How Fungus Roots Have Captivated Every Sector From Fashion to Food

Written by Amy Buxton on July 3, 2023. Posted in Ingredients, Technology.

As the world scrambles to find sustainable food options and materials, one natural entity can, seemingly, do it all: mycelium.

The root structure of fungus, mycelium resembles a network of encroaching branches and is viewed as a highly efficient ingredient with infinite possibilities. This applies particularly to the plant-based world, where the root is already used to develop nutritious alternative protein products, high-end leather substitutes, and more.

A Sustainability Heavy Hitter

What makes mycelium the environmentally conscious source ingredient of the moment? First and foremost, it is an entirely natural product, found on forest floors the world over. Made from infinitely renewable sources and with no need for external energy to be diverted for its production, the root system grows quickly and efficiently, earning it the title of most abundant organism on earth. Aside from this, it is a powerhouse of regeneration, dispensing vital nutrients into soil as it breaks down and reforms.

In nature, mycelium carries out vital functions, including improving water efficiency and nutrient acceptance of many plants. It is also a valuable food source for a plethora of animals, but it is in the commercial sphere that its full potential is beginning to come into focus.

Thanks to the robust nutritional values of fungus roots structures, including high protein and fiber levels, they are increasingly used in sustainable food production, apparently focusing on creating meat alternatives. But this is not the only sector to have uncovered the vast potential of ‘mushrooms.’

Alongside animal meat, mycelium is being used to replace several other conventional products. So far, these include–but are not limited to–leather, single-use plastic packaging, insulation, and bricks (yes, really), all of which have been created using fermentation.

Though researchers have yet to unlock mycelium’s full potential, some products are already commercially available.

Mycelium ‘Meat’ as The New Alternative Protein

Arguably, mycelium’s most voracious step forward into the consumer sphere is through its fermentation to produce viable meat alternatives.

The newest development in the mycoprotein (a term coined by Quorn in the 1980s) sector, mycelium allows manufacturers to tap into its natural umami taste to create a variety of meat-like products. These can include chicken, beef, and fish, all of which can be made as ‘whole cuts,’ in a step away from more traditional nuggets or pieces. This represents a major milestone for alternative protein and can entice more omnivore consumers to try plant-based steaks and cutlets.

While mimicking the texture and flavor of animal protein, mycelium meat contains zero trans fat and cholesterol and significantly less saturated fat, making it a healthier option. It is also a far more sustainable alternative that carries no animal welfare concerns, both of which are serious considerations for today’s consumers.

As a result, mycelium meat manufacturers are increasing in number and enjoying significant success with their proprietary launches. US-based Meati is a prime example of what is possible with mycelium and consumer openness to a sustainable alternative to animal protein.

In 2022, the company announced pre-orders for its highly anticipated whole-cut chicken-style cutlets. It was the first direct-to-consumer offering, with every product selling out in under 24 hours. Reportedly, 1,116 cutlets were claimed in the first hour alone. Since then, Meati has continued to grow, committing to an 80,000 square foot production facility called the ‘Mega Ranch’ that–when fully operational– will have gargantuan capacity. Meati president Scott Tassani claimed that the site will be able to produce the equivalent amount of meat to 4,500 cows, every 24 hours.

Mycelium Fermentation Technology Moves Forward

While mycelium appears to offer enormous potential for a drastic food system shake-up, investing in the necessary industrial fermentation equipment and expertise is costly. This maintains the ongoing niche factor of the mycoprotein sector. However, in a bid to remove cost and experience barriers, one former mycoprotein manufacturer has turned its attention to providing equipment to other manufacturers.

Kynda, formerly Keen 4 Greens, believes in the power of mycelium to change the current unsustainable food system so much that it has moved away from proprietary production of mycelium meat alternatives. It has now developed plug & play fermentation technology that will allow other manufacturers to tap into the market quickly and with cost-efficiency as a priority.

“We started with mycelium fermentation technology since it offers various product and cost advantages,” Daniel MacGowan-von Holstein, Kynda’s CEO, explained. “Not only is it high in protein and fiber, comes with a meat-like texture and umami flavor, it is clean label and contains all 9 essential amino acids. It also offers consistent quality and security of supply and increased resource and price efficiency (e.g. by-product utilization).”

From Forest Floor to Fashion Catwalks

Mycelium as a meat alternative is an exciting and ongoing development but it is also making waves with its fashion credentials. Thanks to a number of brands including Adidas and Lululemon, plus luxury designer Stella McCartney, mycelium-based leather alternatives are gaining traction and taking opportunities away from conventional leather suppliers.

At the center of the development is San Francisco-based biotech company Bolt Threads. Claiming to be on a mission to create “sustainable versions of the materials people already know and love,” it has enjoyed success with its ‘Mylo Unleather’ line, which is promoted as a mycelium-based alternative to animal and synthetic leathers. Created in under two weeks, using fermentation processes powered by renewable energy sources and vertical farming techniques that minimize land use, Bolt Threads claims to have landed on a truly comparable material to animal skin that treads far more gently on the earth.

Buttery-soft Mylo Is now being used across a vast spectrum of consumer products, from designer handbags to sneakers, and even luxury cars. As the material filters down into varying price points, the ‘leather as default’ consumer mindset will naturally shift to accept sustainable options.

Mycelium Market Predictions

In 2021 the global mycelium market was valued at $2.65 billion. This is expected to grow significantly–at a compound annual rate of 7.80%–to reach $5.21 billion by 2030.

The sector is expected to be largely bolstered by food manufacturing growth, alongside new innovations still in their infancy, such as building materials, skincare products, and more.

Plant-Based in Decline? Three Reasons Why the Mainstream Hyperbole Is Misleading

Written by Amy Buxton on June 22, 2023. Posted in Manufacturing, Public Sector, Retail.

Recent months have seen the mainstream media take up against the plant-based sector, claiming it has had its moment and is now in significant decline. And while some statistics do indicate that buying has slowed, they are not an overarching indicator of a global food niche’s popularity or staying power.

Perhaps most supportive of the Telegraph, BBC, Daily Mail et al. claims that plant-based is over are the removal of vegan lines by brands such as Heck, and the closure of popular companies, including Meatless Farm. The latter was used as an example of the “wider slowdown in the market for vegan food” by the Telegraph.

The publication neglected to reveal that Meatless Farm attributes its closure to rising operational costs, not a lack of consumer demand. In fact, at the time of writing, rumours had already begun to swirl that Meatless Farm was due to be rescued by fellow plant-based brand VFC, which has recently enjoyed vast global expansion.

In order to cut through the mainstream media machinations, it’s vital to consider the plant-based market’s overall progress, not just its current state of play. As such, consumer demand, quantifiable statistics, and interest from the meat and dairy sectors must be considered. And with these in mind, there is a justifiable reason to believe that the plant-based niche is just settling into its long-term groove.

‘Decline’ is Relative

2020 was–arguably–the start of the ‘plant-based boom.’ As the COVID-19 pandemic took hold of the world, consumers scrambled to buy foods they deemed healthier and better. Though it should be noted that the popularity of meat-free items was already in ascent thanks to brands, including Wicked Kitchen, making options available in major supermarkets.

Come summer 2020, plant-based food sales were reported to have more than doubled (243% increase) compared to the year prior. This translated into consumers regularly including 14% more plant-based products in their shopping.

With such an unprecedented backdrop helping to accelerate the acceptance of plant-based foods, it was to be expected that when life returned to normal, things would change. With food system imports and exports resuming and production returning to pre-pandemic levels, the exuberance for ‘healthier’ foods eased off and mass-buying of plant protein evened out to a significantly higher rate than before the pandemic but not as high as during the global health scare.

This is what the mainstream media appears to enjoy reporting on: the relative drop in sales compared to the extreme boom in 2020. However, the current market analysis does not support the press’s naysaying.

In 2022, Straits Research valued the plant-based food market–encompassing meat and dairy alternatives–at $16.45 billion. It is expected to grow at a compound annual growth rate (CAGR) of 9.1% through to 2031, leading to a final value of $36.02 billion. However, this could be a conservative estimate. In 2021, Bloomberg Intelligence predicted that the plant-based food sector would see a value of $162 billion by 2030, accounting for a 7.7% global protein market share.

“Food-related consumer habits often come and go as fads, but plant-based alternatives are here to stay – and grow. Jennifer Bartashus, senior consumer staples analyst at Bloomberg Intelligence, said in a statement at the time. “Meat and dairy alternatives could obtain 5% and 10% of their respective global market shares in the next decade.”

Consumers Are Still Investing

While market predictions remain positive, they are only estimations. Something that could be seen as a far more reliable indicator of a permanent consumer shift is the willing investment of regular people, into plant-based brands.

Barcelon-based Heura, often cited as Europe’s ‘fastest growing plant meat brand,’ proves the meat-free bubble has not burst. It provides evidence that consumers appear not only to want to buy the products but also own stock in the companies that produce them.

Following two successful crowdfunding rounds, which raised more than €8 million from 7,000 in 2021 and 2022, Heura launched its third and final crowdfund project in May of this year. Raising more than €2.6 million in the first 48 hours, the company bagged 3,400 new investors, garnered a total of €3.4 million in investment and set CrowdCube platform records.

Last year, the manufacturer–which makes a range of chicken, chorizo, and burger alternatives–reported an increase in turnover by more than 80%. Its investors, dubbed ‘Good Rebels,’ appear to be sold on the sustainability messaging of the brand, coupled with its heart-healthy products that place olive oil front and center.

Similarly, UK brand THIS launched a crowdfunding project in 2022. Hosted on the Seedrs platform, it raised more than £8 million, double its original target, from 2,890 investors.

Meat and Dairy Companies Are Developing Plant-Based Products

Finally, one of the most compelling signs that plant-based products are here to stay is their development by long-standing meat and dairy giants.

It was just revealed that Cargill, one of the four largest meat companies in the US, is banking on plant-based protein being a major part of its future portfolio. Predicting that the world will need 70% more protein in the next three decades, the meat giant–which embraced plant-based alternatives far later than many of its competitors–is experimenting with a range of protein sources. These reportedly include soy, pea, and wheat.

“We expect, over the next 25 to 30 years, 70% more protein consumption [among] an increasing world population,” Florian Schattenmann, chief technology officer of Cargill, said in a statement. “That protein has to come from somewhere. We want to be that diversified protein supplier.”

The Cargill alternative protein portfolio is expected to grow, with cultivated options being explored alongside animal-free wheat, soy, and pea.

Meanwhile, the dairy sector is also taking note of consumer demand. Sector giant Arla just announced that it is launching a plant-based version of its Lurpak butter range. The announcement has inspired ire from dairy farmers who feel betrayed that such an industry leader would pay lip service to the plant-based trend, just as they claim to be attempting to increase the sustainability of the conventional dairy sector.

Arla’s news follows multiple big-name launches of plant-based dairy alternatives, including Applewood, Cathedral City, and Boursin cheeses.

The Rise of Alt Seafood and How It Is Widening It’s Net

Written by Amy Buxton on June 20, 2023. Posted in Foodservice, Ingredients, Manufacturing.

While the burgeoning discussion surrounds the (supposedly ill-fated) future of the plant-based food sector, one niche remains demonstrably buoyant: alternative seafood.

Promoted as cruelty-free, environmentally superior, and healthier options than traditional seafood, plant-based alternatives have grown in popularity. Moreover, as their potential in the market comes into sharp focus, they are becoming more interesting to entrepreneurs and investors alike. As a result, more startups than ever before are entering the sector, with significant financial backing also following.

Consumer Awareness

One of the main operational motivations cited by alternative seafood manufacturers is their desire to contribute meaningfully to a reduction in commercial fishing, something that has become a major consumer consideration in recent years.

Experts have debated the issue of overfishing for years. Back in 2019 National Geographic revealed that, despite the seas “running out of fish,” large countries were failing to make good on their promises to eradicate government fishing subsidies. In fact, it was discovered that in some cases, financial support had increased, thereby encouraging overfishing to continue.

The debate simmered for another two years before commercial fishing and its environmental impact was thrust into the mainstream spotlight with the March 2021 release of Seaspiracy.

A documentary created specifically for Netflix, by British filmmaker Ali Tabrizi, Seaspiracy shone a light on the true impact of commercial fishing. As a result of the shocking content, the film quickly ranked in the Top 10 most-watched titles on the streaming platform and soon, the media reported on its wider impact.

Less than one month after the film’s release, Metro reported that almost half (42.4%) of those who viewed it considered removing fish from their diet. However, plant-based protein manufacturers spotted an opportunity to replace instead of removing seafood from diets and so, a fast-growing sub-niche of the meat-free market began to gather pace.

The Many Faces of Alt-Seafood

Seeking to offer consumers the seafood taste and mouthfeel that they enjoy, minus animal deaths and environmental impact, plant-based manufacturers are seemingly experimenting with a variety of production techniques and ingredient combinations.

Current Foods is one such company, operating out of the US to fulfill its mission of “pioneering the transition to a sustainable food system, starting with the ocean.” It creates sushi-grade fish-free tuna and salmon, using surprising ingredients that include bamboo, radish, and algae. The result, it claims, is a hyper-realistic seafood alternative suitable for all diners.

Over in Chile, ‘unicorn’ startup NotCo is taking a tech-forward approach to removing seafood from the food system. The manufacturer is considered a pioneer in the use of AI to create food products that look, feel, and taste identical to meat, using only plant-based ingredients. Its in-house AI technology, dubbed ‘Giuseppe’ analyzes existing foods down to a molecular level, before developing a recipe to recreate them without the use of any animal products. Having already mastered chicken, milk, and burgers, NotCo has revealed plans to take on salmon and tuna in the near future.

Precision fermentation is one of the most exciting manufacturing methodologies. Offering the potential for significant sustainability improvements, companies effectively ‘grow’ their products in commercial vats, using microbial cells as hosts. The resulting seafood is considered ‘clean’ (thanks to the highly regulated conditions), scalable, and comparable to conventional items. San Francisco-based Aqua Cultured appears to be one of the front-runners of the sector, having showcased whole muscle-cut seafood analogues back in 2021.

Though not plant-based, it should be noted that lab-grown seafood is also witnessing significant progress. A number of cultivated seafood alternatives have been developed, notably in South Korea, and though regulatory approval has not been granted for the products to be sold anywhere yet, investors note the potential of the sector. Just this month, CellMeat, a South Korean startup that showcased cultivated shrimp, secured $13 million in a Series A fundraising round to bring its products to market.

Startups are Growing in Number

Regardless of production methodologies, one fact remains: alt-seafood startups are springing up in their droves. The Good Food Institute’s 2021 Alternative Seafood Industry Update revealed just how impressive the upward trajectory of the sector is.

In 2021, 120 companies globally were producing fish-free products. This is 21 more than in 2020, with plant-based and cultivated enterprises pulling ahead as the most popular incarnations. Moreover, more countries than ever before are participating in the sector, with Austria, Thailand, and South Africa, amongst others, gaining their first domestic alt-seafood companies.

Growth is being driven by one thing: consumer demand. With more knowledge surrounding the unethical and environmentally damaging practices associated with commercial fishing, shoppers are looking to satisfy their taste buds and consciences in new ways. In the US alone, retail plant-based seafood sales grew by 42% between 2019 and 202. Additionally, a 25% increase in the number of plant-based seafood products being sold through retail outlets was also confirmed.

Arguably the most impressive stats, however, are those relating to investment in the market. Between 2020 and 2021, invested capital in alternative seafood grew by a staggering 92% to reach $175 million, up from $91 million. This represented 24 new investment deals and 108 new-to-the-market investors in 2021. Such trends are not expected to slow.

In 2021, the alternative seafood market was valued at $42.1 million. It is predicted to grow at a compound annual growth rate of 42.3% until it reaches $1.3 billion, by 2031.

“The growing awareness regarding the health benefits of consuming plant-based protein, the welfare of animals, and rising concerns over the environment and sustainability are the key factors that are boosting the growth of the market across the globe,” a report by Allied Market Research notes.

Buy-Outs That Point to Alt-Seafood Supremacy

It’s not just those who are new to the alternative protein scene that are recognizing the opportunity that alternative seafood presents. A number of high-profile acquisitions in recent years prove that the potential for alt-seafood success is no longer a secret, and everybody wants a piece of the action.

Most notably, UK-founded plant-based food brand Wicked Kitchen has bought two alternative seafood operations in less than a year. It first acquired Good Catch in September 2022 and most recently bought Current Foods. Together, the two brands will allow Wicked Kitchen to infiltrate retail and foodservice channels respectively.

Wicked Kitchen already enjoys global success with its consumer-facing plant-based products but is doubling down on its belief that alternative seafood represents a growth sector.

Elsewhere, UPSIDE Foods, a US-based cultivated meat operation, bought Cultured Decadence, a lab-grown seafood enterprise, in January 2022.

“Seafood has a rich and delicious culinary tradition that makes it a favorite across the globe. Cultivated seafood also has a tremendous potential to benefit the world,” Dr. Uma Valeti, Founder and CEO of UPSIDE Foods, said at the time of the purchase. “Cultured Decadence’s technology is incredibly promising, and their team is filled with passionate, smart individuals who want to make our favorite food a force for good.”