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36 Companies Join Forces to Disrupt the Seafood Market

Written by PBWPulse on . Posted in Foodservice, Investment, Manufacturing, Retail, Trends.

As consumers increasingly seek sustainable and healthier alternatives, a major transformation is underway in the plant-based seafood sector. A recent article by VEGNEWS highlights a groundbreaking initiative named Future Ocean Foods, uniting 36 companies across 14 countries in a collective effort to revolutionize the $330 billion seafood industry with innovative plant-based alternatives.

The seafood industry has long been associated with health benefits, but the environmental impact of ocean farming and the health concerns related to consuming seafood from polluted oceans are prompting a shift in consumer consciousness. This has paved the way for plant-based seafood to emerge as a viable and conscientious choice.

The Rise of Future Ocean Foods

This ambitious coalition is making waves by developing plant-based alternatives to a spectrum of seafood, from tuna to calamari and sushi. By pooling resources and expertise, these companies aim to challenge the traditional seafood market, which has struggled to address sustainability concerns and shifting consumer preferences.

What It Means for Retailers and Restaurants

For retailers and restaurants, this initiative signals a pivotal moment. The collaboration of 36 companies from diverse corners of the globe is a clear indication that the plant-based seafood trend is not only gaining momentum but is set to disrupt the market significantly.

Key Insights for Businesses

  • Anticipate Growing Consumer Interest: As awareness of the environmental and health impacts of traditional seafood grows, consumers are likely to seek out plant-based alternatives. Be prepared to meet the rising demand for sustainable and ethical choices.
  • Educate and Innovate: As Future Ocean Foods and similar initiatives work towards educating consumers and innovating in the plant-based seafood space, leverage these developments to educate your customer base. Highlight the positive impact of plant-based choices and showcase the innovation within the category.
  • Diversify Your Menu or Product Line: Embrace the variety of plant-based seafood options coming to the market. Diversifying your menu or product line with these alternatives not only aligns with consumer values but also expands your business opportunities.

By acknowledging and preparing for this shift towards plant-based seafood, retailers and restaurants can tap into a growing market and contribute to a more sustainable future. The collaboration of Future Ocean Foods is a call to action, urging businesses to ride the wave of change and be part of the transformation in the way we view and consume seafood.

Speaker Spotlight: Exploring the Flourishing Plant-Based Landscape with SPINS CEO Jay Margolis

Written by PBWPulse on . Posted in Event Spotlights, Research, Trends.

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To gain valuable insights into the growth and future of the plant-based industry in the United States, look no further than Jay Margolis, the new CEO of SPINS. His session at the Plant Based World Expo Europe, titled “Exploring the Flourishing Plant-Based Landscape: Insights from the United States and Crafting Winning Sales Stories for Retail Success,” promises to be a highlight of the event. The session is scheduled to take place in the “Pulse Theatre” at 3:15 PM on Wednesday November 15, the first day of the event taking place at the ExCel London event center.

Jay Margolis brings over 25 years of experience in the information and data analytics industry to his role as CEO of SPINS. His proven ability to scale complex business models and strategically accelerate growth and innovation makes him a valuable voice in the natural and organic product industry. Furthermore, Jay is a long-time champion of the natural products sector, reflecting a personal passion for empowering the health and well-being of individuals, communities, and the planet through informed, sustainable consumption.

Before assuming the role of CEO at SPINS in July 2023, Jay served as Senior Vice President and General Manager at IQVIA, where he led the U.S.-based data and technology business. His oversight included more than 1,300 employees and a range of functions, including marketing, sales, and portfolio strategy. This background aligns seamlessly with the ethos and mission at SPINS to provide truthful and transparent analysis of the ever-evolving natural food space.

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Jay Margolis’s session at the Plant Based World Expo Europe is sure to offer invaluable insights to European market stakeholders seeking to learn from the market data and research being conducted across the pond in North America. The session explores the remarkable growth and potential of the plant-based industry in the United States, highlighting the latest trends, market insights, and success stories that have propelled plant-based products onto retailer shelves across the nation.

Attendees can expect to learn how to craft compelling sales stories that capture the attention of retailers and ensure that plant-based products find their place in the booming market. Jay Margolis’s expertise and passion for sustainable consumption will inspire those looking to navigate and succeed in the flourishing plant-based landscape.

Don’t miss the opportunity to hear from Jay Margolis at the Plant Based World Expo Europe. His session promises to provide transparency, optimism, and actionable insights for the future of the plant-based food industry. See full session details here.

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Discover Excellence in Plant-Based Products: Plant-Based Taste Awards

Written by PBWPulse on . Posted in Event Spotlights, Industry updates, Plant Based World Europe, Trends.

As a food buyer in retail or foodservice, your quest for outstanding plant-based offerings is never-ending. In partnership with Plant Base Mag and FoodBev Media, the Plant-Based Taste Awards presented at Plant Based World Expo recognize and celebrate excellence and innovation within the plant-based food industry.

These awards are a window into a diverse world of plant-based products that cater to the evolving tastes of your customers. Whether you’re seeking a delicious and hearty bacon alternative, seafood, delectable burgers, innovative beverages, mouthwatering breakfast options, tempting desserts, or whole-cut products, these finalists showcase the best the industry has to offer.

The winners will be presented at 4:00 PM on Wednesday, November 15, in the Pulse Theatre conference room at Plant Based World Expo Europe, taking place at the ExCel London event center.

Why are these awards important for food buyers like you?

Stay Ahead of the Curve: Being aware of the latest trends and innovative products in the plant-based space can set your business apart. Customers are increasingly demanding plant-based options; these awards can help you stay ahead of the curve.

Delight Your Patrons: Taste remains the number one motivator for repeat purchasers of plant-based products. Serving the finest-tasting products demonstrates your commitment to quality. Wow your patrons with top-tier options and attract a broader customer base.

Diversify Product Offerings: This year’s award program spans across 18 different product categories. These categories range from bacon and burgers to beverages, desserts, ready-made meals and beyond. Take note of the diversity of products being showcased for taste and innovation and expand your awareness of the types of plant-based products you can offer your customers.

By attending the award presentation at Plant Based World Expo Europe on November 15, 2023, you will gain firsthand insight into the crème de la crème of plant-based products. Embrace the opportunity to explore excellence in plant-based innovation.

Click here to see the full list of categories and finalists via Foodbev Media. Join us at the awards presentation and witness the plant-based industry’s finest creations. Elevate your menus and store offerings with these exceptional products and continue to meet the surging demand for plant-based options in your business.

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Youth-Led Momentum: United Nations Present Plant-Forward Menu for COP 28 Global Summit

Written by PBWPulse on . Posted in Global Marketplace, Government, Policy, Trends.

The 28th annual United Nations climate summit (COP28) has set a historic precedent by placing food at the center stage of the climate conversation, underscoring the remarkable impact of youth-led initiatives and inspiring a bright future for the plant-based marketplace. The initiative, being referred to as the “1.5-degree Celsius-aligned menu,” aligns with the ambitious climate goals of the Paris Agreement, emphasizing the inextricable link between climate action and our food choices.

This innovative shift towards prioritizing plant-based cuisine was ignited by the unwavering passion and determination of youth organizations. The voices of YOUNGO, the Youth and Children constituency of the United Nations Framework Convention on Climate Change (UNFCCC), resonated powerfully within the COP28 decision-making process. An integral part of YOUNGO, Food@COP, a spirited campaign dedicated to promoting climate-friendly catering at COP events, played a pivotal role in advocating for a menu overhaul. These youthful advocates, with their fervor for a more sustainable world, epitomize the monumental influence that passionate young people can wield on the global stage.

Collaborating with these dynamic youth groups, ProVeg International has been at the forefront of supporting the realization of the 1.5°C-aligned menu. ProVeg’s mission revolves around the promotion of plant-based diets, reflecting their unwavering commitment to this groundbreaking initiative. The partnership between passionate youth movements and experienced organizations like ProVeg demonstrates that working hand in hand can lead to transformative change.

COP28’s decision to adopt the “1.5-degree Celsius-aligned menu” is a resounding acknowledgement of the critical relationship between food and climate change. The production of food, particularly within the livestock sector, plays a significant role in global greenhouse gas emissions, deforestation, and biodiversity loss. By embracing plant-based options, COP28 sends a clear message about its commitment to reduce its carbon footprint and pave the way for a more climate-resilient future.

This menu transformation at COP28 holds the promise of triggering a global ripple effect, with similar changes anticipated at future events and conferences. It serves as a living testament to the transformative potential of youth-led initiatives and underscores the pivotal role of young people who believe in a more sustainable and eco-conscious world. As the world’s attention turns to COP28, the influence of these visionary young minds should be celebrated. They exemplify the incredible impact that passionate youth voices can have on steering the planet towards a more sustainable future.

As young people continue to empower themselves and find innovative ways to create a better world, we can look forward to a future where the plant-based marketplace flourishes, aligning with the aspirations of a new generation set on making a positive impact on our planet.

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Going Beyond Meat Alternatives: The Bright Future of the Plant-Based Marketplace

Written by PBWPulse on . Posted in Finance, Industry updates, Investment, Research, Trends.

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As we step into a new era of conscious consumerism, the plant-based market continues to flourish, backed by investments and promising trend projections. Recent developments in the financial world and market research suggest a bright and diverse future for the industry. Let’s explore the reasons for optimism in the plant-based marketplace.

Diverse Investments

Morgan Stanley recently announced its investment in Huel, a company known for producing food powders and meal replacement drinks. What makes this investment noteworthy is that it represents the expanding horizons of the plant-based market. While meat alternatives have taken center stage in recent years, Huel’s focus on nutrition-dense meal replacements emphasizes the breadth of possibilities within the plant-based space.

But this is not just about diversifying the product range; it’s also a step toward sustainability. Morgan Stanley’s commitment to reducing its carbon footprint by 1 gigaton shows a new dimension of the plant-based market’s potential. Other financial firms are sure to take notice, which could set off a trend of plant-based investing aimed at achieving sustainability goals.

Upward Projections

The optimism surrounding the plant-based market doesn’t stop at investments. Recent research indicates that the global plant-based food market continues to be on a trajectory of strong growth. Projections suggest that by 2023, the market will reach an estimated value of $54.15 billion. Even more striking, the compound annual growth rate (CAGR) for the period from 2022 to 2027 is forecast at an impressive 17.6%.

These figures not only reflect the expanding shopper-base for plant-based products but also indicate an increasingly health-conscious and environmentally aware population. It is clear that meat alternatives alone are not carrying the growth in the category. This indicates the steady increase in demand for plant-based options is driven by a diversity of categories such as dairy alternatives, snacks, frozen and prepared foods and nutritional meal replacements.

Lessons for Investors

The past few years have been marked by a singular focus on meat alternatives, with plant-based burgers and sausages garnering significant attention. However, this approach had its limitations, and the industry has learned important lessons. Investors are now discerning the need for diversification within their plant-based portfolios.

Huel’s success and the broader growth projections signify the significance of variety in the plant-based marketplace. Diversifying across different product categories ensures that investors remain agile in a dynamic market and can capitalize on shifting consumer preferences.

The bottom line is this: the plant-based market is evolving, and it’s doing so in a manner that transcends the confines of meat alternatives. Investors who understand the need for versatility will be well-positioned to reap the rewards of this burgeoning industry.

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