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Balanced Reporting. Trusted Insights.
Wednesday, September 27, 2023
Companies that make plant-based meat, egg and dairy alternatives have been heavily relying on imported crops for the ingredients they need and hope to convince more U.S. farmers to start growing peas, beans and other commodities.
Brazilian meatpacker JBS has purchased Vivera, the third largest plant-based food company in Europe, in a deal worth about 341 million euros ($410 million).
A survey of more than 3,000 American consumers shows beef is currently chosen about three times more often than plant-based alternatives. But while the plant-based presence in the market remains small, it is growing.
New data from The NPD Group show consumption of plant-based dairy alternatives is more likely to take place at home, but plant-based meat alternatives are more frequently eaten at restaurants.
A major international grain handler and one of the world’s leading beef producers have announced regulatory approval and the formal launch of a new plant-based food venture.
A report published last Friday from data analytics company IRI found that the growth of plant-based meat alternatives dropped from 79% at the end of April to 57% at the end of May, just as availability of beef and pork also dropped due to meatpacking shutdowns and slowdowns.
The National Cattlemen’s Beef Association hopes to address some of the industry’s longest-running issues in 2020, goals that will likely need the cooperation of an administration that is up for reelection in November.
A new report from Aramark, the largest food service company in the nation, says consumers are expected to push for more plant-based alternatives and a focus on sustainability in the new year’s dietary choices.
