Global brands are riding the vegan wave
Can food innovations make veganism an attractive long-term proposition for the most committed carnivores or flexitarians? According to Kantar Worldpanel, the answer is a resounding YES.
REBECCA ELLINOR TYLER: ‘Vegan consumers are being taken seriously by major food producers and brands. But how big is the trend, how far will it go, and what impact is the enthusiasm for meat-free foods having on prices and available supplies?… Sales of plant-based food across the US rose 20% in 2018, according to Nielsen data for the Plant Based Foods Association. “Plant-based is the new organic,” said international food and restaurant consultants Baum & Whiteman…
Jeff Bezos, billionaire and Amazon CEO, is just one investor riding the veganomic wave, this year contributing towards a $30m investment in Chile-based vegan mayonnaise brand The Not Company (NotCo)… And Bezos is not alone. Investors rushing to bet their dollars on a plant-based future also include giants of technology such as Bill Gates, Google co-founder Sergey Brin and Twitter founders Biz Stone and Evan Williams, who have all invested in vegan start-ups, and seem to be convinced that veganism could be a rainbow that leads to a pot of gold.
But can innovations such as the plant-based Impossible Burger 2.0, which uses a laboratory-created compound to taste and bleed like a meat burger, make veganism an attractive long-term proposition for the most committed of meat eaters, or even the army of ‘flexitarians’, switching between veganism and their usual diet? According to Kantar Worldpanel, the answer is a resounding ‘yes’… UK supermarkets, including Waitrose, Tesco, Asda, Sainsbury’s and Marks & Spencer, have all recently introduced own-label vegan ranges and products to capitalise on the shift and compete for market share…
Health and changing dietary requirements are among the motivators for the move, together with animal welfare, but the prime reason for many to reduce their meat intake – or go vegan altogether – is the environment… In the US, the American Medical Association has called on more hospitals to offer plant-based meals… and a Vegan Climate Index has been set up to help investors avoid companies engaged in animal exploitation, defence, human rights abuses, fossil fuels extraction and energy production, and various other environmentally damaging activities’. SOURCE…
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