Supermarkets adding more plant-based meat products to meet dramatic increase in demand
The plant-based Impossible Burger skyrocketed to the No. 1 item sold on the East and West cost stores of Kroger grocery chain, and outsold ground beef from cows in many others.
KELLY MCCARTHY: As concerns grow over a beef and pork shortage in the U.S. due to the coronavirus pandemic, innovative plant-based products could be well positioned to capture market share. In the wake of meatpacking plant closures across the country, fast-food chains, big-box retailers such as Costco and grocery stores like Kroger have started to limit the amount of meat products customers can purchase at one time. But as customers stroll down the meat aisle, they could soon see an influx of alternatives… Nielsen reported that sales of fresh meat alternatives were up 224% for the week ending April 25, while fresh meat sales jumped 50% in the same period.
Impossible Foods announced on Tuesday it had sped up its expansion into both brick-and-mortar Kroger stores and online retail to meet the growing demand. The privately held brand’s flagship soy-based “burger,” which made its retail debut last fall, will be available at over 1,700 stores Kroger-owned stores across 28 states. “Impossible Foods has seen a dramatic increase in the demand for plant-based meat in the last two months,” Jessica Appelgren, vice president of communications at Impossible Foods…
“Plant-based food remains one of the fastest-growing categories at Kroger… Kroger’s senior vice president of merchandising, Joe Grieshaber, said in a statement. The plant-based product that imitates ground beef in texture, mouthfeel and flavor skyrocketed to the No. 1 item sold on the East and West coasts after its initial launch, according to the brand, and outsold ground beef from cows at many grocery stores… Its main competitor, Beyond Meat Inc., reported a 141% jump in first-quarter revenue and profit as demand for its meatless products also rose. SOURCE…
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