THE PENDULUM SWINGS Why 2020 won’t be like 2019 in the meat analogue space
HOW CRAZY WAS THE RIDE?
MONEY MONEY MONEY
MORE MONEY MONEY MONEY
A LITTLE PERSPECTIVE $1 TRILLION $3 Billion
A BIRD’S EYE VIEW • Global poultry meat market: US$347.3 billion • 17% of that market is in the United States • U.S. consumers eat > 93 lbs. chicken annually • U.S. consumers eat 290 eggs annually, and counting
FAUX FEATHERED FRIENDS ¡ Nestle ¡ JUST ¡ Beyond Meat ¡ Daiya ¡ Morningstar Farms ¡ Spero Foods ¡ Conagra/Gardein ¡ Conagra/Egg Beaters ¡ JUST ¡ VeganEgg ¡ Rebellyous ¡ neat egg ¡ Improved Nature ¡ Orgran’s ¡ Worthington JUST Egg, made with canola oil and ¡ Alpha Foods mung bean protein, accounts for 40% ¡ Planted of all liquid egg sales in ‘natural’ grocery stores
REMEMBER THIS Trips in which MEAT SUBSTITUTES are purchased are FOUR TIMES MORE LIKELY to include MEAT. IRI Shopper Loyalty data for FW/RW meat substitute product, ranked by Basket Co-purchase Index, 2018
REVERSE DIRECTION ¡ Tim Hortons drops Beyond Meat products from its menus. ¡ White-hot interest in Impossible Whopper is dropping off; makes an appearance on the value menu. Daily sales down 12.5% § Popeyes Chicken store sales up 21.1% in Q4 ¡ IFIC survey: 41% like to try new things, 30% ‘curious’
MARKET SEGMENTATION ¡ Kroger, Chipotle introduce, or plan to introduce, private-label plant-based substitutes ¡ Hybrids – chicken and vegetables, beef and mushrooms – multiplying, compete for share-of-plate ¡ Gallup: 71% of b-to-b customers will move their business
FUZZY REASONING ¡ ‘Health’ § Richard Berman/CCF ¡ Climate change ¡ Animal handling
NATURAL BARRIERS ¡ Chicken meat composition ¡ Price point
WHAT NOW? ¡ Back to basics: Closer to nature, less processed, lean, healthy, flavorful, your grandma used to eat it ¡ Sustainability as a central business tenet ¡ Humane handling ¡ Value-added
THANK YOU Lisa M. Keefe Editor in chief, Meatingplace Editor, The Analogue Dish lkeefe@meatingplace.com
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