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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Competition Among Vegetable-Derived Meat Substitute Manufacturers Intensifies

10/22/2019

Competition among the current producers of vegetable-based meat substitutes is intensifying as new production enters the marketplace. This past week, Dave and Buster’s Entertainment Inc. substituted Light Life Burgers to be served in their chain of 130 restaurants in the U.S. and Canada. The burgers supplied by Greenleaf Foods, owned by Maple Leaf Foods of Canada, will replace product from Impossible Foods.Light Life claim that their burgers are free of GMO ingredients, gluten, soy and artificial flavors.

Barclays, a U.K.-based bank estimates that the alternative meat market might attain $140 billion annually by 2030. Motivation to purchase vegetable-based alternatives include concern over the environment, welfare and health. Given the recent introduction of vegetable-based meat substitutes that mimic the flavor and texture of beef burgers, it is too early to predict whether price and product quality will influence long-term substitution or whether veggie burgers are a passing fad. Without a track record, and based on preliminary market research, projections of future growth extending over decades appear speculative.


 
Copyright 2019 Simon M. Shane