US plant-based meats – industry update

Could coronavirus serve as a driver for plant-based protein uptake?

The Interview started with the specialist giving an estimate of this market’s value in the US and outlining its growth. There is increasing interest in using yellow pea protein rather than soy, owing to allergen issues. However, there’s concern that yellow pea could result in the same issues in future, as it belongs to the same family as soy. As a result “producers are working on diversifying their protein source to other pulses… that may not have the same allergen characteristic.” 

A range of drivers are fuelling demand for mock meats, for instance health and wellness, the environment, and animal welfare. The coronavirus pandemic could be another – not only has there been a rush to stockpile animal protein, encouraging people to look at alternative sources, but the media has also reported instances of slaughterhouses acting as virus hotspots, triggering safety concerns.

The split between retail and foodservice and future market outlook, including the consequences of a potential recession, were also discussed. Another near-term development is cell-based meats, which could be commercialised in about five years’ time. “We continue to look at plant-based as interesting from a brand perspective, but from a system perspective, cell-based protein is much more interesting.”  

To access all the human insights from Third Bridge Forum’s US Plant-based Meats – Industry Update Interview, click here to view the full transcript.