Investment Surging in Plant-Based Foods
2019 will be the year for plant-based foods according to Ecovia Intelligence‘s latest research.
With the rise of veganism, organics and more sustainable food resources, large operators are taking advantage of the rising trends and making huge investments in plant-based food sectors – with the hope to introduce more plant-based products into the mainstream food industry in 2019.
UK sandwich store chain Pret A Manger is already working on plans to purchase rival chain Eat to convert its 94 stores to vegetarian outlets – adding to the 4 Veggie Pret outlets it currently runs.
In the fast-food world, McDonald’s recently launched its vegan burger, Big Vegan TS, in Germany after already experiencing success with the product in Nordic regions. Whilst Chick-fil-A is currently exploring vegan options, McDonald’s rival chain Burger King launched its meatless Whopper in the US, and Taco Bell is experimenting with vegan tacos at selected outlets in London, UK, this month.
Under the brand Sweet Earth, NestlÃ© is due to launch a cook-from-raw, plant-based burger called Garden Gourmet Incredible Burger in Europe. Using vegetable extracts, soya and wheat protein, the meatless burger is said to retain a meaty texture, and we should see it on shelves later this year. Tyson, the largest meat company in the US, is also looking to also launch its first meat-free product in 2019.
Large scale investment is helping plant-based food companies to increase production scales and meet rising demand. Beyond Meat recently floated its shares on the Nasdaq stock exchange, whereas Impossible Foods’ latest financing round raised the company USD $300 million – and it isn’t just the larger companies that are upping their investments.
Founded in 1993 by high-profile vegan Heather Mills, VBites is one of the pioneers of plant-based foods in the UK. Exporting its 140 meat-free, dairy-free and fish-free products to over 24 countries, VBites is riding the sustainable food wave and recently invested in vegan businesses such as Onist and One Planet Pizza.
Australian Organic Market Report 2019
Australian Organic Ltd has recently released its Australian Organic Market Report a highly respected publication which tracks industry and consumer trends in the Australian organic marketplace based on research by the Mobium Group, Euromonitor, and the University of New England the only report of its kind in the industry. 2019 continues to see an uplift for certified organic produce – with more certified organic operators entering the industry and shoppers continuing to increase their allocations of organic produce in their weekly shops – with the Australian organic industry estimated to be worth $2.6 billion.
JOIN US on 2 June 2019 to celebrate the launch of the Australian Organic Market Report 2019 to coincide with the Naturally Good Expo 2019 in Sydney.
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About Ecovia Intelligence
Ecovia Intelligence (formerly known as Organic Monitor) is a specialist research, consulting & training company that focuses on global ethical product industries.