Plant-based protein food companies not only target vegans, but meat eaters as well

VANCOUVER, BC, September 21, 2021 / PRNewswire / – United States News Group – Competition Intensifies Among Manufacturers of Plant-Based “Fake Meat” Products for Passing Market Share beyond vegetarians and vegans, but also in the predominantly carnivorous consumer base. Analytical market research predicts the Plant Protein Market to reach $ 21.23 billion by 2027, with a CAGR of 9.5% along the way. For many consumers, the gap between taste profiles and prices is narrowing, as plant proteins become increasingly competitive, with new products coming from large fast food chains like Yum! Trademarks, Inc. (MIAM) and McDonald’s‘S corporation (NYSE: MCD), which work well with plant proteins and CPG specialists such as Beyond Meat, Inc. (NASDAQ: BYND), Brands Conagra, Inc. (NYSE: CAG), and newly public Nepra Foods (CSE: NPRA).

Nepra Foods (CSE: NPRA) supplies proprietary ingredients and processes to major national brands and launches its own products direct to consumers. Having already established a supply chain management and distribution network across the world, Nepra Foods was launched following its recent IPO.

At the forefront of by Nepra the offerings are the company’s hemp-based protein products, backed by a proprietary ingredient called THPMT (Textured Hemp Protein) – all of which are soy-free, GMO-free, allergen-free, and gluten-free.

The company has decades of industry experience, having successfully helped many national brands bring products from concept to market with new ingredients and technical know-how.

Their multi-category plant-based foods include frozen meals, plant-based dairy products, salty snacks, and meat alternatives that are high in protein and fiber, low in carbohydrates, and truly nutritious.

Company executives include co-founder, CEO and director David Bois, and Chief Innovation Officer and Director Chadwick White, both of which were part of the success of Udi’s Gluten Free Foods, which was sold to what is now Brands Conagra, Inc. (NYSE: CAG) in 2012 for $ 125 million.

Another acquisition that is bearing fruit Brands Conagra, Inc. (CAG) is its Gardein vegetable meat brand, which has generated retail sales of $ 170 million last year, up 33.5% from two years ago.

“We are encouraged by the growth of meat eaters in this space,” said Ashley lind, Senior Director, Consumer Insights, Predictive Science at Conagra brands in an interview with FoodNavigator-United States. “Meat eaters make up 95% of the total population and nearly 80% of buyers in the plant-based meat substitutes category, and their growth rates in terms of new buyers and dollar spending also exceed those of their vegan and vegetarian counterparts. “

In an effort to seduce these meat eaters, a collaboration between McDonald’s‘S corporation (NYSE: MCD) and Beyond Meat, Inc. (NASDAQ: BYND) appears to have won over taste testers in UK online publication Mirror, describing the new McPlant burger as tasting “just like beef.”

It’s clear from launch that the fast food giant isn’t just targeting vegetarians, but is also focusing on attracting flexitarians, people who primarily enjoy a vegetarian diet but occasionally eat meat.

According to a spokesperson for McDonald’s, the McPlant aims “to give customers more choice.” McDs also described McPlant as delivering “our signature taste in a bite-sized (and mouth-wiping) kind of sandwich.”

World famous friend chicken chain KFCowned by parent company Brands Conagra, Inc. (CAG) – is also working to replicate its brand offering, which began through a collaboration with Beyond meat.

So far a fake plant-based chicken nugget with Beyond meat aid has been tested, but not yet taken nationally. Beyond Meat noted in an email to CNBC that its bean-based chicken offerings came out just as restaurants were experiencing supply-side shortages and price increases and consumer demand. soared.

In an interview with Bloomberg, the US president of KFC, Kevin hochman said, “What we’re trying to replicate is a net where you actually have the muscle fibers. The texture is a little nicer than what we would call a chewed up and sticky. It’s a different technology.”

Many innovations are still underway as producers seek to replicate beef, chicken and even fish. As new shortages appear to emerge, there is potential for meat substitutes to fill the gap.

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