In 2020, the Center for Consumer Freedom, a non-profit organization advocating for the meat, alcohol, and tobacco industries, shifted its focus to the plant-based meat industry. As a response, the organization released a Super Bowl television commercial featuring children at a spelling competition struggling to spell the word “methylcellulose,” an additive found in some packaged foods, including plant-based burgers. The voiceover suggested that if consumers can’t spell or pronounce it, maybe they shouldn’t be eating it. This ad struck a chord with viewers and reinforced the common criticism that plant-based meat is expensive, environmentally impactful, and inferior in taste to animal meat. However, the industry’s biggest concern is the perception that these products contain excessive additives and undergo extensive processing.
Due to declining sales, bankruptcies, and dwindling funding, the plant-based meat sector is now on a mission to win back consumers. Manufacturers are addressing this issue by explaining their manufacturing processes and highlighting the health benefits of plant-based meat. Ethan Brown, the CEO of Beyond Meat, admitted that the percentage of US consumers who believed plant-based meats were healthy dropped from 50% to 38% between 2020 and 2022. Brown believes that the industry needs to unite around a single and impactful message centered on production processes and ingredients. Beyond Meat recently launched a campaign called “There’s Goodness Here,” showcasing the farms where the raw materials for their products are grown. They have also partnered with medical institutions like the American Cancer Society and Stanford University to conduct research on the health impacts of a plant-based diet. However, Beyond Meat’s market capitalization has decreased from nearly $12 billion after its IPO in 2019 to approximately $560 million today.
Impossible Foods, Beyond Meat’s biggest competitor, has also intensified its marketing efforts by creating advertisements that directly compare their products to animal meat burgers. They emphasize the lack of cholesterol and lower saturated fat content in their products. Peter McGuinness, the CEO of Impossible Foods, refuted claims that their products are unhealthy and argued that they are a good source of protein, iron, and vitamin B. He also highlighted that 65% of the whole grocery store consists of processed products. Plant-based meat is created by combining plant protein, binding agents, plant oils, nutrients, and flavors to mimic the texture of meat. This mixture is then extruded to create mince-like products such as burgers and nuggets or further processed to resemble specific cuts of meat like bacon or steak. However, like most packaged foods, plant-based meat has faced scrutiny due to the backlash against “ultra-processed” products, which have been linked to obesity, cancer, heart issues, and type 2 diabetes.
Companies now recognize that simply replicating meat is not enough. They must also create products that health-conscious consumers perceive as a better choice. A 2022 survey conducted by the Boston Consulting Group found that 75% of 3,700 respondents from seven countries were motivated to start eating alternative proteins to have a healthier diet. JP Frossard, an analyst at Rabobank, points to the plant-based dairy industry as a success story. It has consistently grown in popularity by convincing consumers that products like oat milk and plant-based cheese are healthier alternatives to dairy. As a result, they can sell at a premium without resistance. When plant-based meat products first entered the market in the late 2010s, the primary selling point was their positive environmental impact, rather than their health benefits. McGuinness believes that more attention should have been given to the quality of the products. However, making products more appealing to health-conscious consumers comes at a challenging time for the industry. The stock market boom that initially benefited the sector ended with higher interest rates and stagnating sales during the cost of living crisis. Beyond Meat’s market value plummeted to around $560 million.
New entrants in the plant-based meat sector have learned from the criticism faced by established players and are focusing more on health. Brands like Planted and Heura offer chicken products with only four to five ingredients. Carlotte Lucas, a senior corporate engagement manager at plant-based advocacy group the Good Food Institute Europe, predicts that more products will come to market as the sector meets consumer expectations for taste, price, and nutrition. Reducing the number of ingredients leads to “clean label” packaging, which indicates natural products without artificial ingredients or unpronounceable names.
Impossible Foods is currently tweaking its recipes to enhance taste, texture, flavor, and nutritional content. The company is willing to replace ingredients that raise concerns among consumers. Some players in the alternative protein sector, however, believe that the barriers for plant-based meat products are not related to the level of processing but rather to taste and cost. Didier Toubia, CEO of Aleph Farms, a start-up focused on lab-grown real meat, argues that burgers, which are indulgent foods, are not typically considered healthy. Established players like Impossible Foods remain confident that the sector can regain growth by improving the taste, price, impact, and health benefits of their products.
Despite facing continuous criticism and negative news, these companies are determined to take action and overcome the challenges to succeed.
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