Unreal Meat Cook-Off
A good day in the markets for cows and chickens, Tyson Foods has gone vegan! The colossal meat processor is making the latest inroad into the plant-based, fake meat market.
The what? Alternative meats that “taste identical” to real meats, are catching on as healthier menu options. Mintel and Euromonitor, market intelligence providers, believe this is a serious business, tipping it to reach $22 billion by 2023. Demand sizzles on the back of dieters wanting to feel less guilty about what they eat, with Mintel recording 60% of Americans wanting to eat less meat. Smells like opportunity, and Tyson Foods want in.
Tysons move into the industry is significant for investors because it’s the first time an industry leader attempts to invade this emerging market. Investors already enjoy its dominance in the traditional market, and now the firm will cart out ‘Raised and ‘Rooted’ plant-based nuggets and burgers this summer and fall, believing the best form of defense is attack. The CEO of Tyson Foods, Noel White, insists the move “is about ‘and’ – not ‘or,’” with the traditional meat business still driving the top-line.
Besides, Tyson isn’t the only company frying progressive burgers. Impossible Foods is also in the game as it gears up to go public, as well as Nestle. However, Beyond Meat is the name on the street. If you hadn’t heard, the IPO-superstar soared 670% after debuting. Yet, still unprofitable and abandoned by analysts, Beyond Meat-eating investors unloaded shares yesterday on news of Tyson-branded nuggets.
Expect blind tastes abound as consumers chomp through a mounting plate of different plant-based meats.
