In this file:

 

·         Consumers still prefer beef over alternatives

Research looks at consumer acceptance, choice and willingness to pay for beef burger alternatives.

… At present, the future market potential of beef alternative products appears to fit more in the “niche” category, even at significant price discounts...

 

·         Meatless companies fight for relevance in age of Beyond Meat

… legacy veggie burger brands are fighting to stay relevant in the frozen-food aisle… “It isn’t like this is a totally new space,” said Bob Nolan, senior vice president of demand sciences at Conagra Brands Inc…

 

 

 

Consumers still prefer beef over alternatives

Research looks at consumer acceptance, choice and willingness to pay for beef burger alternatives.

 

Jacqui Fatka, Feedstuffs

Aug 09, 2019

 

Despite rising interest in innovative non-animal-based protein sources, consumers still prefer traditionally raised ground beef, according to new research.

 

While there was more than 20% growth in the plant-based meat category in 2018, according to the Plant Based Foods Assn., there is still a great deal of uncertainty about consumers’ preferences for these alternative products and ample speculation about the ultimate size of this market.

 

One popular veggie burger patty is made with plant-based protein (pea protein) and beet juice, resulting in a burger that "bleeds" like a traditional beef burger (Beyond Burger). Another new type of burger uses plant-based heme as the key ingredient to create a meaty flavor and appearance (Impossible Burger).

 

For lab-grown meat, the stem cells of a living cow are harvested and nurtured to create muscle tissue in the lab. Lab-grown meat is not yet available to consumers because the technology remains cost prohibitive, but it is expected to become available in the coming years.

 

Beyond the challenge of the technical feasibility to successfully produce large quantities of affordable lab-grown meat, another major challenge is consumer acceptance of the novel products. Whether these burgers will become successful on the market depends on whether consumers will adopt lab-grown or new plant-based burgers in their diet.

 

Purdue University head of agricultural economics Jayson Lusk, along with Ghent University post-doctoral research fellow Ellen Van Loo and Michigan State University agricultural economist Vincenzina Caputo, surveyed about 1,800 U.S. food consumers earlier this year and asked them to make a number of simulated shopping choices.

 

In each choice, consumers had five options: They could buy conventional farm-raised beef, a plant-based burger made with pea protein (i.e., Beyond Meat), a plant-based burger made with animal-like protein (i.e., Impossible Foods) or lab-grown meat (i.e., Memphis Meats), or they could choose not to buy any of the products (i.e., “none”).

 

Results from mixed logit models showed that, holding prices constant and conditional on choosing a food product, 72% of participants chose farm-raised beef, 16% chose a plant-based (pea protein) meat alternative, 7% chose a plant-based (animal-like protein) meat alternative and 5% chose lab-grown meat. Adding brand names (Certified Angus Beef, Beyond Meat, Impossible Foods and Memphis Meats) actually increased the share choosing farm-raised beef to 80%.

 

At present, the future market potential of beef alternative products appears to fit more in the “niche” category, even at significant price discounts...

 

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https://www.feedstuffs.com/news/consumers-still-prefer-beef-over-alternatives

 

 

Meatless companies fight for relevance in age of Beyond Meat

 

Olivia Rockeman and Leslie Patton, Bloomberg L.P.

via The Detroit News - Aug. 9, 2019

 

The meatless-meat category is facing a renaissance, and legacy veggie burger brands are fighting to stay relevant in the frozen-food aisle.

 

Frozen bean and veggie-based patties dominated the market for meat alternatives for years. Now, Impossible Foods Inc. and Beyond Meat Inc. have grabbed the attention of vegans and meat-eaters alike by developing plant-based burgers that imitate beef, even using beet powder or other ingredients to make the patties “bleed.”

 

“It isn’t like this is a totally new space,” said Bob Nolan, senior vice president of demand sciences at Conagra Brands Inc. Veggie patties have been around for years, but they weren’t “of the quality that they are today.” he said.

 

Since Beyond Meat arrived on the scene in 2013, sales of meat substitutes among the nine largest producers have climbed 56%, according to Euromonitor International. Yet with more upstarts entering the market, the share among companies is spread thinner every year. Kellogg Co.’s MorningStar Farms brand has lost about half of its piece of the pie since 2013, even as its sales have grown, data from the research firm show.

 

A fresh focus on plant-based meat substitutes has encouraged alternative protein makers to change their recipes, upgrade packaging and invest in new plant-based initiatives. Some brands have extended their scope to meatless chicken, bacon and sausages to further differentiate in an increasingly crowded veggie burger aisle.

 

People used to view meat alternatives “as a compromise,” Nolan said. “These new guys showing up have brought new attention into it.”

 

Getting Closer ...

 

Growth Opportunities ...

 

more

https://www.detroitnews.com/story/business/2019/08/09/meatless-companies-fight-relevance-age-beyond-meat/39932883/