Are plant-based proteins an opportunity or a threat?

Sales of plant-based proteins are still miniscule in comparison to traditional proteins; however the market is rapidly growing.

Doughman Headshot3 Headshot
(Anthony Lindsey Photography)
(Anthony Lindsey Photography)

Sales of plant-based proteins are still miniscule in comparison to traditional proteins; however the market is rapidly growing.

Three industry experts weighed in on the future of meat alternatives – and whether animal-based agriculture should be worried about it – during an October 27 webinar, State of the Protein Industry: A Panel Discussion.

The discussion featured Kent Harrison, Vice President of Fresh Meats Marketing and Premium Programs, Tyson Foods, Zak Romanoff, President of OMNI Food Sales and Anne-Marie Roerink, Principal at 210 Analytics, LLC.

Number of flexitarians continues to grow

Prior to COVID-19, interest in flexitarian diets had been steadily increasing. Consumers who eat this diet still consume meat but are trying to cut back, typically citing health, planetary health, animal welfare or social responsibility reasons.

“By and large, 76% of people say they are meat eaters. Sixteen percent are flexitarians and that was up from 12%, so we do see a little bit of growth in flexitarians. All in all, I do believe that is the area where we, as a meat industry, really need to pay attention to,” Roerink said, sharing the latest numbers from the Midyear 2020 Power of Meat report. “So, it’s really the flexitarians —which are folks that have a plant-forward look but still want to integrate meat and poultry every once in a while – that is the growing group.”

The meat industry should think of flexitarians as swing voters, she advised.

An opportunity or a threat?

Right now, most people view this as an and/or in that they believe that consumers will buy traditional proteins or plant-based proteins. The reality is that most shoppers that purchase plant-based proteins also buy traditional proteins.

In addition, younger shoppers – which the meat department is trying to attract -- are especially interested in plant-based proteins. This is an opportunity to find new ways to attract younger shoppers.

“Plant-based is an opportunity. I’m glad that they’re slotted in the meat department because it brings more people into the case.,” Romanoff said.

Should animal agriculture be worried?

The three experts all agreed that traditional animal proteins will remain popular with consumers going forward in the future.

“Animal meat protein and animal agriculture is still going to be tantamount. The alternative meat category is still so small that it isn’t something that is going to change the perspective of what we do. Especially from a worldwide situation, as the middle class grows and people have more expendable income, animal proteins are only going to continue to grow,” explained Harrison.

“What we think at Tyson is that it is another consumer protein choice. We are a protein company and we will look to grow in that area as well.”

Like what you just read? Sign up now for free to receive the Poultry Future Newsletter.

Page 1 of 178
Next Page