Quotes from GlobalData, April 11, 2024
The emergence of plant-based substitutes and the introduction of lab-grown, also referred to as ‘clean’, meat replacements are developments that are closely monitored by major meat producers globally. This overview examines the strategies these corporations are implementing to ensure they remain competitive in the evolving market of alternative protein sources.
JBS
During the early months of 2019, JBS, recognized as the largest processor of beef globally, introduced its inaugural plant-based burger alternative. This marked the company’s first foray into the burgeoning market of meat substitutes, reflecting a growing consumer interest in sustainable and vegetarian food options.
In the spring of 2020, the company JBS unveiled its plans to introduce a new line of plant-based protein products under the brand name Ozo in the United States. This initiative was to be undertaken through Planterra Foods, a newly established subsidiary. The range of offerings was set to include a variety of items, with burgers being a notable inclusion.
Two and a half years subsequent to its initial announcement, the corporation made public its decision to cease operations at Planterra. The company will now concentrate on enhancing its plant-based business segments within Brazil and Europe, regions where it has been experiencing an increase in market presence and a broadening of its customer demographic.
Tyson Foods
As one of the world’s largest meat producers and one of the most famous in the sector, the US meat giant has done more than its competitors to position itself in alternative products to its core offering.
Tyson Foods has previously made investments in the American plant-based burger company Beyond Meat and has provided support to two cultured meat companies, namely Memphis Meats and Future Meat Technologies, both based in the United States.
In the spring of 2019, it was revealed that Tyson Foods had divested its stake in the American company Beyond Meat. This move occurred just before the initial public offering of the plant-based meat substitute producer, known for its Beyond Burger.
In the summer of that year, Tyson introduced a new brand named Raised & Rooted in the United States, offering a range of plant-based items and hybrid foods that combine meat and plant-based ingredients. By the fall of 2020, this brand expanded its reach to the European market, specifically aiming to cater to the foodservice sector.
At the onset of 2021, Tyson introduced a new line of plant-based breakfast patties as part of its Jimmy Dean brand. These products were launched in response to the growing consumer interest in vegetarian alternatives for the morning meal.
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