Yesterday I wrote an article about the changing face of food.
When it comes to technology, things are changing rapidly. The news just keeps on coming. In this article I will discuss "meatless" meat and the changes it is bringing about.
To start, we have Impossible Foods, a privately held company that makes "meat" out of plants. Over the last couple years, there was a great deal of progress made.
This week the company announced that it will be starting to offer its sausage will be offered to restaurants across the country. They already we in Burger King and Starbucks.
Obviously, this is one of the innovations that is starting to sweep the nation (and soon, the world).
Impossible Foods main competitor in this space is Beyond Meats. This company is having even more success, having placed it products in supermarkets across the country.
The company's CEO, Ethan Brown, conducted an interview with Yahoo Finance that spelled out how the company is doing. This is one of those that has excelled due to COVID-19. As meat processing plants were closed down, Beyond Meat was able to step in and increase their share.
Unlike the meat counterparts, this company's plants are not as tightly packed, thus were better able to engage in social distancing. Also, they are being able to scale up nicely.
To read full interview:
The most interesting part of all this is the fact that it is a following the trendline established by computerization.
Food is changing into the different components. Instead of focusing upon the entire product, we are starting to see the concentration on protein, minerals, and fats. It is basically the alternative foods versus animal proteins.
Whereas animal products are not going to change, the alternative foods, both plant based along with invitro meats, has the ability to accelerate their protein process. Ultimately, they will be able to create more nutritious products for less money in greater quantities.
While there is still a difference in price between regular meat and Beyond Meats' products, we see the gap closing. This is vital. In the next couple years, we will see this reverse. Once this happens, the process will likely continue.
This from Brown pretty well sums it up:
Second, we want to keep increasing the nutritional benefits of our products in terms of delivering all the good stuff to keep track of protein and iron, but taking out the bad stuff that we don't want. And then lastly, when we get to below animal protein that is a very unusual proposition. The consumer says you know it tastes just like beef, but it is better for me nutritionally and it's cheaper. How am I not going to eat it. We think that once we hit those three coins on the head, the majority of consumers will come on board.
Here we see another example of how quickly things are changing. Food is a rather large sector that is seeing massive disruption on the way.
By the middle of this decade, things will be very different in the food industry.
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Posted Using LeoFinance