As reported by Reuters, the success of California-based Beyond Meat has prompted a growing number of companies to enter the plant-based meat alternative market. With the ever-increasing demand from consumers to reduce their meat consumption due to health concerns, animal welfare, and environmental issues, these companies hope to carve out a space for their products in the competitive vegan meat aisle.
From Beef to Beans: When Big Meat Enters Plant-Based in the Americas, Part 2
Following the first part as published yesterday, this is part two of a series on meat companies that entered the plant-based category, some that tried and failed, with the products no longer listed, and others that succeeded and are still on the market today. This second installment focuses on the USA and Canada, where smaller plant-based startups have struggled over the course of 2023 with many having to sadly close doors, including Hooray Foods, Nowadays, and The Very Good Food Co., and many others reducing operations and laying off staff to try and achieve profitability. Does the dominance of large multinationals hinder the success of startups in the space? Or does their presence help to bring awareness of plant-based and bring vegan products into the …