Every week, Plant-based Business Expert Elysabeth Alfano breaks down the headlines with her review and analysis in the Plantbased Business Minute. Elysabeth is the founder of Plant Powered Consulting, the host of the Plantbased Business Hour and the Consulting Managing Director, vegconomist, North America.
Here is the Plantbased Business Minute for the week ending February 26, 2021.
Break out your wallet, Oatly has filed for an IPO. According to Bloomberg, the company is seeking a $10 billion valuation.
My business bottom line here is that the Oatly IPO will have triple the impact that the Beyond Meat IPO had. Look for mainstream investors to put money into the secular trend that is the shifting food supply system away from animal agriculture.
More big news, Danone buys the 51 year-old brand, Follow Your Heart. This is part of their vow to increase their plant-based business sales to $5.7 Billion by 2025. They currently enjoy a 41% share of the plant-based market.
My business bottom line here is you do not have to sell your soul to be successful. I’ll quote the co-founder of Follow Your Heart, Bob Goldberg, who says “we never had to shift our values to do business.”
Talk about business, Beyond Meat has penned a three-year deal with McDonald’s to provide plant-based options for their McPlant platform at the same time that the company has penned something with Yum brands so that they can provide more plant-based options to KFC and Pizza Hut. In an earnings call, Ethan Brown, the CEO, said that these are enormous deals, the biggest you could get in the food sector.
My business bottom line here is that Markets and Markets Research Firm says that the plant-based protein sector is worth $10.3 Billion currently and it will be $15.6 Billion by 2026. My take on that is that it is colossally low. Time will tell, but I’ll be right.
My business question for LinkedIn and Clubhouse is if Beyond Meat and Impossible Foods have cracked the code for the burger, who’s going to crack the code for cheese?
This has been the Plantbased Business minute. If you would like a deeper dive into plant-based business, please subscribe to the Plantbased Business Hour wherever you get your podcasts. And if you are a small plant-based business or a large meat and dairy company and you are looking to navigate the plant-based landscape, please reach out to me on LinkedIn. My team and I at Plant Powered Consulting are here to help you with media, marketing, communications strategy and so much more.