Every week, Plant-based Business Expert Elysabeth Alfano breaks down the headlines with her review and analysis in the Plantbased Business Minute. The following is for the week ending April 9, 2021.
We are meat. That’s right, Impossible Foods has launched a TV ad campaign. They focus really intently on the plant-based burger being fried up on a grill, sizzling with little fat pockets and bubbles, and the words are. “We love meat. We love red meat. We love bubbling meat.”
The ad campaign is not geared towards flexitarians, but towards meat-eaters and this comes just after the brand has slashed its prices and is rumored to be headed towards an IPO worth $10B.
My business bottom line here, and Rachel Conrad, the Chief Communications Officer of Impossible Foods, and I spoke about this on the Plantbased Business Hour, when brands shift their advertising dollars, you are going to see just how manly it is to eat plants.
Let’s do the numbers! Here we go. The Plant-based Foods Association and Good Food Institute put out a report for plant-based foods consumption in the U.S. 2020. Plant-based foods are up 27% and represent a $7B market. Plant-based milk is up 20% and 40% of all households have plant-based milk. Milk now represents a $2.5B market. Plant-based meats are up 45%, representing $1.4B and this comes as just more than one in every six households has plant-based meats in it. This of course is exponential growth over what the meat industry did and what their general retail food sector did.
My business bottom line here is it is just exponential growth from here on out but, of course, it’s not just happening in the U.S.
It’s also happening around the world. Vejii launches in Canada. Nestle opens a plant-based factory in Malaysia. Greek company WildGood has launched vegan ice cream with olive oil. 70% of Dutch constituents say they’re pleased that the Dutch government is shifting away from meat. A Pro-Veg survey says that 2025 is the last year that meat is at the top of the heap in Europe and it’s downhill from there. The Australian meat market is worth $3B. That’s my global tour of the world this week.
My Linkedin and Clubhouse question of the week is what is the year that you think that meat will no longer be the majority player? Please let me know on Linkedin.
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.
Until I see you again next week, remember that together we are taking back our health, the health of the planet, and the health of our bottom line.