But some consumers may be doubting whether plant-based alternatives actually have a smaller carbon footprint. "When you look at the ingredient list of a McDonald's burger, like a Quarter Pounder or Big Mac, it's phenomenally simpler it reads a lot simpler than traditional plant-based meats."Īnother reason people opt for plant-based alternatives is because of the high greenhouse gas emissions associated with animal products. "There are a lot of different oils and complicated ingredients used in meat substitutes," Chris DuBois, senior vice president of protein practice at market research company IRI, told industry news source Food Business News. Consumers are less open to trying new products and there is less interest in healthy food options, he said.īut others have argued that shoppers aren't convinced of the healthfulness of these products in the first place. Several factors are weighing on the demand for plant-based meat and dairy alternatives.ĭiscussing the company's third quarter results, Beyond Meat President and CEO Ethan Brown listed no less than six reasons for the poor performance. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Why the loss of appetite? "Of course, our performance has suffered in the middle of this, but the more concerning set of facts are rooted in category performance, which basically flatlined." McCain, president and chief executive officer of Maple Leaf Foods, a Canadian food product company, during a November conference call with market analysts. "In the past six months, unexpectedly, there has been a rapid deceleration in the category growth rates of plant-based protein," said Michael H. But today, a stake in Oatly can be had for $12 a share. Oatly, the Swedish producer of oat-based dairy alternatives, made a successful debut on the stock market in May this year, with shares quickly jumping up to trade at $29 (€25.70). This month, American producer Beyond Meat reported lower-than-expected third quarter sales, prompting shares in the company to fall 18%. After a year that saw rabid demand cause widespread oat milk shortages at Starbucks, the outlook for this consumer segment is looking less bright today. Sales of plant-based meat and dairy alternatives have started declining for some big name producers.
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