Do consumers consider milk as a protein substitute for beef?

One of the major influences on the market this year stems from the overall increase in protein supply across all three species – beef, pork and poultry. As noted in a previous column, exports are the key to keeping supply moving: “The meat industry experienced a sharp decline during the past decade. However, that trend reversed sharply in 2015 and is likely to experience further upside in 2016. That largely stems from bigger production: USDA is currently forecasting annual beef, pork and poultry production up 1.25, 0.5, and 1.02 billion pounds respectively in 2016.

“With expanding production comes the requirement for growing access to international markets. Stated another way, export slowdowns could result in even bigger supply within the domestic market; that is, product stays home versus being shipped to other countries. And if exports begin to slow, the required domestic clearance could become much larger versus the current USDA forecasts, mandating lower prices.”

Meanwhile, another important source of protein comes from the dairy industry. To that end, this week’s illustration highlights the dairy industry’s productivity success over time. For example, in 2000, the industry produced 167.3 billion pounds of milk with an average inventory of 9.2 million cows.

Fast forward to 2016. The U.S. dairy industry will likely produce in excess of 210 billion pounds of milk this year with only 9.3 million head. In other words, in just a little over 15 years, the dairy industry has ramped up production by in excess of 25% with nearly the same number of cows. 

Bottom line, the increased production means more protein in the consumer market that we often don’t consider as being competition. And the market forces are just the same for dairy protein as described above for meat supplies. That is, consistent increases in production require bigger exports, or else that supply stays at home in the domestic market.

The dairy industry has proven successful in marketing those supplies domestically. With the current consumer mindset, dairy protein is seemingly increasingly competitive as a substitute for beef, pork and poultry – that’s especially true considering the marketing success in recent years around yogurt and whey protein supplements. 

Source: http://beefmagazine.com/beef-quality/do-consumers-consider-milk-protein-substitute-beef

Updated with Latest Trends In Meat Substitute Industry ?

"The Meat Substitute Market by source comprises soy, wheat, my coprotein and others. Soy based meat substitutes occupied a prominent market share of 68.2% in 2014. However, meat substitutes prepared from other organic and plant based sources would grow at the fastest CAGR of 10.1% from 2015 2020, owing to increasing demand of gluten free and soy free meat substitute products."

Know more in Meat Substitute Industry at: https://goo.gl/kDs9HE

Meat Substitute Market is Expected to Reach $5.2 Billion by 2020

According to a new report published by Allied Market Research titled, "Global Meat Substitute Market- Opportunities and Forecasts 2014-2020," the global meat substitute market is expected to garner revenue of $5.2 billion by 2020, registering a CAGR of 8.4% from 2015 to 2020. Europe accounted for around 39% share of the overall market revenue in 2014, owing to increasing consumption of food and snack products prepared from mock meats. In terms of growth, Asia-Pacific is anticipated to witness the fastest CAGR during the forecast period (2015 - 2020).

To know more about the report, visit the website at https://www.alliedmarketresearch.com/meat-substitute-market

The meat substitute market by type comprises products prepared from tofu, tempeh, textured vegetable protein, seitan, quorn and other plant based sources. Textured vegetable protein (TVP) based meat substitutes occupied the largest market share of 36.5% in 2014 as it is the basic ingredient in most of the soy based meat substitute products. In terms of growth, Seitan based meat substitutes would exhibit an impressive CAGR of 9.6%, owing to increasing adoption in the food service industry.

The market by source comprises soy, wheat, mycoprotein and others. Soy based meat substitutes occupied a prominent market share of 68.2% in 2014. However meat substitutes prepared from other organic and plant based sources would grow at the fastest CAGR of 10.1% from 2015 - 2020, owing to increasing demand of gluten free and soy free meat substitute products.

Most of the food and snack products, marketed as meat substitutes are either frozen, refrigerated or shelf-stable. Products offered by leading meat substitute companies such as Amy's Kitchen, Beyond Meat and others, primarily belong to frozen category. However, shelf stable category would exhibit the fastest growth in the coming years.

KEY FINDINGS OF THE STUDY 

• Europe was the largest meat substitute market in 2014, with a prominent market share of 39%
• Asia-Pacific meat substitute market would witness the fastest CAGR of 10.1% during the forecast period
• Frozen meat substitute category accounted for a prominent market share of 78% in 2014, however, the shelf stable category of meat substitutes would grow at a faster rate in the coming years
• Developed markets would witness a faster adoption of gluten free and soy free meat substitutes owing to increasing health concerns

The key players profiled in the report are Amy's Kitchen Inc. (U.S.), Beyond Meat (U.S.), Cauldron Foods (U.K.), Garden Protein International, Inc. (Canada), Meatless B.V. (The Netherlands), Quorn Foods (U.K.), Vbites Food, Ltd. (U.K.), Morningstar Farms (U.S.), MGP Ingredients Inc. (U.S.), Sonic Biochem Extractions Limited (India).  Companies such as Amy's Kitchen offer a wide range of innovative vegan meals and snacks. Beyond Meat, a leading player in meat substitute market offers highly innovative substitutes of pork, chicken, turkey and beef.

Source:https://www.alliedmarketresearch.com/press-release/global-meat-substitute-market.html

Tyson Foods, a Meat Leader, Invests in Protein Alternatives

Tyson Foods appears to be the first big meat company to invest in a business that, among other things, aims to reduce consumption of chicken, beef and pork by replacing it with plant proteins.

Tyson, the country’s largest meat processor, announced last week that it was investing an undisclosed amount for a 5 percent stake in Beyond Meat, a company based in El Segundo, Calif., that makes “meats” from protein sources like soy and peas.

Beyond Meat this year began selling the Beyond Burger, for instance, a plant-protein burger sold fresh that sizzles and oozes fats while cooking on a griddle.

Whole Foods Market apparently finds it close enough to the real thing that the supermarket chain has been selling Beyond Burger next to the meat case in its stores.

“The quality of the Beyond Burger is amazing,” said Monica McGurk, a former Coca-Cola executive who joined Tyson in spring as senior vice president in charge of strategy and new ventures. “We think it’s a game-changing product that gives us exposure to this fast-growing part of the food business.”

Terms of the deal were not disclosed. The financing round includes other investors like the Humane Society of the United States, which also previously invested in Beyond Meat.

Americans are eating more plant-based foods, leaving conventional food companies scrambling to catch up. The Plant Based Foods Association said businesses in the United States, which include Beyond Meat, Califia Farms and Heidi Ho, rang up $4.9 billion in sales for the 12 months through June, and grew faster than the food business over all.

The venture capital arm of General Mills, 301 Inc., also has invested in Beyond Meat, as well as in Kite Hill, which uses nuts and other plant proteins to replace dairy products in cheese and other dairy items.

Michele Simon, executive director of the Plant Based Foods Association, said Tyson’s investment was the first she knew of in which a big traditional meat producer took a stake in a plant-based company.

In 2014, Pinnacle Foods, which owns the Armour canned meats brand, bought the maker of the Gardein line of plant-based meat substitutes. Armour, however, is a modest part of Pinnacle’s business, which includes the Duncan Hines and Birds Eye brands.

“The question in my mind with these acquisitions is always why they’re being done,” Ms. Simon said. “The most positive view is that this means the meat industry is shifting away from animal meat to plant-based meat, but I don’t think we know that’s the case yet — it could also be a way of distracting attention from their industrial meat business.”

Ethan Brown, the founder and chief executive of Beyond Meat, said he knew the investment would raise eyebrows, particularly among the most ardent vegans and vegetarians.

“I’m hoping, though, that they and others will see this as part of a deliberate course of action to get out of the penalty box that’s the ‘alternative’ section in the supermarket and get into a mainstream discussion with the consumer,” Mr. Brown said.

Research conducted jointly last year by the NPD Group, Midan Marketing and Meatingplace, an industry publication, found that 70 percent of meat eaters said they used a meat substitute in place of meat protein at least once a week. And 22 percent said they were using such substitutes more frequently than a year earlier.

Beyond Meat raised $17 million last year from investors. That was the third round of financing that CB Insights, a data collection and research firm, could pinpoint, and the only one for which a dollar amount was disclosed.

Read more at: http://www.nytimes.com/2016/10/11/business/tyson-foods-a-meat-leader-invests-in-protein-alternatives.html?_r=0

Most of the food and snack products, marketed as meat substitutes are either frozen, refrigerated or shelf-stable. Products offered by leading meat substitute companies such as Amys Kitchen, Beyond Meat and others, primarily belong to frozen category. However, shelf stable category would exhibit the fastest growth in the coming years.

Know more about meat substitute industry at: https://goo.gl/kDs9HE