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New fish restaurants near me1/15/2024 ![]() Plant-based meat companies might also want to consider shifting their focus from the retail space to becoming ingredient companies, which can provide better margins, Eliyahu said. Shelf space has become more expensive, so they're looking for proof of concept, which also aligns with why a lot of new startups are targeting foodservice instead of retail.” “Now, retailers are more skeptical about introducing new companies on their shelves. in a few years, we'll see them in a lot of high-end restaurants because that is their path to market.”įoodservice provides plant-based meat companies with an easier path to market, as retail shelf space has become increasingly sparse, she said. We're already seeing a lot of really good traction towards that way of operating," Eliyahu said. "Chunk Foods, for instance. “Second thing is to start thinking about market as a food market and not a tech market, focusing less about the patents and more about the production, the end consumer, the mediators. Plant-based meat companies will also need to focus less on the technology component of their products and really focus on meeting consumer demands, Eliyahu said. “If it is not a household name, IPOs are not a good way of establishing that,” she added. Plant-based meat startups considering an IPO should first see if their product has widespread appeal, Eliyahu noted. “When you have equivalents to Beyond like Impossible, where the only divergence was they did not go IPO, and so successful right now, then you learn that perhaps this sector is not ready yet for the stock-market psychology.” because a lot of the problems the sector encountered was the investor psychology that drove down Beyond Meat’s stock price,” Eliyahu said. Beyond Meat’s stock price is currently down approximately 90% from its initial offerings and 97% off its peak in July of 2019. This year, the plant-based meat market have faced a tighter capital market, while those that went the IPO route quickly faced scrutiny and stock declines, Eliyahu noted. ![]() The US meat and seafood substitute market is valued at $1.82 trillion in 2023, up from $1.729 trillion in 2022, and the segment grew a 9.7% CAGR from 2018-2023, according to Euromonitor. Was the plant-based market ready for the stock-market mentality?ĭespite declines in units across several categories, the plant-based protein market is registering dollar growth, per Euromonitor data. MorningStar Farms they need to battle for their market share,” Miri Eliyahu, senior research analyst of food and beverage at Euromonitor told FoodNavigator-USA. “With the companies that are already in retail markets that are already established, I think what we're going to see in 2024 is not necessarily a return to basics as much as just trying to maintain their market share because new companies coming to market every day, and now established veterans like Gardein, they need to battle for their market share. Emulsifiers, stabilizers, hydrocolloids.Chocolate and confectionery ingredients.Carbohydrates and fibers (sugar, starches).Plant-based, alt proteins, precision fermentation.The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". ![]() These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly.
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