Wake up, meat industry!
A report from Rabobank tells meat processors to Watch Out! or protein alternatives will "steal their growth"
Food In Canada
Research & Development
Utrecht, The Netherlands – A report from Rabobank’s RaboResearch – Food & Agribusiness says alternative proteins are poised to push meat products off consumers’ plates.
The report, which was released late last year, is called Watch out… or They Will Steal Your Growth! Why Alternative Proteins Are Competing So Successfully for the Centre of the Plate.
For more on the report, click here.
Rabobank says on its website that the growth of the alternative proteins sector will continue for at least the next five years.
For meat processors, “doing nothing is not a rational response,” says Rabobank.
The report says there are opportunities for meat processors and if they don’t “seize these, they will turn into threats as other food and agribusiness companies respond.”
Rabobank recommends that meat processors:
• develop alternative protein sources
• learn from the companies already in the alternative protein space about: product innovation, positioning and marketing.
In its report, Rabobank identifies three main types of alternative protein products and breaks them down:
• Are meat analogues such as plant based sausages, burger patties, non-chicken schnitzel, etc.
• Are traditional plant-based alternative products such as tofu, tempeh, falafel, seitan, veggie burgers, etc.
• In all cases, says Rabobank, these are processed and prepared products
• Protein levels vary from about 7% to 20%
• Include insect protein available as a product and as a protein ingredient
• Include algae protein to be used as a protein ingredient
• Are products that are generally processed food
• Protein content varies according to the product’s formulation and requirements, but can be more than 20%, says Rabobank
Lab-grown meat products
• Are legume-based meat products using a shear-cell technology or farmed from animal cells
• In all cases, says Rabobank, by definition these are processed products
• Typically, the protein content will be similar to meat and poultry at around 20%