Sponsored by Beyond Meat
Growing interest in plant-forward eating is undeniable; 32% of consumers are looking to increase their plant-based meat/egg substitute consumption.1 Terms like non-dairy, vegan, and sustainable, once considered niche descriptors used by a small percentage of the population, are completely mainstream today. The global plant-based food market is expected to reach more than $61 billion by 2028.2
Even if your customers haven’t asked you directly for plant-based options, statistics are clear; according to Datassential, plant-based food on menus has grown a whopping 2770% over the last four years.
But why does plant-based continue to grow so quickly? In part, large-scale investment has helped the alternative protein space grow in the United States. Venture capital groups invested $1.05 billion into alternative protein producers in the first half of 2022, a 174% increase from $384.13 million during the same period last year, with no signs of slowing down. According to venture capitalist Johnny Ream, “we still have a very positive outlook on the alternative protein space. We are still in the very early innings, and the alternative protein space has much room to grow. We are the “pre-tipping point” on the adoption curve.”4 New technology means innovative products, which means amazing improvements in taste, texture, health, and price.
And why are plant-forward ingredients important to consumers? First, plant-based eating carries a halo of health that appeals to consumers. Tastewise’s 2023 Top Flavor and Ingredient Trends highlights that personal health is one of the biggest reasons consumers choose alternative meat products.5 Reducing one’s meat intake also stems from growing awareness of climate change; meat accounts for 57% of all greenhouse gases from food production, twice the amount of plant-based food production. 6
Consumers also are requiring greater levels of transparency about where their food comes from and how it’s produced. 79% of consumers changed their purchase preferences based on social responsibility, inclusiveness, or environmental impact.7 In other words, sustainable alternatives to animal-based meat could be a palatable solution for more people and the planet.
Who is driving the demand for plant-based food? Research from Innova Market Insights suggests there’s no single definition of a plant-based consumer. 62% or 79 million U.S. households are now buying plant-based products. 8 While vegetarianism and veganism is on the rise, flexitarians, those whose diets include both plant-based and animal protein, make up the largest group.
Flexitarians’ motivations are also the most diverse, from health and a desire for varied ingredients to animal rights, social responsibility, climate, and more. Veganuary, where consumers adopt veganism during the month of January, reached a record high in 2022 with over 629,000 people signing up from 228 countries.9 Terms such as climatarian, transparency, and clean label are also primed for mainstream use, thanks to their appeal to flexitarians.
So what does all this mean for operators? The plant-based trend is here to stay, and operators have a huge opportunity to profit by offering alternative meat on their menus. In a 2021 survey by NSF, 88% of food industry professionals said that they expect demand for plant-based products to increase, and Google searches for “vegan food near me” experienced a more than 5000% increase in 2021.10 Simply put, it’s time to give people what they’re craving.
As a greater variety of plant-based products is introduced to the market and consumers’ palates become more sophisticated, Beyond Meat® remains a leader in plant-based meat. Our newest product, Beyond Steak™ enables consumers of all walks of life to eat the foods they love without compromising taste, nutrition, or sustainability.
Beyond Steak™ seared steak tips are certified vegan, made with simple, plant-based ingredients and designed to look and taste just like real steak, with a lower environmental impact. Each serving is packed with 21g of protein and low in saturated fat. No GMOs, antibiotics, or hormones. Zero cholesterol. But most importantly, they’re perfectly seared, delicious bite-sized pieces that always satisfy with their crisp on the outside, juicy on the inside texture and savory flavor.
For foodservice operators, seared steak tips are as versatile as it gets, ready to add to any menu offering, from bowls to sandwiches and so much more. Easy to portion and simple to use. Beyond Steak is a fully cooked, ready-to-eat Foodservice item that goes from freezer to plated in about 5 minutes using a pre-heated cooking surface (equipment may vary). Dress them up with the seasoning of your choice to match your menus and watch them disappear, bite after juicy bite. Want to experience Beyond Steak™ yourself? Foodservice operators interested in adding Beyond Steak to their menu can request a sample and get information here. It’s the steak alternative your customers have been waiting for.
