In the much-buzzed-about plant-based space, R&D efforts continue. Plant-based protein company Beyond Meat, of El Segundo, Calif., recently added a new plant-based steak (see page 97 of Editors’ Picks), and a Vancouver, British Columbia-based company, Urbani Foods, has rolled out Misteak, a vegan ribeye-like steak. Meanwhile, Redwood City, Calif.-based Impossible Foods’ newest product is meatless Impossible Pork, containing 18 grams of protein, with 59% less total fat compared with 70/30 blends of ground pork.
Still, meat alternatives and analogs aren’t taking over grocery cases anytime soon. Beyond Meat, for its part, did turn in growth this year, but at a less-than-expected rate, and its stock slid. Major meat processor JBS USA, based in Greeley, Colo., revealed that it’s shuttering its plant-based meat business, Planterra. Also, the 2022 “Power of Meat” study, conducted by 210 Analytics on behalf of FMI — The Food Association, shows that only 9% of consumers are eating plant-based meat alternatives weekly.
What about cell-based meats? The “Power of Meat” report indicates that 40% of consumers are unwilling to try cultivated meats, but the category did get a push forward with the mid-November clearance approval of lab-grown meat by the U.S. Food and Drug Administration.