Plant-based meat alternatives could see sales increase once the COVID-19 epidemic has subsided, an industry analyst has suggested.
Andy Coyne of GlobalData Food noted an uptick in plant-based protein sales in China, where the virus first originated, and where industry is starting to return to relative normality.
"The food industry will be looking to China for future trends because it was first into the Covid-19 crisis and is one of the first to emerge from it," Coyne said.
"US 'alt-meat' company Beyond Meat has just launched in China, through the Starbucks chain, and fast-food giant KFC is offering meat-free 'chicken' products there made by US agri-food giant Cargill. This seems to be indicative of a wider trend in the country of looking for protein alternatives to meat - and of companies looking to tap into that interest."
Health And Wellness
Coyne noted that while COVID-19's suggested link to wild animal markets may be a factor here, the likely catalyst towards plant-based growth is due to increased consumer awareness of health and wellness.
"Globally, the market for alternative-protein was becoming increasingly crowded before Covid-19 struck, mainly catering for so-called 'flexitarians' looking to cut their meat intake for a variety of reasons but with health one of the principal factors," he said.
"There is no reason to think Covid-19 will slow what was an already growing consumer interest in alternatives to meat. I suspect the reverse will be true and we will see an even larger percentage of the population turning their back on meat, even if it's only for a day or two a week."
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
