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THE PENDULUM SWINGS Why 2020 wont be like 2019 in the meat - - PowerPoint PPT Presentation
THE PENDULUM SWINGS Why 2020 wont be like 2019 in the meat - - PowerPoint PPT Presentation
THE PENDULUM SWINGS Why 2020 wont be like 2019 in the meat analogue space HOW CRAZY WAS THE RIDE? MONEY MONEY MONEY MORE MONEY MONEY MONEY A LITTLE PERSPECTIVE $1 TRILLION $3 Billion A BIRDS EYE VIEW Global poultry meat market:
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MONEY MONEY MONEY
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MORE MONEY MONEY MONEY
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$3 Billion $1 TRILLION
A LITTLE PERSPECTIVE
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A BIRD’S EYE VIEW
- Global poultry meat market: US$347.3 billion
- 17% of that market is in the United States
- U.S. consumers eat > 93 lbs. chicken
annually
- U.S. consumers eat 290 eggs annually, and
counting
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¡ Nestle ¡ Beyond Meat ¡ Morningstar Farms ¡ Conagra/Gardein ¡ JUST ¡ Rebellyous ¡ Improved Nature ¡ Worthington ¡ Alpha Foods ¡ Planted
FAUX FEATHERED FRIENDS
¡ JUST ¡ Daiya ¡ Spero Foods ¡ Conagra/Egg Beaters ¡ VeganEgg ¡ neat egg ¡ Orgran’s JUST Egg, made with canola oil and mung bean protein, accounts for 40%
- f all liquid egg sales in ‘natural’
grocery stores
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Trips in which MEAT SUBSTITUTES are purchased are FOUR TIMES MORE LIKELY to include MEAT.
IRI Shopper Loyalty data for FW/RW meat substitute product, ranked by Basket Co-purchase Index, 2018
REMEMBER THIS
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¡ Tim Hortons drops Beyond Meat products from its menus. ¡ White-hot interest in Impossible Whopper is dropping
- ff; makes an appearance on the value menu. Daily
sales down 12.5% § Popeyes Chicken store sales up 21.1% in Q4 ¡ IFIC survey: 41% like to try new things, 30% ‘curious’
REVERSE DIRECTION
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¡ Kroger, Chipotle introduce, or plan to introduce, private-label plant-based substitutes ¡ Hybrids – chicken and vegetables, beef and mushrooms – multiplying, compete for share-of-plate ¡ Gallup: 71% of b-to-b customers will move their business
MARKET SEGMENTATION
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¡ ‘Health’
§ Richard Berman/CCF
¡ Climate change ¡ Animal handling
FUZZY REASONING
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¡ Chicken meat composition ¡ Price point
NATURAL BARRIERS
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WHAT NOW?
¡ Back to basics: Closer to nature, less processed, lean, healthy, flavorful, your grandma used to eat it ¡ Sustainability as a central business tenet ¡ Humane handling ¡ Value-added
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