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Here are The Top 5 Companies Characterizing The Landscape of The Global Meatless Food Market
Published
Published Date : Jan 2023
Author : Pratibha Bhattacharjee
Biography : [Monday 5:41 PM] Pratibha Bhattacharjee Sr. content writer at Brand Essence Market Research. Passionate about content curation in the market research vertical. Always striving to create reliable and engaging industry-based content.

The Global Meatless Food Market is highly competitive in nature. With growing trends of veganism and vegetarianism, there has been an elevating demand for ideal meat substitutes. Various companies have emerged to fulfil the ever-growing demand for vegan meat.

Some of the prominent players operating in this industry are-

Danone S.A.

Market Position or History

  • In February 2021, Danone S.A. announced the acquisition of renowned plant-based food manufacturer Follow Your Heart. This deal will help Danone to diversify its vegan consumable products portfolio.
  • In November 2022, Danone S.A. inked an official partnership deal with Olympic and Paralympic Games Paris that will be held in 2024. The deal was announced by Danone’s CEO Antoine de Saint-Affrique and the Chairman of the Paris Olympic event Tony Estanguet. Under the terms of this partnership, the company will fulfil the dietary needs of the participants by delivering high quality plant based products.

Business Overview and Strategy

This multinational company was founded in Barcelona, Spain, in the year 1919. It is presently headquartered in Paris, France. It is known for its diverse product portfolio of plant-based products. Its product pipeline consists of international brands such as Nutricia, Actimel, Danette, Volvic, and Alpro, just to name a few. Numerous local brands also operate under this company namely, Oikos, Cow & Gate, Bledina, Horizon Organic, and Happy Family, among   others.

The company aims towards the manufacturing of sustainable edibles. Therefore, it has amplified its plant-based product portfolio. In 2018, Danone pledged to triple the sale of its plant-based consumables and accumulate around USD 5.7 billion by 2025. For that, it has been adopting robust business centric strategies. Danone strives to cater to the ever-growing demand for vegan consumables.

The Archer-Daniels-Midland Company

Market Position or History

  • In August 2022, The Archer-Daniels-Midland Company inked a strategic partnership deal  with New Culture which is a renowned animal-free diary company. Under this agreement, both the companies will jointly work towards the development and commercialization of plant based dairy substitutes.
  • In December 2021, The Archer-Daniels Midland Company announced the acquisition of Flavour Infusion International S.A. (FISA), which is a prominent manufacturer of flavor and ingredient speciality solutions. This deal is slated to assist Archer-Daniels in the expansion of its nutrition and flavor-based business.

Business Overview and Strategy

Founded in 1902, The Archer-Daniels-Midland Company is a pioneer in the food processing and commodities trading sector. It uses plant based ingredients like oilseeds, soybeans, canola, grains, and cereals, among others to manufacture a wide range of consumables, beverages, animal feed, and nutraceutical products, among others.

This company works on the principle of using natural ingredients to make nutritional products. It sticks to its commitment of relying on plant-based ingredients to solve the ever growing nutritional challenges across the globe. Archer-Daniels is keen on adopting advanced technologies to develop its food processing vertical. The company also promotes veganism among the masses by formulating catchy marketing strategies.

Beyond Meat, Inc.

Market Position or History

  • In January 2021, Beyond Meat joined hands with PepsiCo with an aim to develop and commercialize plant base beverages and snacks.

Business Overview and Strategy

In 2009, Ethan Brown established Beyond Meat, Inc. Its headquarters are located in El Segundo, California. It predominantly produces plant based or vegan meat products. Some of the common plant based meat products manufactured by the company are sausages, meatballs, strips, jerkies, burgers, and minces, among others. With extensive R&D activities, Beyond Meat has successfully developed plant-based beef products which is the first of its kind.

The company’s initiative to encourage the masses to adopt a vegan lifestyle is quite commendable. The strategies formulated by Beyond Meat to solidify its global position are quite efficient. In fact, the firm predominantly targets meat eating individuals along with existing vegans/vegetarians. It is known for using affordable advertising tactics for product promotions and uses most of its financial resources to boost its R&D activities and scale up the overall manufacturing process. Its prime goal is to make plant-based meat easily accessible to the masses and in lower costs.

Earth’s Own Food Company

Market Position or History

  • In May 2019, Earth’s Own Food Company announced the launch of an oat-based beverage range named Oat Barista. The product is said to be a healthier and sustainable substitute for traditional coffee.

Business Overview and Strategy

The company was established in 1995 under the name Soyaworld, Inc. It was in 2011 when it was renamed as Earth’s Own Food Company, Inc. The firm predominantly manufactures plant-based health food and beverages. Headquartered in Vancouver, Canada, Earth’s Own believes that consuming plant based food is a healthier option for our bodies and the planet. It further aims to transform the dietary trends of the masses by introducing flavourful vegan consumables.

The vast product pipeline of the company includes vegan butter, coffee, and milk, among others. In order to increase its customer base, Earth’s Own conducts extensive research to get actionable insights on the ever-changing dietary habits of the masses. Based on that, it updates the texture and flavour of its existing products while adding new ones to its vast pipeline.

Impossible Foods Inc.

Market Position or History

  • In March 2022, Impossible Foods inked a partnership deal with Kroger with an aim to develop meat substitutes that will be sold only across Kroger’s retail outlets.
  • In November 2021, Impossible Food announced to have secured a funding of USD 500 million. It was led by its existing investor Mirae Asset Global.

Business Overview and Strategy

The company was founded in 2011 by Patrick O. Brown. Its headquarters are located in Redwood City, California. It predominantly produces ideal meat substitutes for various products like burgers. The enterprise also manufactures plant-based sausages, patties, and strips among others. Impossible Foods’ primary mission is to end animal-based meat consumption by 2035.

It is carrying out extensive R&D activities to accurately replicate meat products. In fact, it intends to eliminate the taste and texture difference between plant based and original meat products. Apart from that, it is trying to reduce the price range for its products over time so as to amplify its consumer base.

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