Why Plant-Based Meat Sales are Declining + Food and Beverage Innovation at SIAL 2022

In the late 2010s, Beyond Meat developed the next generation of plant-based meat products, winning over consumers with its innovative new take on the veggie burger. However, 2022 hasn’t been as kind to the plant-based meat market leader. In this episode of the Xtalks Food Podcast, Sydney talks about where plant-based meat marketing falls short, resulting in declining sales amid inflation and a crowded market. Since there is little to no differentiation in the space among the most prevalent brands, consumers have no reason to consume one company’s soy-based products over another’s. Differentiating within a commodity category requires creativity, innovation and imaginative elevation, which are things that, unfortunately, few plant-based meat companies are attempting. The team agree that plant-based meat brands must market to all consumers, rather than just plant-based eaters, and differentiate themselves by highlighting certain ingredients or environmental benefits. 

Also, in this episode, Sydney talks about the recent SIAL food conference in Paris, which brought together more than 7,000 companies from 130 countries. From collagen water to protein chips to a plastic straw alternative, the exhibitors did not disappoint the more than 300,000 attendees from around the world. Key contemporary food trends in the spotlight this year included a natural approach to formulation, a heightened focus on the environment and ethics, and a digital transformation of the food and beverage industry. Sydney discusses three products featured at the event: a collagen-enhanced water, protein chips and a plastic straw alternative made from rye. Ayesha is skeptical of the collagen-enhanced water, worried that the company might be promoting false health claims. The team praise the conference for including not only food and beverage companies, but also those that focused on utensils and packaging. 

Read the full articles here:

Why Plant-Based Meat Sales are Stagnant in 2022

SIAL 2022 Brought Food and Beverage Innovation from Around the World

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