Meat alternative category enters survival of the fittest era
After several boom years, the meat alternative category is faltering, leaving brands with the task of setting themselves apart in a still crowded field.
After an initial boom, the meat alternative category has slowed with many of the brands that made early inroads folding or faltering.
Earlier this week, US-based vegan burger market Beyond Meats reported sales had declined by a third in its most recent quarter. In June, British plant-based meat brand Meatless Farm was reportedly close to falling into administration.
Elsewhere this year, Heck said it was reducing its vegan range, while FMCG giant Nestle withdrew two of its plant-based brands from the UK entirely.
Rewind a few years, and many companies were quick to enter a growing category. From start ups, to established meat producers turned vegan product makers, there was a seemingly endless slate of launches.
