SPECIAL SUPPLEMENT: Meat Alternative Trends and Technology - May 2022 - 21

unit will become adjusted EBITDA neutral or
better within 18 months.
Curtis Eugene, president and chief operating
officer, said during a Feb. 24 conference call to
discuss fiscal 2021 results that the plant-based
meat alternative category has " strong underlying
steady growth. "
" So, while we see the category growing, we
expect it to be at a more moderate but still
attractive pace, " Eugene said. " We estimate the
category will grow on average of 10% to 15% per
year, reaching a market size of approximately $6
billion to $10 billion by 2030. "
RELUCTANCE RULES
And while consumers express their willingness to
try plant-based meat alternatives, the same can't
be said for cultivated or cell-based meats. The
Power of Meat study found that consumers remain
somewhat skeptical about cultivated meat with
40% unwilling to try it.
" On the other end of the spectrum, we had 29%
who said they were willing " to try cultured meats.
" And again, you saw much more willingness
So, while
we see the
category
growing, we
expect it to
be at a more
moderate but
still attractive
pace. "
Curtis Eugene
among younger shoppers who also tend to struggle
a little more with the idea of animal protein, "
Roerink said.
BRIDGE WITH BLENDS
So, with consumers cooling on plant-based meat
alternatives and placing a hard stop on cultured
meat, blended items stand out as a format with
potential for success with consumers.
Blended items have much greater cross-population
appeal, whether across ages, ethnicities,
regions or other. Blended items are also a favorite
among core value-added meat consumers and
those who emphasize meat choices that keep the
planet, animal welfare and health in mind.
" Blended vegetable/meat items may be a
bridge to keep meat on the plate with a higher
level of permissibility, " the Power of Meat study
said. " Additionally, the user bases have a large
overlap with value-added meat consumers. This
provides insight into possible placement as well
as the opportunity to leverage value-added sales
data at the store level to determine potential
interest and placement. "
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Ingredient systems for Plant-Based and Flexitarian products:
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Tex® Systems- Marinade systems to improve
* Actogel®- Provide cold binding and thermal gelling to produce
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* SeasonRite® Flavors & Seasonings
AFS Ingredient Systems can be used to create the following plant-based
* Pepperoni
* Nuggets
* Bacon
* Sausage Links and Patties
* Meatballs
* Crab Cakes
* Fish Sticks
MEAT+POULTRY 2022 MEAT ALTERNATIVE TRENDS + TECHNOLOGY
* Fried Shrimp
21
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SPECIAL SUPPLEMENT: Meat Alternative Trends and Technology - May 2022

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