COVID-19 Drives Demand For Plant Based Alternatives, Modern Meat In Popular Demand
Industry: Food & Drink
As the coronavirus crisis disrupts the meat industry, many consumers switch to plant-based meat alternatives.
New York, NY (PRUnderground) May 30th, 2020
Although there’s been a tremendous spike in vegan products sales growth over the past months, coronavirus only served as a booster to what was already a fast developing industry. According to research grocery sales of plant-based foods that directly replace animal products have grown 29% in the past two years reaching $5 billion. Modern Meat, an award-winning alternative protein company, has also been thriving in online and retail sales since the beginning of pandemic.
Tara Haddad, the company’s CEO, has embarked on this project to create authentic products made of whole food ingredients that you can actually pronounce and understand. Some of the “food tech” companies that have been criticized by health experts composed their products in labs with scientists. Tara took the game to a new level and partnered with some of the best chefs in Canada to create healthy gourmet foods with ingredients that are found in every grocery store.
In one of the interviews Tara shares, “As a family, we were looking to transition [to a plant based diet], but I felt like the products that I was looking at on the market were not as healthy as they claimed to be. I didn’t quite trust their ingredient profiles and I thought maybe I should just eat meat as opposed to eating those over-processed items.”
As a result, Modern Meat products are 100% vegan, soy, nut, gluten and GMO free, and made with no artificial preservatives or additives. In fact, their entire line is made of 12 or fewer ingredients, whereas the amount of protein is the same as in real meat.
Amidst the pandemic Modern Meat has partnered with PlantX, a healthy lifestyle platform, to deliver pre-made vegan meals cooked by Modern Meat chefs. This yeat they’ve also introduced new items on the shopping menu such as Modern “Crab” Cakes, Stir Fry Strips and Tarragon Remoulade. The company’s goal is to revise the product line each quarter throughout the year.
For years plant-based alternatives have only been a prerogative of vegans and vegetarians, but as more meat substitutes appear in fast-food chains and even fine dining restaurants, it is not unusual for carnivorous consumers to be a part of the client base. In fact, as the awareness related to rising obesity, animal rights and consciousness spreads, plant based protein market gains more popularity each year, and not only for health reasons, but also for their sustainability benefits. Producing meat alternatives requires substantially less water, less land, the manufacturing emits less greenhouse gases and overall has a smaller environmental impact.
With the economic and ecological crisis in place, it comes at no surprise that the plant based market is expected to grow in size from $12 billion today to $30.92 billion by 2026 at Compound Annual Growth Rate of 14.8%. With such promising numbers Modern Meat company is planning to soon go public, only a year since its official launch. www.themodernmeat.com
About Modern Meat
Modern Meat is a plant-based meat alternative company based in Vancouver, British Columbia. We create a selection of healthy, gourmet vegan food crafted from natural ingredients and derived from plants. Our team is passionate about reducing our environmental footprint by choosing plant-based products over traditional meat. Health-focused, all our products are Soy, Gluten, Nut and GMO free, and made with no artificial preservatives or additives.