A new frontier of pet foods based on alternative proteins is on the horizon, but manufacturers have to weigh the rational and irrational facts before committing to a change.
Alternative-protein based foods are in high demand from consumers, so much so that FinancialNewsMedia.com is projecting the global plant-based protein market to be valued at $34.5 billion by 2032—that’s up from $11.3 billion in 2022.
Five new products have been added to the company's New-Meat portfolio, including Redefine Tenderloin and Redefine Striploin premium cuts as well, as an entirely new category of Pulled Meat (beef, lamb and pork).
Despite the proliferating trend of veganism, meat consumption remains consistent worldwide. Today, the intake stands at around 350 million tons annually. A reliable source anticipates global meat consumption to reach between 460 million to 570 million tons by 2050.
The company has partnered with Luiten Foods to bring its cell-cultured Wagyu Beef to more than 25 European countries by 2025 with sustainability and climate as main motivations.