Moving beyond nuggets, burgers: How alt protein can capitalize on areas of whitespace innovation

“[The alternative-protein market] is a crowded, competitive market of which I would say both grocers and consumers are a little tired of what the offering looks like, and I think maybe a little disappointed broadly speaking with some of the offerings that [are] out there. I do not think there is a lack — and we have heard this from groceries as you talk to them directly — of interest from consumers. I think there is a lack of offerings meeting consumers’ needs. And so, in my mind, I think that is the gap that needs to be filled. And until then, I think you are going to see this dynamic of somewhat softness in the market because the current offerings do not meet that demand,” Rashid said.  

Editor’s note: Looking for more insight into the future of the alternative proteins market? Then, make sure to attend the Future Food-Tech Alternative Proteins summit in Chicago, June 17-18. On the first day, the “Future-Proofing the Alt Proteins Sector: What has Gone Wrong and What Lies Ahead?” will discuss overcoming market challenges to grow in the market. Visit the event website here​​ to learn more and click here to register​​.

Source: William Reed

Alt-protein products ‘did not meet the whole needs of the consumer’

During its hype cycle in the early 2020s, alt-protein companies ended up creating a lot of similar products — including burgers, nuggets and grounds — that “were not particularly differentiated,” Rashid explained.

“The products did not meet the whole needs of the consumer, in the sense, that it may meet someone’s perspective on sustainability, but not necessarily nutrition or taste. … Someone who is looking to tick a couple of different boxes [on] nutrition, taste, better-for-you and better for the world maybe could not find a product that meets all of those needs,” Rashid said.