Meat Companies Seek New Plant-Based Niches
Leading meat companies are venturing into the plant-based category via investment in startups and by developing their own new alt-meat products and also via the development of hybrid meat/alt-meat offerings.
Big meat companies are facing a huge dilemma in dealing with plant-based alternatives: Consumers want to try them out, so they might as well have some offerings, but at the same time they clearly need to keep building their legacy animal products businesses.
So they are taking two approaches, often simultaneously. At the same time they are investing in and developing side businesses in plant-based alternatives, meat giants also are finding ways to put their existing products into plant-substitute…
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