Earlier today,
Tyson Foods announced the launch of its first foray into the meat replacement market with the unveiling of its
Raised and Rooted brand.
While the company’s plant-based nuggets present a direct challenge to companies like
Beyond Meat, Tyson Foods is playing a different game by introducing consumers to foods that are blended with meat and protein replacements.
So it’s not exactly a direct competitor to Beyond Meat, a former Tyson Foods venture portfolio investment, or
Impossible Foods, which are the two current leaders in the growing alterna-beef category.
Rather it seems to be an attempt to up-sell customers on products with less beef for potentially more money? Tyson did not respond to a request for comment by the time of publication.
For Springdale, Ark.-based Tyson Foods, making alternative proteins is less of an optional strategy and more of a necessary response to what could be an existential threat to the traditional meat market in the U.S. and around the world.
By 2040 traditional meat consumption could fall by 33%, according to a recent analysis by the consulting firm
A.T. Kearny.
Chart courtesy of AT Kearny
