Food From Thought: September 2021
Oatly continues to grow, Unovis has joined the Green Protein Alliance and more.
Where is the next frontier in plant-based foods? The freezer aisle.
That’s because frozen meals have an incredibly long shelf-life and offer both variety and convenience. As the pandemic forced restaurants to shut down, meal options became limited and food hoarding behaviors in grocery stores took effect. Consumers turned to frozen meals as a source of security. Plant-based frozen meals also served as a simple solution for new plant-based adopters, those seeking variety in taste, and consumers tired of cooking.
How do we know this? Because we’ve seen it before.
Refrigeration found its strongest supporters in its early days among those who wanted to ship and preserve meat, rather than live animals. This helped lead to the industrialization of food and, by the 1970s, a surge in premade microwavable frozen meals. By the turn of the century consumers started demanding more nutritious offerings, leading to new frozen selections with higher quality, taste and better nutrition. This is now coinciding with the growth of the plant-based category and, as a result, frozen meals experienced one of the highest growth rates of food categories during 2020, regaining a foothold in the CPG industry.
This month Juliana Green, our Senior Associate for North America & Israel, dug deep on the current state of the frozen foods market and what increasing alternative protein adoption will mean for this stalwart category.
Planet Tracker: Will alternative proteins disrupt textiles?
Supermarket News: Plant-based foods are here to stay—and grow
Unovis becomes first investment firm to join the Green Protein Alliance, boosting sustainable food ambitions in The Netherlands. Read More