While the world is witnessing a whole new trend of consumers shifting to vegetarian and vegan diets, various fast-food chains are looking to tap this segment. Recently, QSR chains like KFC and Dominoes announced their entry into this segment, where they are launching fake meat based menu.
KFC conducted a test last year in Tennessee and North Carolina; it found out huge demand for plant based meat there. Beyond Meat, which is an LA-based company making plant-based meat such as pork, chicken and beef, will supply plant-based fried chicken to the stores of KFC in the US, as per a Reuters report. Similarly, other brands such as McDonald’s, Burger King, and Dunkin have also rolled out their fake pork and beef patties. However, Yum Brands KFC is the first one to introduce plant based chicken in the industry today.
Not only this, but the beverage giant- Starbucks has also announced that it is soon going to launch Plat-based Breakfast menu in the markets of the US and Canada this year. Restaurant India earlier reported that Unilever Food Solutions- Global’s acquisition of Vegetarian Butcher.
This Dutch brand supplies meat substitutes and was started by a ninth-generation farmer, Jaap Korteweg. When Holland witnessed the outbreak of swine flu, Jaap was asked if he could keep the cadavers in his cold storage facility. From then on, he started keeping cattle in an organic and animal-friendly way until it was time to take it to the slaughterhouse. This incident impacted him so much that he decided to become a vegetarian. But then he loved eating meat and thus decided to meet his cravings for meat without actually killing any animals.
Lucrative opportunity for suppliers
Nevertheless this new trend is going to increase the market share of companies like Beyond Meat and Impossible Foods, which are into the business of selling fake meat in the coming years especially in the Asia pacific Market, which has a large Asian population.
Reasons behind the shift
There are various reasons behind this shift. Growing environmental issues such as climate change is one of the major reasons. Also, various health concerns related to the animal based proteins have made consumers go for plant based proteins, which eventually helping plant-based meat suppliers to grow their revenues.
Mock meat in Indian market
Meanwhile, in a country like India, where major food giants are forced to introduce vegetarian options on their menu, including plant-based meat options might not be a bad idea. Although we see a few vegan restaurants coming up across the country, particularly in the metros, but fast food chains here are yet to tap this segment of plant based meat.
Researchers from the University of Bath, the Good Food Institute, and the Center for Long Term Priorities collaborated on the first quantitative comparison of consumer attitudes towards plant-based and clean meat across China, India, and the U.S.
The report found out that the three most populous countries in the world have robust consumer interest in plant-based and clean meat. Interest in clean meat is expected to grow once there is a product on the market and consumers are more familiar with it.