Page 60 - Farm and Food Policy Strategies for 2040 Series

Memphis Meats investment followed what Rabobank’s Nick Fereday calls “Tyson’s game
changing investment in Beyond Meat in October 2016.”

Nielsen IDs what consumers want

A 2018 Nielsen study for the Plant Based Foods Association (PBFA) makes it clear why industry
leaders like Cargill, Tyson, Unilever, and Walmart are turning their battleships. The consumer
research report spotlights what consumers want and why they’re eager to pay a premium to get
perceived health and environmental benefits. That’s exactly what food industry leaders are
scrambling to provide: look-alike, taste-alike plant-based or lab-created alternatives to traditional
foods.

Nielsen’s numbers explain why the
food industry is rushing to respond
to the already disrupted market.
After 8% growth for 2017, total
plant-based food sales now top $3.3
billion, catapulting 2018 growth
(for a 52-week period ending in
June) to an eye-popping 20%. The
Nielsen report compares that with
just 2% growth for all retail food
sales last year.

The Nielsen report highlighted even
more dramatic growth for plant-
based meats, a growth of 24% in
2018 after a 6% surge in 2017.

With accelerating demand for plant-

based foods including meat and the

full range of dairy products such as
cheese and soymilk, Nielsen’s

Source: Plant Based Foods Association 1 earlier 2016 Global Health and

Ingredient-Sentiment
Survey drawing from 63 countries explained that not just U.S. but the world’s consumers are

increasingly health-focused for four reasons:

• “Global graying: The world’s population is aging rapidly ... and living longer.”
• “Chronically ailing: Chronic diseases ... are on the rise globally.”
• “Food as medicine: Consumers are taking a more active role in their health care, which

includes following proper nutrition guidelines.”
• “Educated and connected consumers: Technology gives consumers access to a wealth of

health information and products they can use to exercise greater control over their
health.”

Tyson is eager to be a leader in the race to satisfy consumers’ rapidly growing taste for new
alternative foods seen as health-promoting, transparent and sustainable. Tyson Foods President
& CEO Noel White clearly is determined to lead, promising his company’s “Green Street” high-
protein alternative meats will be in supermarkets this year. In his Feb. 7 earnings call, White said

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