Cargill CEO Says Plant-based Protein Will Cannibalize Demand For Meat
The meat company is racing to meet demand for plant-based products through significant investments into the alt-protein industry.
David MacLennan, chief executive officer of Cargill.
David MacLennan, CEO of global agribusiness corporation Cargill Inc, says that plant-based protein will significantly eat into the consumer demand for meat, as the food giant prepares for the shift away from animal protein with significant investments into the alt-protein industry.
“Our analysis is that in three to four years plant-based will be perhaps 10% of the market. We’re a large beef producer and that is a big part of our portfolio,” MacLennan told delegates at a National Grain and Feed Association convention. “So there’s some cannibalization that will occur.”
The CEO also revealed that Cargill is researching plant-based protein alternatives using corn as its base. “We’re not only thinking about North American launches, but across the globe,” Cargill told Food Navigator. “Corn protein is a great protein for meat alternatives because it’s got a great neutral flavor profile and really good performance.”
The company is also a key supplier of pea protein to meat alternative company Beyond Meat Inc through its joint venture with PURIS Foods, and an investor in Bflike, a Dutch technology leader in the rapidly evolving meat and fish alternatives categories.
Cargill also launched its own plant-based protein brand in China, offering chicken-alternative nuggets and beef-alternative patties. PlantEver debuted after a successful trial of its plant-based nuggets at three outlets of the fast-food chain KFC, which saw the plant-based fried chicken sell out in just one hour. And last year, Cargill introduced co-branded vegan scallops and chicken tenders with Japan-based store chain, Lawson.
With more and more Americans eating plant-based products, Cargill’s not the only meat company racing to meet demand. Tyson, one of the world’s largest poultry, beef, and pork producers, is also working to ramp-up their vegan offerings. Raised & Rooted, Tyson’s own meat-free company range, launched a range of plant-based meats at U.S. retailers nationwide this year.
Curious about veganism - why not host a Vegan Night with family and friends this season? Visit Species Unite’s Vegan Nights to find recipes, tips, and more on how to host your perfect evening in!
More stories:
Species Unite
A collection of stories of those who fight the good fight on behalf of animals.
The footage was reportedly recorded at Marshall BioResources in North Rose, New York, where up to 22,000 dogs - mostly beagles - are being bred for animal experimentation.