The food and beverage industry is constantly evolving, with new trends and innovations shaping the way we produce, distribute, and consume food. In recent years, plant-based products have gained significant popularity, catering to the growing demand for healthier and more sustainable options.
One company at the forefront of this movement is BENEO. Through strategic acquisitions and partnerships, BENEO aims to address key challenges in the plant-based market, including scale, cost, and timing issues. Last year, BENEO acquired Meatless, a specialized company for plant-based texturizing solutions. This acquisition allowed BENEO to enhance its expertise in developing high-quality plant-based products.
To further strengthen its position in the market, BENEO also took a 14% stake in Grillido, a German-based plant-based company. This investment not only provides BENEO with access to an e-commerce platform but also allows them to gather direct feedback from consumers regarding their plant-based preferences.
Despite reports of flagging demand in the plant-based category, BENEO remains optimistic. Demographic indicators indicate a strong and steady growth in the plant-based market, with younger consumers showing a greater inclination towards plant-based diets. Moreover, the global population is expected to reach over 9 billion by 2050, creating a significant demand for protein alternatives. As traditional animal-based production methods may not be sustainable, the shift towards plant-based solutions becomes even more promising in the long run.
However, there are challenges that need to be addressed to ensure the continued success of plant-based products. Affordability and scalability are two key factors that can impact mass consumption and price competitiveness in the market. To overcome these hurdles, companies must focus on increasing production volume at a faster pace.
Specialist equipment can also limit the production capacity of plant-based products. BENEO recognizes the need for sophisticated extruders but highlights the time and energy required to build them. To overcome this, BENEO collaborates with local partners and utilizes standard machinery whenever possible. This not only reduces costs but also contributes to a lower carbon footprint.
Another area where companies need to excel is the speed of new concept development. Consumer demands for healthier and less processed alternatives require timely responses from producers. To address this, BENEO’s subsidiary, Meatless, has streamlined its production process and even offers end-to-end services, including production and packaging, if desired by customers.
In the competitive food and beverage industry, having the right expertise is crucial for developing high-quality plant-based products. BENEO’s Meatless Chicken Chunks, for example, showcases their ability to assist customers in entering the plant-based market quickly and easily. By providing ready-to-use texturates, which require minimal additional ingredients, BENEO caters to the needs of both small and large food manufacturers.
For those who can overcome the challenges of scale, cost, and timing, the future of the plant-based market holds great potential for profitability. As the industry continues to evolve, companies need to stay ahead of trends, continuously innovate, and adapt to changing consumer preferences. By doing so, they can thrive in the dynamic food and beverage landscape.