My Key Take-Aways from Good Food Conference
Ellie Victor, CEO
Silicon Valley played host to the Good Food Conference and it was exciting to be on the ground floor to get a taste of the
good food movement as it moves mainstream!
Here are a few highlights:
- 54% of Americans are actively trying to eat less meat
- The ~$1.4 trillion meat industry is ripe for disruption and plant-based products are disrupting every aisle in your grocery store
- The world’s top three meat companies have repositioned as “protein” brands and are getting into plant-based alternatives
- Fast food restaurants Burger King, Carl’s Jr, Taco Bell and Chipotle are paving the way by introducing consumers to plant-based alternatives
- AT Kearney predicts alternative meats will make up 60% of the market by 2040
- “Conscious consumption” and “better for all” describe mega consumer trend led by millennials and Gen Z who care about the impact of their
choices on their bodies, the environment, animal and social welfare
- 30% of world’s resources are used to raise animals for food. This approach isn’t sustainable as world population is expected to grow 27% from
7.7 billion today to 9.8 billion in 2050
- Who owns the meat counter? Purveyors of premium plant-based meats like Beyond, Impossible, and Hungry Planet are pushing the envelope
by convincing grocers to place their product in the counter with the steaks and pork chops instead of the refrigerated section with tofu.
Lawyers say it will come down to a battle of freedom of speech vs. consumer confusion
- The most mind-blowing innovation was using a 3D printer to create a vegan steak! Should the printer be in the store window or the back
where the steaks used to be trimmed?
It’s fascinating to be on the ground floor of any movement, maybe this will be as successful as the move to electric vehicles led by an innovative disrupter, the move to fair trade, organic clothing led by a mission-driven Patagonia, or the move to quit smoking led by politicians? In any case, we believe words matter and telling a story that resonates with customers will help determine the winners.
What do you think?