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Now is not the best time to chase healthy and delicious processed foods, but that’s exactly what two major plant-based meat producers are trying to do.
Beyond Meat wants to convince people that vegan versions of meat products are good for you. So did its competitor, Impossible Foods, which recently changed the color of its packaging from green to blood red, the better to attract carnivores.
Last year, Beyond Meat changed some of its products to cut fat and sodium and simplify the ingredient list. Impossible Foods launched a “healthy space” and rebranded to highlight its delicious meat. Products from both companies are considered healthy by the American Diabetes Association and the American Heart Association.
It’s all part of an effort to bring back the sale of plant-based meat at a time when there’s increased scrutiny of industrially processed foods, with long ingredient lists. . Gov. Gavin Newsom of California, Democrat, ordered a crackdown on ultraprocessed foods, new research has shown a link between ultra-processed foods and negative effects on health and choices. Robert F. Kennedy Jr., President-elect Donald J. Trump’s health secretary, criticized processed foods.
Plant-based meats are ultraprocessed, but not necessarily unhealthy, several experts say. The product generally contains no saturated fat, no cholesterol and more fiber than animal meat, and no hormones or antibiotics.
An analysis of dozens of studies published last year in the Canadian Journal of Cardiology found that compared to meat, plant-based medicine “generally depends on range from neutral to beneficial,” says Matthew Nagra, a naturopathic doctor in British Columbia. who led the review.
The study found no evidence that some of the “sides” of plant-based meat, such as food processing and higher sodium, outweighed the potential heart benefits for a eating it, not the beef, he said.
Health and nutritional concerns are among the main reasons people are looking for plant-based meat, and Beyond Meats and Impossible Foods want to avoid ultraprocessed brands, or at least add nuance. Ethan Brown, founder and chief executive of Beyond Meat, said that the process of extracting protein from legumes and turning them into meat-like products has been violated by companies using animals as intermediaries. .
“It’s a wonderful way to eat directly from the land and from the farm without CAFOs or factory animals,” he said, using the acronym for animal feed operations.
If plant-based meats must be classified as processed foods, the argument is that they are more like canned beans than Twinkies, and far from processed meats, the category of hot dogs, meat and deli meat, which the World Health Organization has. classified as carcinogenic to humans.
“Processed, if you really want to look at it from a nutritional perspective, means it’s very artificial and has very little nutritional value,” says Peter McGuinness, chief executive of Impossible Foods.
“We are a nutrient dense product,” he continued. “That’s not the traditional definition of processed.”
It remains to be seen if more consumers could be duped. In recent years, the plant-based food sector has been on the decline.
Five years ago, it looked like protein alternatives were poised to take over red meat by providing a healthier, more ethical and better-for-the-climate alternative. The market was down and a shadow was hanging over the scene, thanks to a small part of Beyond Meat’s story. Since the company went public in a blaze of glory in 2019, the stock price has fallen from $234 to less than $4 per share, and the company is over $1 billion. dollars in debt.
Mr Brown condemned attacks from the meat and pet antibiotic industry and criticism from whole food purveyors. Plant-based meats are also seen as “awakened,” while a series of bombastic ads linked to tobacco lobbyist and public relations strategist Richard Berman have branded the products as full of chemicals. Between 2020 and 2022, the number of plant-based meat consumers who believed the product to be healthy fell from 50 percent to 38 percent, according to the IMF, the Association of the food industry, a trade group.
Mr McGuinness said the sector could be overheated and overhyped, prompting other companies to flounder with low-end products that failed, prompting critics to say plant-based meat is a fad.
Impossible Foods, which is privately held, is in a safer position than Beyond Meat, one analyst said. Mr McGuinness said it was “on the road to profitability”, with a strong balance sheet and no debt. However, Beyond Meat faces similar challenges in trying to win over meat eaters, many of whom have never tried plant-based products.
“I think this is one of the biggest communications challenges in the history of the company,” Mr McGuinness said.
Compared to meat, the market for other plant-based products is small. Plant-based meat and seafood will account for $1.2 billion in U.S. retail sales by 2023, compared to $100 billion for conventional meat and seafood, according to the Good Food Institute, a research organization. And meat consumption is increasing worldwide.
Emma Ignaszewski, senior associate director of the Good Food Institute, said the expansion of the plant-based sector depends on consumer priorities and how quickly companies can innovate, improve taste and lower the cost – plant-based meats can cost twice as much. the same animal.
“Growth is inevitable,” said Ms. Ignaszewski. However, he said research shows that the majority of young consumers in 10 countries plan to spend more in the future on plant-based products due to health concerns. , sustainability, animal welfare and climate change. Plant-based options have about 11 percent the environmental impact of meat, according to the Good Food Institute.
Beyond Meat hopes that its updated burgers and beef, which include more legumes and avocado oil, will help silence critics and win over consumers. I spoke with Joy Bauer, nutritionist and nutritionist, and Dr. Matthew Lederman, co-author of “Forks Over Knives Plan” and the book “The Whole Food Diet” company. Both said the goal of plant-based meats is to provide a healthier option when people crave burgers.
“For most people, myself included, putting beans and lentils on a hamburger bun will not satisfy that need,” says Dr. Lederman. When patients switched from plant-based meats to red meat, they often made other lifestyle changes like exercising more and eating more vegetables, he said. “It slows down healthy lifestyle changes,” he said.
Dr. Lederman also challenged the notion that conventional meat is natural; An estimated 99 percent of livestock in the United States live on factory farms.
“They are feeding them illegal food,” he said, referring to cattle on factory farms. “They put them in an illegal situation. They release them with hormones and antibiotics. They are in these small, enclosed areas. Their bodies are full of stress hormones.”
Not everyone will be defeated. Michael Pollan, an influential author who urged people not to eat foods their grandmothers didn’t know, criticized plant-based meats. Mr. Pollan declined to comment for this article.
Marion Nestle, professor emeritus of nutrition, food studies and public health at New York University, said that plant products are still being processed, and long-term studies of their effects are needed. . However, he allowed some good to come from it. “I’m sure it’s better for the environment than beef,” he said. “My prediction is that if you don’t eat beef and eat this, you’ll be better off than people who eat beef.”
Although many consumers are attracted to its products, Beyond Meat’s challenge is still huge. The company reported revenue growth in the third fiscal quarter of 2024. But John Baumgartner, consumer food analyst at Mizuho Americas, a financial services group , said the increase was driven by higher prices and it is unlikely that Beyond Meat’s stock will recover. He also said that while Beyond Meat has been working on improving its burger, Impossible Foods has likely benefited from rolling out more products, including faux chicken options.
It should be noted that in their latest messages, both Beyond Meat and Impossible Foods downplayed the climate benefits of their products compared to meat, which encourages greenhouse gas emissions, the deforestation and water pollution. Under Mr McGuinness, Impossible Foods introduced a “fun and nutritious” message. “When you talk about it, you can talk about the weather, but people are selfish, too,” he said.
