Healthy living
mid-size and more established companies to scale so they can meet growing consumer demand, and how can we work with policymakers, farmers and other agricultural stakeholders to ensure that the system supports a decisive shift towards a plant-based future.” Environmental awareness and plant-based alternatives are part and parcel for the avid consumer, then – something that Patelou warns could trip up the sector with new businesses making their way on to the market. “I think that consumers would not be forgiving if they found out that, in terms of environmental sustainability, the products were not delivering what they expect them to deliver,” Patelou explains. “I think that if consumers feel that they’re being misled or deceived, and that the products are not meeting the expectations in terms of the holistic sustainability, and […] fairness, health environment, and so on. I think this could be damaging not only for the few companies that will not pay attention to that, but for the entire sector.
“In terms of one of the challenges for the sector going forward is that it doesn’t lose its identity and its values,” says Patelou.
Exponential growth
“By growing foods for direct human consumption, we can mitigate the impact on the planet and create innovative solutions to feed the world’s rapidly growing population,” concludes Dreskin. For her and PBFA, it is imperative to help companies meet this demand: “The question is really how can we support innovative start-ups, as well as
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So, what are the other main challenges facing the sector? For Patelou, it is about gaining an equal playing field. “We want at least equal taxation, because if you look at a number of European countries, you have a reduced VAT for meat and dairy, so 3% or 4%, but you have full VAT at 20–21% for plant-based products because they’re considered a luxury and not essential. “We don’t want favourable treatment, we want at least equal treatment,” Patelou adds. “We’re seeing a lot of regulation coming our way. You know, the unnecessary regulation on product naming saying that people are confused about a veggie burger.” For Dreskin, her concern is focused on supply troubles as the industry was impacted greatly due to network delays and challenges from the pandemic. “Supply network interruptions and pandemic restrictions that create widespread volatility in the food industry are likely going to continue as we move forward, but the plant-based foods industry is uniquely positioned to overcome these challenges.” In spite of these challenges, the industry is still growing exponentially. With the global market expected to grow at a CAGR of 8% by 2026, the plant-based industry shows no sign of slowing down. “The potential for growth in plant-based foods,” says Dreskin, “comes with many exciting advances not only in products available on the shelf but transformation in the broader food system.” Whether its Quorn, Beyond Meat or Impossible foods, there are a wealth of options available. ●
Ingredients Insight /
www.ingredients-insight.com
Visualcapitalist.com
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