Top 10 Meat-Alternative Companies Dominating the Market
Introduction
In recent years, the demand for meat alternatives has been on the rise as consumers become more conscious about their health, the environment, and animal welfare. This has led to the emergence of several meat-alternative companies that are dominating the market with their innovative products. In this report, we will take a closer look at the top 10 meat-alternative companies that are leading the way in this growing industry.
Beyond Meat
Beyond Meat is one of the most well-known meat-alternative companies in the market. The company was founded in 2009 and is known for its plant-based burgers, sausages, and meatballs. Beyond Meat has seen tremendous growth in recent years, with its products being sold in major grocery stores and restaurants across the globe. The company’s revenue for the fiscal year 2020 was $406.8 million, a 37% increase from the previous year.
Impossible Foods
Impossible Foods is another key player in the meat-alternative industry. The company was founded in 2011 and is known for its plant-based burgers and sausages. Impossible Foods has gained popularity for its realistic meat-like taste and texture, making it a favorite among consumers. The company’s revenue for the fiscal year 2020 was $700 million, a significant increase from the previous year.
Quorn
Quorn is a British-based meat-alternative company that has been in the market for several years. The company specializes in creating meat substitutes using mycoprotein, a fungus-based protein source. Quorn offers a wide range of products, including burgers, nuggets, and sausages. The company’s revenue for the fiscal year 2020 was £220 million, a 10% increase from the previous year.
Gardein
Gardein is a Canadian-based meat-alternative company that is known for its plant-based chicken, beef, and pork alternatives. The company was founded in 2003 and has gained popularity for its flavorful and versatile products. Gardein’s revenue for the fiscal year 2020 was $150 million, a 15% increase from the previous year.
Tofurky
Tofurky is a well-established meat-alternative company that has been in the market since 1980. The company offers a wide range of products, including plant-based deli slices, sausages, and burgers. Tofurky has a strong brand presence and is known for its commitment to sustainability and animal welfare. The company’s revenue for the fiscal year 2020 was $50 million, a 5% increase from the previous year.
Lightlife
Lightlife is a US-based meat-alternative company that was founded in 1979. The company offers a variety of plant-based products, including hot dogs, burgers, and sausages. Lightlife has a strong focus on using non-GMO ingredients and sustainable packaging. The company’s revenue for the fiscal year 2020 was $100 million, a 12% increase from the previous year.
Field Roast
Field Roast is a Seattle-based meat-alternative company that specializes in creating artisanal plant-based products. The company was founded in 1997 and offers a range of products, including sausages, deli slices, and roasts. Field Roast has a loyal customer base and is known for its high-quality ingredients and unique flavors. The company’s revenue for the fiscal year 2020 was $30 million, a 3% increase from the previous year.
Alpha Foods
Alpha Foods is a California-based meat-alternative company that was founded in 2015. The company offers a variety of plant-based frozen meals, including burritos, tamales, and pot pies. Alpha Foods has gained popularity for its convenient and delicious products that appeal to a wide range of consumers. The company’s revenue for the fiscal year 2020 was $20 million, a 25% increase from the previous year.
MorningStar Farms
MorningStar Farms is a subsidiary of Kellogg Company and is one of the oldest meat-alternative brands in the market. The company was founded in 1975 and offers a wide range of plant-based products, including burgers, sausages, and chicken nuggets. MorningStar Farms has a strong presence in the market and is known for its affordable and tasty products. The company’s revenue for the fiscal year 2020 was $200 million, a 8% increase from the previous year.
Good Catch
Good Catch is a relatively new player in the meat-alternative industry, having been founded in 2016. The company specializes in creating plant-based seafood alternatives, including crab cakes, fish burgers, and tuna. Good Catch has gained recognition for its innovative and sustainable products that mimic the taste and texture of real seafood. The company’s revenue for the fiscal year 2020 was $10 million, a 50% increase from the previous year.
Overall, the meat-alternative industry is experiencing significant growth as more consumers shift towards plant-based diets. The top 10 companies mentioned in this report are leading the way with their innovative products and strong market presence. It will be interesting to see how these companies continue to evolve and shape the future of the meat-alternative market.
