The global meat and dairy sector is currently going through an unprecedented level of competition and disruption from the growth of viable plant-based alternatives across many categories. Gone are the days where plant-based alternative products were for the niche consumer and warranted limited shelf space.
Greater awareness of environmental and ethical impacts of producing and consuming meat & dairy based products, and an increase in healthy lifestyle choices have driven changes in consumer behaviour.
New product development - Plant-based alternatives are gaining an increased amount of shelf space in supermarkets. There is also significant media attention on new releases.
Many companies are revising their strategy to ensure that they remain competitive in the changing market. This can include either new product development and/or the acquisition of existing plant-based alternative producers.