Shifting Trends See Global Food Giants Ramp Up Their Plant-based Offerings - Seite 2

"Today marks a major milestone for Else," Else Nutrition CEO and Co-Founder Hamutal Yitzhak said of the Sprouts Farmers market launch in the company's February 8 release. "Having our product available on shelves at this national retailer is a key step in our mission of bringing whole, clean, sustainable nutrition alternatives for children everywhere."

On February 4, Else announced its latest all plant-based product. Continuing the company's focus so far on infant and child nutrition, Else is launching a new Plant-Powered Complete Nutrition for Kids products after completing a successful trial run. The latest addition to Else's lineup is a clean label, organic, plant-based nutrition shake packed with the protein, carbs, healthy fats, and 20 essential nutrients with 50% less sugar than leading brands.

Global Food Giants Step Further into Plant-Based Space

PepsiCo (NASDAQ:PEP) announced in late January that the company is forming a joint venture with Beyond Meat to develop plant-based drinks and snacks. The venture will give Pepsi access to the leading plant-based meat brand in the world, while Beyond gets access to Pepsi's distribution and production infrastructure. More information on what kinds of snack products the two companies will create together is forthcoming.

In November, meat industry giant Tyson Foods, Inc. (NYSE:TSN) announced that the company would step further into the plant-based space by retooling its Raised and Rooted brand of plant-based and hybrid foods. The company plans to eliminate its hybrid offerings that combined meat-based and plant-based proteins and focus the Raised and Rooted brand on fully plant-based meat alternatives instead.

Starbucks Corporation (NASDAQ:SBUX) is also expanding its plant-based offerings. In January, the company introduced its Original Nut Blend non-dairy milk alternative in the European markets. In addition, the company will be adding a range of plant-based food options, including breakfast sandwiches made with Beyond Meat's plant-based sausage.

Yum! Brands, Inc. (NYSE:YUM) has moved further into the plant-based space as well. The company has already added plant-based options to Pizza Hut menus and in January announced the test launch of Taco Bell's first plant-based menu item in partnership with Beyond Meat.

The growing interest in and adoption of plant-based foods from major retailers, restaurant brands, and food producers is a clear indication that the plant-based market segment is here to stay. Meanwhile, plant-based food companies like Else Nutrition are advancing the future of the industry.