I will stay away for a few days, I need a little vacation and a break from my work.
I guess I’ll be with you again next week, but stay true to us! Mark promised me to take care of the blog during this time with a high presence.
Market researchers have predicted the plant-based food market will be worth more than $74 billion by the year 2027.
In a new report conducted by Meticulous Research, the plant-based market is expected to grow at a CAGR of 11.9 percent from 2020 for the next seven years.
Drivers for the increase include an ‘increased’ vegan population, ‘significant investments in plant-based product companies, and ‘increasing incidences of intolerance for animal protein’.
“[COVID-19] has led to some best practice models for plant-based products industry as the pandemic has conveyed to the forefront the connection between public health and animal meat consumption, which provides consumers a ground to go for a plant-based diet,” the report states.
“From a manufacturing and distributing point of view, this industry has faced unprecedented demand from manufacturers as well as consumers, particularly for some products such as meat analog and plant-based milk.
“Many companies in the space of alternative protein products have already started changing their strategies, owing to the sudden growth in demand.”
UK demand for new vegan food products soars in lockdown
Trademarks registered double in a year as supermarkets and restaurants eye fast-growing sector
The number of trademarks registered for new vegan food and drink products in the UK more than doubled to a record high last year.
Latest figures reveal that companies successfully applied for 107 trademarks in 2019 for everything from ice cream to meat-free burgers – a 128% increase on the 47 recorded in 2018 – as consumer demand for vegan alternatives continued to soar.
They were filed prior to lockdown, but supermarkets have meanwhile reported strong sales of plant-based ranges since the coronavirus outbreak began, highlighting the fragility of the traditional food chain.
The ongoing trend reflects people paying closer attention to their diet during lockdown, increasingly adopting “flexitarian” diets – cutting down on meat and dairy while eating more plant-based foods.
The new trademark figures are compiled by law firm EMW, which says the fast-growing vegan food category is now attracting interest from large multinational businesses with the resources to invest heavily in branded products.
With further innovations in the pipeline, two manufacturers – Upfield and Beyond Meat – have trademarked product names based on variations of “Beyond Butter”, “Beyond Cheese” and “Beyond Mince”. Upfield, the owner of Flora, bought the vegan cheese producer Violife for a reported €500m (£455m) earlier this year.
Daisy Divoka, an associate at EMW, said: “There are now more vegan products on supermarket shelves than ever before. Multinational corporations have identified this as a fast-growing sector and are competing to register their trademarks with the aim of capturing and defending a share of the market.”
Discount supermarket chain Lidl has trademarked a range of vegan products including pastries and baguettes, while restaurant chains Honest Burger and Leon also entered the fray for meat substitutes and plant-based condiments. The furniture chain Ikea will next month start selling “plant balls”; versions of its eponymous meatballs made from pea protein.
Sainsbury’s, which has trademarked its mushroom-based “shroomdog”, reported double-digit growth of its plant-based and meat-free range. Rosie Bambaji, plant-based buyer at Sainsbury’s said: “We expect to see this area continue to grow as we emerge out of lockdown.”
Tesco said it had launched more than 30 new plant-based products across its Wicked Kitchen and Plant Chef ranges in June, including BBQ, Asian-inspired and meal kits. Plant-based barbecue options had proved very popular during the recent hot weather, it said.
Companies can also apply to use the Vegan Society’s sunflower logo, for which they pay a licensing fee based on turnover. A spokeswoman said: “We have only recently starting reporting by category but the number of fashion products registered has doubled so far in 2020. Drinks, household and toiletry products are our next biggest growth categories.”
The coronavirus pandemic could wipe out Spanish bullfighting
The coronavirus pandemic has affected sports across the globe, and in Spain, it could wipe out the age-old sport of bullfighting altogether.
Why it matters: For years, an increasingly vocal contingent of Spaniards have been pushing for the end of what they see as “torturing animals as a form of spectacle.” Now, the economics are such that the bullfighting industry could die out regardless of the opposition.
The backdrop:As countless fights and festivals were cancelled, many breeders were forced to sell their bulls for slaughter, which only recoups about 10% of the investment required to rear a fighting bull.
With that math failing to add up — a month ago, industry losses were already estimated to be ~$800 million — bullfighting supporters have staged protests across the country to demand government subsidies.
“We want them to treat us as they would any other cultural industry,” said breeder Victorino Martín, who also heads the Fundación del Toro de Lidia, a group charged with defending the industry.
The other side: Over 160,000 people have signed a petition aiming to block any subsidies, hoping the pandemic can serve as a form of natural selection for an industry they’ve tried to squash for decades.
The big picture: Spain officially began reopening bullfighting rings over the weekend, but it remains to be seen what the long-term fallout of the past three months will be.
The industry is still furious over the government’s lack of financial support, and the restrictions in place as the country tries to responsibly reopen will make it impossible for them to meaningfully recoup what’s already been lost.
Meanwhile, those who oppose bullfighting see a unique opportunity to rid Spain of something they view as a “national shame” and a “barbaric cruelty.”
The bottom line: The centuries-old tradition of bullfighting may need to find a way to evolve with the times, or else it could meet the same fate as the nearly 10,000 bulls each year that die in the ring.