February 25, 2020

Cargill to launch plant-based burger in April

The company will introduce plant-based burger patties and alternative ground meat products to rival Beyond Meat and Impossible Foods, reported Reuters.

Cargill's new products include soy protein or pea protein burger patties, as well as ground products that can be used for tacos, sauce for spaghetti and other dishes. The products will also be sold under retailers' private labels.

Beyond Meat products use pea protein and products from Impossible Foods are made from soy protein.

Cargill's entry into the growing alternative meat market highlights the rising consumer demand for plant-based food. Other major United States meat companies such as Tyson Foods and WH Group's Smithfield Foods have also entered the market with their own meat substitute products.

Elizabeth Gutschenritter, Cargill alternative protein team's managing director said the company is well positioned to be effective and efficient in the supply chain, as the 155-year-old company has a wealth of experience in purchasing crops and handling ingredients to create private-label products better than its competitors.

Gutschenritte said Cargill is competing against Beyond Meat and Impossible Foods on both soy-based and pea-based products.

Puris, a pea protein producer based in North America supplies to both Cargill and Beyond Meat. Since January 2018, Cargill had invested US$100 million in Puris and benefitted from the investment as pea protein supplies are scarce.

Gutschenritte added that over the last five years, Cargill had invested US$7 billion in animal protein, with alternative protein accounting for only low single digit percentages. This means that the company's alternative meat division is only a small share of its current investments.

-      Reuters