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-   -   The vege-bubble is turning to vege-bust (http://forum.lowcarber.org/showthread.php?t=485260)

Demi Mon, Jun-27-22 00:03

The vege-bubble is turning to vege-bust
 
Quote:
The vege-bubble is turning to vege-bust

Those who jumped on the bandwagon are about to be burnt - and sizzled and fried as well


It was healthier. It was better for the planet. And it freed up resources to be used elsewhere. Re-wind just a few years, and plant-based meats were the next big boom.

With more and more people switching to vegetarianism, and with worries about climate change dominating the headlines, lots of clever technology was pouring into different ways of making some mushed up soya beans or yellow peas into something that was virtually impossible to distinguish from a quarter-pound of ground beef or a strip of chicken.

And yet, right now all that is going into reverse. Kellogg’s is getting rid of its unit concentrating on plant-based meats. Supermarkets are clearing the shelves of alternative protein sandwiches. And the shares of some of the leaders of the sector such as Beyond Meat have crashed.

It turns out that the market is a lot smaller than some of the hype suggested.

In reality, the ‘vege-bubble’ is rapidly turning into a ‘vege-bust’ And all the big companies and investors that jumped on the bandwagon are about to be burnt — and possibly sizzled and fried as well.

At one point the hoopla around plant-based meats made the dot com bubble of the turn of the century look rational by comparison.

When Beyond Meat listed its shares in New York in 2019 they soared 160pc on the first day of trading, and carried on climbing from there, in what turned out to be the hottest IPO of that year.

Investment in ‘food tech’, as it is known among investors, reached a record $12bn in 2021 and more than half of that went into meat alternatives.

A whole series of ‘unicorns’, as start-up companies worth more than $1bn are known, emerged, such as Impossible Foods and Eat Just. Alternative seafood is just as popular: Current Food, which makes plant-based tuna and salmon, raised $18m this month. Meat alternatives was one of the hottest tech industries in the world.

It was not hard to understand why. Food, after all, is one of the biggest industries (everyone has to eat). But the types of things we want to eat are changing all the time. In the UK alone, the number of vegans quadrupled between 2014 and 2020, and far more people were cutting back on the amount of meat they eat.

Add in worries over climate change, to which meat farming is a major contributor, and health concerns as well, especially for red meats, and there was a huge space for plant-based proteins. Anyone who could offer a burger that was made of beans but still tasted the same as the one that started in a field seemed to be onto a winner.

Yet right now there are signs the tide is turning. Last week the food giant Kellogg’s said it planned to spin-off and potentially sell its MorningStar farms unit that makes alternative meats. There had been some "irrational exuberance" in the sector, CEO Steve Cahillane said on a call with investors a month earlier. Whether Kellogg’s holds onto the unit or sells it off, it doesn’t seem to be a top priority anymore.

Over in this country, it emerged last week that Morrisons and Asda had dropped their meat-free sandwiches while Tesco had reduced the number it offers by a quarter. Meanwhile, the leader of the sector Beyond Meat has seen its share price drop by 82pc in the last year, hardly a sign that investors have much faith in its future any more. In reality, the whole sector may now be in serious trouble.

What went wrong? It turns out that despite all the technology and enthusiasm the manufacturers of plant-based meats face three big problems.

First, most of the meat and fish alternatives on the market so far are relatively expensive. At Ocado, a couple of Beyond Meat burgers cost £4.50, which, while not exactly a fortune, especially if you are saving the planet, is hardly a bargain either. On a restaurant menu, the plant based meat has typically been more expensive than the animal based version. When the economy was booming, jobs were plentiful, and real wages were rising, that was not a huge problem. Now that inflation is rampant, and food inflation most of all, it is a very different story. People want to save money on their weekly shop, and switching back to traditional meat is one of easiest ways to do that.

Next, production is a lot harder than anyone imagined, especially when it needs to be scaled up for the kind of quantities that are demanded by the big supermarket and restaurant chains. The alternative meats and fish are an impressive technical achievement, and taste virtually identical to the real thing. But they are still technically very challenging. Beyond Meat has still not made a profit despite being a high profile brand, and neither have many of its rivals. That is partly because the stuff is so expensive to produce. It is hardly a long-term recipe for success.

Finally, it didn’t deliver any real benefits. Most vegetarians are perfectly happy to stop eating meat, and don’t need faux burgers to placate them. The carnivores might have tried it once or twice but quickly lost interest especially as it became more expensive. Meanwhile, there was no real evidence that plant burgers and fake chicken were healthier or had fewer calories. Apart from a vague appeal to a consumer's morality, it does not have a lot going for it.

True, there will be a market for plant-based meats. Right now, it is estimated to have a global worth of $35bn, compared with $1.5 trillion for the global meat market. It is a significant niche. But it is not much more than that, and doesn’t look like becoming one anytime soon. In reality, the stock market and Big Food keep falling for fads. But very few of them prove to be durable. The ‘vege-bubble’ has already started to burst — and it does not look as if that is about to change anytime soon.
https://www.telegraph.co.uk/busines...ning-vege-bust/

WereBear Mon, Jun-27-22 04:33

Quote:
Originally Posted by Demi
In reality, the stock market and Big Food keep falling for fads. But very few of them prove to be durable. The ‘vege-bubble’ has already started to burst — and it does not look as if that is about to change anytime soon.


I think a lot of exploitative economic activity is exactly like that. The scandal which is talking people out of their money is no longer a discrete and personal crime. It’s global-scaled.

Also, I have not looked into the nutritional profile of fake meat, but now I wonder how many carbs…



They promise the taste of meat, and apparently it fools many. But how close does it come to actually acting like meat in our bodies?

The first three ingredients are water, mung bean protein, and brown sugar. Since we know from Diet Doctor that vegetable protein should be considered actually 30% lower than animal sources, that’s 7 grams of protein, not 10. Less than the carb count, which is 8!

Slapping this junk together is cheap. Making it taste/texture like meat is the expensive part. Every step of processing has a climate change price. So I never fell for the lie that it was “good for the planet.”

But I am certain “the plan” was to scale back the expensive part and not try so expensively hard over time to keep people buying this because it will then be cheaper. And the people in no position to know or do anything about it, much like the giant difference in eggs.

The cheap eggs now have palepalepale yolks with little nutritional value, and watery whites that just don’t have the amino acids they should. DH and I remember what real eggs taste like and we pay extra to get real eggs.

Others don’t have that advantage or knowledge.

CMCM Thu, Jun-30-22 00:25

My son's girlfriend was here one night and she won't eat meat. She brought her own Beyond Meat sausages and cooked them up. They smelled utterly revolting and I wouldn't touch even a small bite. Give me the scent of a sizzling steak any day!

Kristine Thu, Jun-30-22 02:55

We have Beyond sausage patties where I work. I've tried them, and they're weird. Their creators are definitely going for the hyper-palatablilty ingredients. You can taste all the soy sauce, sugar and salt. I had a weird reaction of, "this is gross, but I can't stop eating it." I honestly could have kept plowing through a whole pile of them.

I'll stick to our normal Hormel sausages, where the ingredients are basically pork, spices, and salt... and one is sufficient.

BawdyWench Sat, Jul-02-22 06:52

"Add in worries over climate change, to which meat farming is a major contributor, and health concerns as well, especially for red meats, and there was a huge space for plant-based proteins."

No, meat farming is NOT a major contributor to climate change.

No, meat, especially red meat, is NOT a health concern.

I'm so tired of hearing otherwise intelligent people say they can't order a steak at a restaurant because they'd already had red meat one day in the past week. I have a friend who was telling me about her new air fryer from Ninja that also toasts and broils, etc. She cooked a whole chicken in it and said she knows chicken skin is "so bad for you," but it tasted so good.

It's all the processed crap that is the issue. Give me my steak and you can keep your overly processed fake food.

Dodger Sat, Jul-02-22 11:35

Quote:
Originally Posted by BawdyWench
"Add in worries over climate change, to which meat farming is a major contributor, and health concerns as well, especially for red meats, and there was a huge space for plant-based proteins."

No, meat farming is NOT a major contributor to climate change.

No, meat, especially red meat, is NOT a health concern.

I'm so tired of hearing otherwise intelligent people say they can't order a steak at a restaurant because they'd already had red meat one day in the past week. I have a friend who was telling me about her new air fryer from Ninja that also toasts and broils, etc. She cooked a whole chicken in it and said she knows chicken skin is "so bad for you," but it tasted so good.

It's all the processed crap that is the issue. Give me my steak and you can keep your overly processed fake food.
AMEN! I love all the healthy fats that come naturally with meats.

Demi Sun, Jul-03-22 00:40

More of the same ...

Quote:
Vegan burger joint loses bun fight as diners beg for beef

Honest Burgers is among several chains shutting meat-free restaurants — a sign that the plant-based revolution is tailing off


When Honest Burgers opened its first entirely vegan restaurant [in London] in January, it was ready to serve the nation’s new wave of plant-food obsessives.

Except they didn’t come — or not enough of them. Every day, “dozens” of people would arrive at V Honest and try to order a chicken or beefburger.

Just six months after opening, the restaurant, near Leicester Square in central London will revert to selling meat after Honest Burgers’ co-founder, Tom Barton, concluded there was simply not enough demand. He said the hype around plant-based diets, fuelled by social media, had not translated into sales.

It is one of several restaurant chains to scale back its plant-based plans. Burger King recently ended a month-long trial for a vegan restaurant in Leicester Square and has no plans to revive it. The US vegan fast food chain By Chloe closed its four UK restaurants last year, shortly after it was bought out of bankruptcy. Pret a Manger bought rival sandwich chain Eat in 2019 and pledged to turn “as many as possible” of the 94 shops it acquired into Veggie Prets. It later closed the Eat shops, citing the pandemic, and there are still only ten Veggie Prets in the UK, six years after the first opened.

Neat Burger, a vegan restaurant chain whose investors include Formula One driver Sir Lewis Hamilton — a vegan whose bulldog, Roscoe, is said to enjoy a plant-based diet — said it planned to open 19 new sites across London by the end of this year on top of the five it already owned. So far it has opened two more and plans to open another this year. It insisted it was still seeing “strong demand”.

Barton, 36, whose chain has almost 50 restaurants around Britain, said: “We had dozens of people every single day asking for beef burgers and chicken. Ultimately, it didn’t make business sense for us.

“I think people’s food beliefs are one of those things that people are very vocal and passionate about on social media and can potentially paint a bigger picture [of veganism] than is actually realistic.

“There have been some spectacular failures in this space. By Chloe was a big, profitable business and full of young Instagrammers with chihuahuas enjoying the food, but that business folded as well, so it’s a difficult space to make work.

“We gave it a go . . . but, sadly, as a concept, it doesn’t make commercial sense for us. I know other businesses had the same trouble. I think everyone’s feeling it’s just not quite converting as well as it needs to in order to be a viable business.”

Barton said many people were not prepared to pay more for vegan options, which apparently cost more to produce. Honest Burgers’ vegan “beef” burgers, “chicken” burgers and chilli burgers are 75p more expensive than the meat alternatives, for example, at £13.75.

He said: “Vegan food is coming in at a higher price than its counterparts, which, for people who don’t understand the amount of ingredients and process that goes into these foods . . . sounds completely bonkers.

“To turn plants into burgers there is a lot of development. Vegan mayonnaise, cheese, ‘meat’ grains, they are all more expensive than the animal-based counterparts because there’s a lot more process that goes into them.”

Fewer than 2 per cent of UK adults say they follow a vegan diet compared with 11 per cent who do not eat meat, according to the market researchers Mintel.

Richard Caines, a senior food and drink analyst at the consumer research firm, said: “If you run a restaurant that is completely vegan or plant-based, your target market is small and maybe a bit out of sync with the consumer context.”

Instead, many restaurants and supermarkets are focusing on catering to flexitarians. Despite ending its trial of a vegan-only restaurant, Burger King has pledged half its menu will be meat-free by 2030 in an attempt to reduce its carbon emissions. It said it had planned no other “meat-free takeovers” but had not ruled out a permanent meat-free restaurant in the future.

A spokeswoman added: “We had queues around the block on the opening day, and we even had a selection of popular items, such as the plant-based Cheeezeburger and plant-based Bakon Double Cheeeze XL, sell out.”

Analysis suggests faux-meat fatigue may be setting in. The UK retail value of meat substitutes, which includes supermarket sales, is estimated to have risen 9 per cent, from £551 million to £598 million in 2021, a slower rate of growth than the 34 per cent increase of a year earlier.

Almost half (47 per cent) of people say that replacing meat with vegetables and pulses is more appealing than using meat substitutes, Mintel said. One restaurateur said the “halo effect” — where meat alternatives were seen as better for health and the environment — was waning.

https://www.thetimes.co.uk/article/...-beef-x7kqj30wb


WereBear Sun, Jul-03-22 07:14

Quote:
Originally Posted by Kristine
We have Beyond sausage patties where I work. I've tried them, and they're weird. Their creators are definitely going for the hyper-palatablilty ingredients. You can taste all the soy sauce, sugar and salt. I had a weird reaction of, "this is gross, but I can't stop eating it." I honestly could have kept plowing through a whole pile of them.


After all, same ingredients as other bags of snack food.

Quote:
Analysis suggests faux-meat fatigue may be setting in.


The more I eat real food, the better it tastes.

GRB5111 Sun, Jul-03-22 09:28

Quote:
Originally Posted by BawdyWench
"Add in worries over climate change, to which meat farming is a major contributor, and health concerns as well, especially for red meats, and there was a huge space for plant-based proteins."

No, meat farming is NOT a major contributor to climate change.

No, meat, especially red meat, is NOT a health concern.

I'm so tired of hearing otherwise intelligent people say they can't order a steak at a restaurant because they'd already had red meat one day in the past week. I have a friend who was telling me about her new air fryer from Ninja that also toasts and broils, etc. She cooked a whole chicken in it and said she knows chicken skin is "so bad for you," but it tasted so good.

It's all the processed crap that is the issue. Give me my steak and you can keep your overly processed fake food.

Bravo, well stated.

WereBear Mon, Jul-04-22 06:53

This morning I laughed for a while, just remembering the whole vegetarian push was helped along by Kelloggs and other Seventh Day Adventists. To destroy the libido.

But I don't think that would be a popular Youtube channel. :lol:

Demi Mon, Jul-04-22 07:42

Talking of Kelloggs:

Quote:
Milk does not make cereal healthier, High Court rules

Judges rule against Kellogg's after it took the (UK) Government to court over plans to tackle childhood obesity


Putting milk on your cereal does not make it healthier, judges have ruled after Kellogg's took the Government to court over its plans to tackle obesity.

The maker of Crunchy Nut corn flakes argued that the sugar content of its cereals should be measured after milk is added and brought a High Court case in April.

A High Court judge has now ruled against Kellogg’s claims that the regulations were unlawful and that they failed to take into account the nutritional value of the milk added to the product.

The ruling means some cereals may no longer be prominently displayed on supermarket shelves if they have a high sugar content.

Chris Silcock, the UK managing director, said the cereal firm was "disappointed" with the decision, but it would not appeal.

A ban on ‘buy-one-get-one-free’ or three-for-two offers on unhealthy food and drinks will be introduced in October 2023.

Mr Silcock added: “It makes little sense to us that consumers will be able to buy other products, like donuts and chocolate spreads, on promotion – but not many types of breakfast cereals.

“By restricting the placement of items in supermarkets, people face less choice and potentially higher prices.

“That’s why, in the midst of a cost-of-living crisis, we would strongly urge the Government to rethink these regulations and put the consumer first.”

Kellogg's previously said that independent market data showed cereals are eaten with milk or yoghurt in 92pc of cases, therefore reducing the sugar or salt content.

But Department of Health officials believe that adding milk to cereal does not remove the sugar from the cereal or make it more healthy compared with other cereal.

The company said it supports the Government’s work to tackle obesity and help people live healthier lives.

It said it has removed 11,000 tonnes of sugar since 2011 from its products and taken 60pc of salt out since the 1990s.

The manufacturer's barrister Tom Hickman QC said: "It is self-evident that breakfast cereals are not eaten dry. They are not designed to be eaten in that way, they are not marketed to be eaten in that way and they are not in practice eaten that way."

But in a judgment on Monday, Mr Justice Linden dismissed the claim, finding the issue of how cereals are consumed and should be measured had been considered and resolved in consultations.

"In my judgment, the true position is that the fact that, in their detailed responses, none of the breakfast cereal manufacturers raised the issue during the consultation period of more than a year tends to support the view that the 'as sold versus as consumed' issue had long since been resolved, was well understood and was accepted in the sector," he ruled.

Mr Justice Linden said there is "no dispute" that breakfast cereals can be part of a healthy diet.

He continued: "But the argument that there are nutritional benefits to the consumption of a given breakfast cereal does not affect the point that if it contains excess fat, sugar or salt, that feature of the product is adverse to a child's health.

"Still less is it an argument against seeking to encourage, for health-related reasons, the promotion and consumption of breakfast cereals which contain less fat, sugar or salt.

"Nor does mixing a breakfast cereal which is high in, for example, sugar, with milk alter the fact that it is high in sugar."

During the hearing, the judge was told that 100g of Frosties contains 37g of sugar.

"The suggestion that Frosties should not be regarded as a less healthy product because of the nutritional value of the milk with which they may be consumed is surprising," Mr Justice Linden wrote.

Kellogg's UK's revenue and channel director previously estimated that 2.5 million kilogrammes of sales will be lost as a result of restrictions on these location promotions - counting for approximately £5 million in annual profits, the judge said.

A Department of Health and Social Care spokesman said: "We strongly welcome today's judgment. The Government is committed to tackling obesity, which is the second biggest cause of cancer in the UK and costs the NHS billions of pounds a year.

"The judgment backs the Government's approach to restricting the promotion of less healthy breakfast cereals, which contribute a significant amount of sugar to children's diets.

"Location promotion restrictions will come into force in October 2022 and are expected to deliver over £57 billion of health benefits.

"Together with the volume price restrictions, these changes will protect children up and down the country from products high in saturated fat, sugar or salt."

https://www.telegraph.co.uk/busines...gh-court-rules/


Bob-a-rama Mon, Jul-04-22 19:11

Quote:
Originally Posted by BawdyWench
"Add in worries over climate change, to which meat farming is a major contributor, and health concerns as well, especially for red meats, and there was a huge space for plant-based proteins."

No, meat farming is NOT a major contributor to climate change.

No, meat, especially red meat, is NOT a health concern.

I'm so tired of hearing otherwise intelligent people say they can't order a steak at a restaurant because they'd already had red meat one day in the past week. I have a friend who was telling me about her new air fryer from Ninja that also toasts and broils, etc. She cooked a whole chicken in it and said she knows chicken skin is "so bad for you," but it tasted so good.

It's all the processed crap that is the issue. Give me my steak and you can keep your overly processed fake food.

The cow fart/methane propaganda is pure Bull S___.

People tend to equate methane with cow farts (though their burps are worse), but we may be pointing our fingers in all the wrong places, according to a new study. The production of ammonia for fertilizer may result in up to 100 times more emissions than has been previously estimated for this sector. And that alone is more than what the Environmental Protection Agency estimates all industries emit across the U.S.

https://gizmodo.com/just-one-tiny-i...pa-h-1835376030


Plus grasslands and cows feed each other. They cows eat the grass and the cows fertilize the grass. There is no need to add anything that mother nature doesn't provide.

Farm that same land and you will need copious amounts of water, fertilizer, herbicide, and pesticide.

All this propaganda about meat harming the environment is pure propaganda by corporate soy/corn companies looking to improve their quarterly profits.

Remember, when the Europeans got to North America, there were trillions of bisons on the grasslands. More than anyone could count or even estimate. They didn't need extra water, fertilizer, herbicides, or pesticides and they didn't turn the atmosphere into a greenhouse with their burps and farts.

When you are confronted with the big lie, please help spread the real truth. Cows on grasslands are much better for the environment than corn or soybeans.

Bob

teaser Mon, Aug-01-22 09:38

https://www.sciencedaily.com/releas...20729173204.htm

Quote:
Plant-based 'meat' 'healthier and more sustainable than animal products


Just posting because I found this part funny;
Quote:
Despite the incredible advances that plant-based producers have made over recent years, there is still huge potential to improve their taste, texture and how they cook. There's also enormous potential to innovate with ingredients and processes to improve their nutritional properties -- for example by boosting vitamin content.


Imagine what they could do with something that actually tastes good to begin with.

WereBear Tue, Aug-02-22 04:21

I find the whole vegan thing fascinating, since I sympathize with the humanitarian goals.

But I get angry because they can live in a fantasy world where our domestic cats and dogs "go vegan" with us and we all live happily ever after but there not a single fact in favor of this ever actually happening.

Humane animal husbandry is the answer. But the vegans never go there.

GRB5111 Tue, Aug-02-22 08:32

Just what we need at this stage, hyper-palatable processed foods that taste like meat.

"It turns out that the market is a lot smaller than some of the hype suggested."

I'd rephrase this statement:
It turns out that the market is a lot SMARTER than some of the hype suggested.


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