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THE 2021 STATE of MEAT in FOODSERVICE the 2021 State of Meat in Foodservice

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THE 2021 STATE of MEAT in FOODSERVICE the 2021 State of Meat in Foodservice THE 2021 STATE OF MEAT IN FOODSERVICE The 2021 State of Meat in FoodService THE RISE OF PLANTS AND THE POWER OF IMPOSSIBLE™ PRODUCTS The meat industry is rapidly changing KEY TAKEAWAYS in response to consumer demand for options that are better for their • CONSUMERS ARE ACTIVELY REDUCING health and the planet. This report ANIMAL MEAT CONSUMPTION summarizes the current state of the Across the United States, non-animal meat products meat industry, and highlights the continue to grow in popularity among meat eaters who are trying to reduce their meat consumption for health key differences between what con- and environmental reasons. On the national level, 40% sumers consider “plant-based meat” of US adults are actively reducing meat consumption, and 39% are considering it,1 illustrating that consumers and Impossible™ products. It also are changing habits and plant-based meat consumption includes key insights for restaurant is not a trend—it is here to stay. operators looking to stay relevant and • WHEN CHOOSING ANIMAL-MEAT competitive in the face of changing ALTERNATIVES, TASTE IS PARAMOUNT consumer preferences. Taste remains the top barrier to trial and repeat purchase for plant-based meat products, so choosing a product that satisfies meat cravings is crucial. Many products on the market today do not deliver meat flavor or texture, which are the qualities that set Impossible products apart from the rest. Among a sample of restaurant operators, 89% rank Impossible Foods in the top three brands they believe to be best in class, with the majority ranking it at the very top.2 • ADDING IMPOSSIBLE PRODUCTS TO YOUR MENU DRIVES PROFITS Consumers are motivated and excited to eat at restau- rants that offer Impossible products. In a survey of customers who visited restaurants serving Impossible™ items in 2020, 52% said they decided to order Impossible products before even going to the restaurant.3 In fact, some restaurants selling Impossible™ Burger have reported up to a 36% month over month increase in same-store sales after adding it to the menu.4 1 YouGov Profiles, Dec 2020 2 August 2020, Impossible Operator Tracker. 3 2020, In the Wild Field Study, MFour 4 Earnest Research. “Burger King Bets on the Impossible.” Medium, Earnest Research, 30 Oct. 2019, www.medium.com/earnest-research/burger-king-bets-on-the-impossible-d9bc86c0bff4 The 2021 State of Meat in FoodService DEMAND FOR MEAT ALTERNATIVES IS ON THE RISE The alternative meat marketplace is booming. UBS fore- casts the U.S. market for plant-based meat to reach ~$15 billion by 2025—up from $1 billion in 20185—with 38% of adults already eating plant-based meat at least once a month (50% for adults below age 35).6 In an analysis of over 1,000,000 menu items, plant-based burgers are among the top ten fastest growing, expanding 362% in the past four years,7 and in retail, plant-based meat sales have risen +94% on average, outpacing animal-based meat.8 On menus and shelves across the United States, con- sumers can choose from myriad products that market themselves as tasting like meat from animals. But not all animal-free meat products are created equal. WHY DO PEOPLE CHOOSE IMPOSSIBLE PRODUCTS? #1: TASTE Meat eaters looking for satisfying alternatives to meat from Uncertainty around taste is the main consumer barrier to animals choose Impossible™ Sausage Made From Plants ordering a menu item with non-animal meat. So restaurant and Impossible Burger. Among foodservice operators operators who want to offer a satisfying replacement for aware of Impossible Foods, 89% rank it in the top three meat eaters must put taste first. Plant-based meat is no brands they believe to be best in class, with the major- longer synonymous with frozen veggie burgers. And it’s ity ranking it at the very top.9 In a survey of guests who true that even as the industry has evolved, most products visited restaurants serving Impossible products in 2020: that call themselves plant-based meat do not have the “real” flavor or texture of meat from animals. That’s where Impossible Burger is unique—it’s meat made from plants that cooks and tastes like ground 58% beef from cows.11 In fact, some prominent TV personal- ities can’t tell the difference between Impossible Burger said their and ground beef from cows, and a beef lobbyist called it 92% perception of said they the restaurant the “real deal” and a “wake-up call” for the livestock sector. were extremely increased after satisfied by 84% seeing an The message is clear: Impossible Burger is the clear the taste of who ordered Impossible™ item alternative that will keep meat lovers coming back Impossible™ Impossible on the menu10 for more. meat Burger said they were likely to order it again 5 “Future of Food I: Is Plant-Based Meat Poised to Rebalance Global Protein Consumption?” Investment Bank, www.ubs.com/global/en/investment-bank/in-focus/2019/future-of-food.html 6 2019 Generation IF Report, Harmon Atchison 7 Datassential MenuTrends 8 Total US MULO, Latest 26 weeks ending 1/24/21, IRI custom research 9 IF Operator Tracker 10 2020 In the Wild Field Study, MFour 11 IF Jan. 2020 IHUT, In a home usage study, 70% of 254 US consumers who cooked with Impossible™ Burger thought the taste was comparable to or better than ground beef from cows The 2021 State of Meat in FoodService #3: CURIOSITY AND EXCITEMENT The cultural relevance of Impossible Burger drives purchase, especially among consumers age 35 and under. The Impossible Burger has been referenced in iconic television shows like SNL and The Daily Show. Celebrities and athletes have come out in big numbers to support the brand, and more sustainable eating choices in general. Jay Z, will.i.am and Serena Williams are among the celebrity investors in Impossible Foods. Katy Perry wore an Impossible Burger “dress” to the Met Gala in 2019. “ A plant-based diet is healthier for me and the environment.I invested in Impossible Foods to provide plant-based options for people that may not have ever had those choices due to #2: HEALTH AND SUSTAINABILITY cost and availability. I also don’t have to sacrifice the taste and flavors I enjoy. My entire family Health is a top factor in consumer decision-making. can’t get enough.” Increasingly, customers are trying to replace red meat with other satisfying and satiating options, like Impossible — Serena Williams products. Over 90% of Impossible Foods consumers identify as meat-eaters and are actively looking for ways Gen Z and Millennials love the Impossible Burger and to incorporate healthier alternatives into their diets.12 On Impossible Sausage Made From Plants, and are actively the national level, 40% of U.S. adults say they are actively seeking them out. While 18–34-year olds make up 30% reducing meat consumption and an additional 39% say of the total US general population, 45% of Impossible they are considering it.13 eaters fall between the ages of 18 and 34.17 For opera- tors, especially those with aging demographics, offering Sustainability also continues to rise as a purchase motiva- Impossible products is an opportunity to have the most tor. When asked why they chose Impossible Burger inclusive menu for existing customers, drawing in their over beef from cows, 22% of consumers said “because children and grandchildren for multigenerational dining it’s environmentally friendly.”14 When Impossible Foods experiences. launched the Impossible Burger in 2016, concern for the environment wasn’t even in the top ten reasons for purchase—now it’s No. 3.15 Consumers who choose to eat plant-based foods more often rank the fact that it’s “better for the environment” in their top five motivations. According to a June 2020 poll of U.S. adults by Mattson, 65% of people said they choose to eat plant-based foods more often because of the “general health benefits” and 48% said they chose it because it’s “better for the environment.” While health benefits are a top motivation for choosing plant-based foods, Mattson president and chief innovation officer Barb Stuckey said MILLENNIAL Born: 1980–1994 the motivation is shifting: “more people [are] choosing GEN Z toeat plant-based foods…because they think it’s better Age: 25–39 years for the environment—a major change in just two years— Born: 1995–2001 especially among younger consumers,whereas for older Age: 18–24 years consumers it’s more about health.”16 12 January 2021 Impossible Foods Brand Tracker 13 Sep. 2020, YouGov Profiles 14 2020, In the Wild Field Study, MFour 15 Impossible Foods Impact Report 2019 16 Watson, Elaine. “SHIFT20: How Are Consumers Thinking about Plant-Based Eating? Mattson Unveils New Survey Data.” Foodnavigator, William Reed Business Media Ltd., 14 July 2020, www.foodnavigator-usa.com/Article/2020/07/14/SHIFT20-How-are-consumers-thinking-about-plant-based-eating-Mattson-unveils-new-survey-data 17 Sep. 2020, Impossible Foods Brand Tracker The 2021 State of Meat in FoodService WHO IS SELLING IMPOSSIBLE PRODUCTS? The availability of alternative meat is expanding rapidly across the United States, and it’s now easy to find in over 100,000 retail stores, national chains, corner cafes, and local spots like your favorite neighborhood pizza joint. Restaurant operators and retailers have an increasingly good reason to offer animal-meat alternatives—especially Impossible products—because they are a proven busi- ness driver, with restaurants who sell Impossible products reporting up to a 36% MoM increase in same-store sales after adding Impossible™ Burger to the menu.18 Adding Impossible products to the menu also increases brand perception, traffic, and repeat sales with customers who purchased Impossible Burger at restau- rants reporting:19 70% of those who purchased an Impossible product in the past six months have come back to purchase again Sales of plant-based meat in grocery stores are also experiencing massive growth.
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