Redefine Meat, a company renowned for its 'new-meat' products, has made a significant stride by entering the European retail market. This move is in response to the growing demand for plant-based meat alternatives in the region.
Entry into the European Market
On December 1, 2023, Redefine Meat announced its entry into the European retail sector, launching its plant-based products in leading UK and Dutch e-commerce grocery stores. This expansion aligns with the observed trend of declining meat consumption in major Western economies, such as the US, UK, and Germany, indicating a shift in consumer preferences towards more sustainable and ethical food choices.
Product Portfolio and Partnerships
Redefine Meat's portfolio, which includes a range of plant-based products that mimic the taste and texture of animal meat, will be available through Ocado in the UK and Albert Heijn and Crisp in the Netherlands. The company's products, acclaimed for their high quality and plant-based nature, are free from cholesterol and GMOs, catering to consumers seeking alternatives to animal meat. Plans are in place to expand the availability of these products to other supermarkets and countries in the following year.
Consumer Trends and Market Opportunities
There has been a notable decline in meat consumption in Western countries. For instance, per capita meat consumption in the UK has decreased by 14% between 2012 and 2022, reaching its lowest level in over a decade. Similarly, Germany has reported the lowest meat consumption since it began tracking these statistics in 1989. These changes are largely attributed to a growing consumer inclination towards plant-based proteins. Nick Cooney, managing partner at Lever VC, highlights that this sustained reduction in meat consumption in some of the world's largest economies is disrupting the industry and opening significant opportunities for plant-based food brands.
Product Availability and Future Plans
Previously, Redefine Meat's products were available at 4,000 foodservice locations globally, ranging from steakhouses to hotels. With the new retail expansion, products like Redefine Beef Mince, Redefine Pulled Pork, and Redefine Lamb Kofta Mix can now be purchased online. These products maintain the taste and texture quality of their foodservice range but are packaged in consumer-friendly sizes. The company also plans to launch its award-winning whole cut range, including a flank variant, in supermarkets as part of a new chilled product range next year.
Redefine Meat's Strategy and Vision
Eshchar Ben-Shitrit, CEO and co-founder of Redefine Meat, acknowledges that product quality and versatility are major barriers to mainstream adoption of plant-based meats. He emphasizes that the company's success in the foodservice industry, coupled with its high-quality and diverse product range, positions it well to make a significant impact in the retail segment. Ben-Shitrit also highlights the importance of partnering with premium quality retailers like Ocado, Albert Heijn, and Crisp to achieve this goal. Over the next year, Redefine Meat aims to expand its product range, including launching new chilled products and extending its market reach to new countries.
In summary, Redefine Meat's entry into the European retail market is a response to the evolving dietary preferences and the increasing demand for sustainable, plant-based food options. By offering a diverse range of high-quality plant-based meats and partnering with leading retailers, Redefine Meat is poised to significantly influence the market dynamics and consumer choices in Europe's agri-food sector.
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