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   Hormel Looks To $3.7B Meat Alternative Market
by Deena Shanker, Bloomberg
Posted: Monday, October 22, 2018 at 3:46PM EDT

In yet another sign that the mass craving for meat alternatives isn’t a passing fad, natural and organic meat company Applegate Farms, a subsidiary of processed meat giant Hormel Foods Corp., is thinking about moving into the plant-based space as well.

“We’re a brand that is always looking for better solutions and how do we continue to make progress,” Applegate President John Ghingo said in an interview with Bloomberg. “We are definitely considering creating new products.”

Consumer concerns about meat and dairy—including those related to health, animal welfare and the environment—are driving a $3.7 billion plant-based market, according to recent Nielsen data. Applegate would join such Silicon Valley favorites as Beyond Meat, which has products widely available at grocery stores and some restaurants, and Impossible Foods, which recently unveiled a promotion tied to the ubiquitous White Castle slider.

To read the rest of the story, please go to: Bloomberg


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