Floor Buitelaar on LinkedIn: #retailsafari #retailinnovation #consumerinsights #altprotein | 15 comments (2024)

Conference wrap-up: developments in the alt protein industryHaving attended leading industry events with many engaging conversations and panels over the last few weeks, it's clear that the alternative protein industry is facing significant challenges. Typically, the day after a conference, you can find me overthinking the industry value chain and exploring ways to accelerate this transition to a sustainable food system (as I did yesterday in Chicago at the River).Despite the challenges, there are promising developments already in motion that will advance the category directly and indirectly, without relying on highly complex or capital-intensive solutions. The following developments offer a positive outlook: 1. Retail Margin Drops in EuropeThe decrease in plant-based product margins in Europe is paving the way for price parity with animal products. This is crucial for making plant-based options more affordable and attractive to the average consumer. Uptake in the category has already been shown by Lidl Germany and Billa.2. Corporate Dedication to the CategoryOver the past 5 years we’ve seen leading corporates enter the sector. I’m glad to see that many corporations remain committed to the category with a long-term vision. This dedication is driving innovation, investments in marketing, and efforts to commoditize the category, ultimately reducing costs. If we want to rapidly change the food system, we should change it from within.3. CSRD in EuropeCSRD is pushing companies towards greater transparency and accountability in their sustainability efforts. This regulatory framework will drive more sustainable practices and innovations, positively impacting alternative protein solutions. Read more about the impact of CSRD in our latest insights piece (link in comments).4. Hybrids Products (Animal + Plants)The interest in hybrid products is experiencing a lift with low inclusion rates of e.g. mushroom or plant protein blend (without communicating). Imagine we reduce total meat volume by 5% due to hybrids, while nutritional value slightly improves, price remains as is, and consumers gradually accustom to alternative meat experiences similar to transitions in reducing sugar and salt in recipes.5. Ingredient Swaps by Large CorporatesCorporates are swapping out animal-based ingredients like eggs and dairy for more sustainable, non-animal alternatives in their recipes: positively impacting sustainability and not impacting taste and price for consumers. This B2Bization of the sector results in no need for communicating to consumers resulting in ‘silent impact’.While the road ahead will remain challenging, as with every transition, these positive trends offer opportunities for short-term growth and development, aside from mid to longterm tech solutions and dietary changes of consumers.Curious to hear other learnings that accelerate the transition to a sustainable food system.

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The Bridge2Food main stage turned Bright Green last week :)Pleasure to present our BGP view and assessment framework on untapped opportunities in alternative proteins, with a deep dive on cultivated fat.For those that couldn’t attend, there are numerous untapped opportunities in alternative proteins because of:1. The nascent stages of industry development2. The growing necessity for sustainable protein solutions to address our critical food system challengesChoosing the right 'untapped opportunity' involves a multifaceted analysis based on commercial viability, strategic positioning, and technical capabilities. Our BGP strategy advisory team excels in guiding clients through these complex decisions.Highlight of the summit was the dinner at the beach where we got treated to plant-based foods and a beautiful sunset. Thank you for the invitation and well-organized summit bridge2food team!

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Conference season has definitely started, with this week Bridge2Food in the Hague! Join me during my session on Thursday 12.30h to learn about untapped opportunities in the alternative protein market.The session will highlight market opportunities across the plant-based, fermentation, cellular agriculture and molecular farming value chains. It will outline critical consumer needs yet to be met and share our Bright Green Partners opportunity assessment framework to define various untapped opportunities across the alternative protein sector, combined with a case study diving into a detailed alternative protein market opportunity. Hope to see you there!

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These weeks are filled with lots of travels. Went from Wageningen 🇳🇱 for to Frankfurt 🇩🇪. This week I’m in Warsaw 🇵🇱 for Food Tech Congress and in Berlin 🇩🇪. Next week in The Hague 🇳🇱 for Bridge2Food and in a few weeks time heading to Chicago 🇺🇸 for Future Food-Tech. Exciting weeks! Looking forward to many in person meetings with our corporate and investor clients, BGP experts, ecosystem supporters and new contacts to jointly accelerate the transition to a sustainable food system!#altproteins Bright Green Partners

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Want to stay closely connected to our insights and work at Bright Green Partners? Sign up to our newsletter and be the first to hear about our updates.In our latest edition, you read about our upcoming conferences, a commercial due diligence case and our latest insights.Sign up for the newsletter via: https://lnkd.in/dpSRRfMt

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Excited to be part of the advisory board of The Future of Protein Production Summit in Amsterdam. We will share our Bright Green Partners views to help create an agenda that covers all the important issues for our industry. I'm sure it will be a highly insightful conference with an advisory board of names listing Ira van Eelen, Robert E. Jones of Mosa Meat, Hannah Lester from ATOVA, The Good Food Institute, Sonalie Figueiras from Green Queen Media and many more....More details about the conference: https://lnkd.in/dgBuYKgA

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Reflections from My Business Trip to Tokyo: Insights into the Alt-Protein Landscape and Consumer Behaviors:I just returned from an exciting business trip to Tokyo, where I had the opportunity to delve into Japan's corporate perspective on the alternative protein market and observe the consumption patterns in one of Asia’s largest metropolises. 🏢Corporate Commitment vs. 🛍 Consumer AwarenessOne striking insight from my visit was the noticeable gap between corporate action and consumer awareness regarding alternative proteins. Japanese corporations are markedly ahead, driven by a recognition of significant sustainability challenges within the food system. This awareness is motivated by intrinsic factors and external pressures from shareholders and food security challenges from a heavy aging population. 🏪 The Daily Consumer LandscapeIn Tokyo, like many large Asian cities, most people consume food outside their homes throughout the day. This includes convenience stores, takeaway outlets, quick service restaurants (beyond just traditional fast-food chains), numerous coffee and drink chains, and restaurants for more extended dining experiences.🍜 Alt-Protein Options in TokyoWhile alternative protein options are gradually making their way into the market, their presence is still minimal. For example:- Starbucks has introduced oat, soy, and almond milk alternatives, charging an extra €0.30. These options are clearly indicated by stickers and receipts to ensure correct fulfillment.- Convenience Stores offer a smattering of vegan choices such as onigiri, salads, noodles, and wraps, along with some iced coffees with alternative milk. Yet, generally these products offer little alt dairy, egg and meat products and thus are low in protein content.- (Quick Service) Restaurants generally have very limited vegan offerings, if any, except for extremely limited vegan (friendly) restaurants with e.g. vegan ramen. Implications and Opportunities> This trip has reinforced the notion that while Japan's corporates are poised to address sustainability through innovations like alternative proteins, there is a profound need for consumer education and engagement strategies to bring consumers on board with these alternatives.> The Japanese government should have an interest in alternative protein increase due to the aging population impacting farming practices, overfishing challenges and therefore becoming gradually more reliant on import, if no measures are taken.
> Japanese consumers are very interested in health solutions (think e.g,. the huge interest in functional drinks). Healthy alt protein options could therefore be an edge to attract consumers to the category.

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Excited to announce that I will speak on behalf of Bright Green Partners at Bridge2Food Europe 2024. Join me to dive into the world of 'untapped areas and opportunities in alternative proteins' and many other topics from fellow speakers on June 4-6 in The Hague, The Netherlands. Hope to see you there!Register: https://bit.ly/3QpWDmd

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Hello Tokyo!🗼🇯🇵 I'm here for a week of alternative protein discussions and opportunities for Japanese leaders in the ecosystem.Already had a kickstart into the week while meeting Ugo Bataillard 🔨 over a coffee, lunch with Megumi Avigail Yosh*tomi from Japan Association for Cellular Agriculture (JACA) 細胞農業研究機構 and exploring available alt protein options such as ramen with vegan char-siu 🍜 and strong coffees with alt milk 🥛 to overcome the jetlag. The rest of the week is filled with meetings with Japanese corporates and a meeting at the Dutch embassy.👀 Keep an eye out for my reflection post in a week from now.

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