Food titans Tyson, Kellogg and Kroger tear up fake meat and compete with Beyond Meat and Impossible Foods

Beyond Meat and Impossible Foods put plant-based food on the map by making meatless carbs that "bleed." But now traditional food giants Hormel, Kellogg's, Kroger, Smithfield, Tyson and others are jumping into realistic alternative proteins, announcing news of new products and investments they have made to take a slice of the market.

Their forums are probably promoting fake meat in the mainstream. Beyond Meat shattered analysts' expectations earlier this year when the stock price rose 160% in its public debut from the $ 25 per share offer price ̵[ads1]1; despite the startup which never made a profit .

Part of the lid is the rapid growth of the alternative protein market. Faux meat is estimated to reach 10% of the $ 1.4 trillion global meat market in the next decade, according to Barclays analysts. Even big fast-food chains want to participate, and Burger King partnered with Impossible Foods last month to debut a limited nationwide launch of meat-free Whoppers.

"Once you have the world's largest meat companies reconstituted as protein companies and launched plant-based meat products, this is a transitional period and is a huge blessing for the whole plant-based meat market, "said Bruce Friedrich, CEO of the Good Food Institute, which speaks for the plant-based food industry. Its conference this week drew leaders and representatives from several food giants, including Kroger, Perdue and Tyson.

Here's an overview of who's buying who – and what products will soon be available in stores:

Tyson: More than chicken, it's a "protein company" now

Tyson on Thursday said it's Invest in New Wave Foods, an alternative seafood startup that makes chunky shrimp from seaweed and plant protein. It is not the first attempt at alternative proteins for the country's largest meat producer, which wants to redefine itself as a "protein company" to accommodate customers who are increasingly seeking meat alternatives.

New Wave Foods is the first plant-based seafood company Tyson adds to its growing portfolio of alternative protein companies, which includes mushroom-based protein producer MycoTechnology. It also drops the teeth of laboratory-grown meat, which is under development at "clean meat" starters Memphis Meats and Future Meat Technologies. (However, lab-grown meat is not yet available for commercial consumption until proven to be safe to eat.)

In June, Tyson announced a line of plant-based nuggets and mixed burgers made with beef and plants as part of the new brand "Raised & Rooting", which contains pea protein isolate. Both Beyond Meat and alternative milk company Ripple rely on pea protein as a key ingredient that is also gaining in popularity with consumers who want to avoid soy as an allergen.

Tyson previously owned a 6.5% stake in Beyond Meat, but sold it before the alternative meat launch went public earlier this year. Beyond Meat shares are currently trading 560% higher than the original offer price of $ 25 per share.

Hormel: Yes, the manufacturer of Spam is now in fake meat

Hormel Foods, perhaps best known for making spam, on Wednesday debuted its plant-based and mixed protein brand Happy Little Plants. The first product is a soy-based alternative meat dough alternative that is being distributed this week in select outlets.

Minnesota-based Hormel has already developed a couple of plant-based items, including a meat-free burger in 2014. It also has a mixed Applegate brand burger that combines organic meat with organic mushrooms, and a series of plant-based pizza topping items produced at Burke subsidiary.

Kroger: Plant-based protein goes to private label

Kroger, the country's largest supermarket chain, said Thursday that it will launch a new plant-based product line this fall under its Simple Truth brand. The new offerings will include meatless burger cakes, as well as plant-based cookie dough, pasta sauces, deli slices, falls and other items.

The Cincinnati, Ohio-based retailer, which has more than 2,700 locations, said new products under the plant-based banner will be available in stores each month this fall through 2020. A Kroger spokeswoman also confirmed that the plant-based products will be in stock in supermarkets next to their animal and dairy products. This corresponds to Beyond Meat's strategy to gain a place in meat cases with the hope of winning over meat lovers.

Spokespeople from the plant-based food industry say that plant-based proteins can mirror the path to the organic market. For example, shoppers browsing cheeses can increasingly choose between varieties that meet their dietary needs and find cheeses that are organic or vegan made side by side with traditional milk-produced cheese.

Kellogg: They call it "Incogmeato"

MorningStar Farms, owned by Michigan-based Kellogg's, has long reigned in the freezer section with traditional veggie caramels serving vegetarians and vegans. On Wednesday, the company said it will launch a new line of realistic alternatives next year under the punny brand "Incogmeato."

The new products will directly compete with Impossible Foods and Beyond Meat, which supported the meatless industry by making products such as "bleed" as real meat.

"It grills like meat. It bleeds like meat. It tastes like meat, and we're very happy," Kellogg's CEO Steve Cahillane told an audience at this week's Barclays Global Consumer Staples Conference in Boston. "We think we have a right to win in this room."

MorningStar general manager Sara Young said in a statement that growing ranks of flexitarians – consumers who eat both meat-based and vegetarian dishes – "still seek the amazing taste, texture and sizzling properties of meat, but want a better alternative for themselves and the planet. "

Incogmeato takes a leaf directly out of Beyond Meat's playbook by placing the new soy-based burger cakes in the fridge, as well as by selling directly to restaurants. Plant-based chicken nuggets and tenders will be sold in the freezer section next to traditional chicken products.

Smithfield Foods, Perdue Farms, Cargill and more

Other food giants that have recently launched plant-based proteins include Smithfield Foods, the world's largest producer of pork. In August, Smithfield debuted eight soy-based foods, including burger cakes, breakfast cakes and meatballs.

In May, JBS, the Brazilian-based company that turns Tyson out as the world's largest meat producer, created a new plant-based burger made from soy, wheat, garlic, onions and beets.

Perdue Farms in June rolled out a line mixed cauliflower, chickpeas and chicken nuggets to "help parents end the" eat your vegetables "fight."

And agricultural giant Cargill announced last week a $ 75 million investment in the pea protein company Puris, which is the main supplier of Beyond Meat.

"Companies like Tyson, Smithfield and Hormel, they're massive and they have an incredibly broad and loyal consumer base," said GFI's Friedrich. "And when they start making plant-based meat products, they can reach people who aren't the first adoptions."