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Read More »5 Most Innovative Food Companies Changing the US Market
If you have ever asked who the most innovative players are in the US market, this article is for you.
The plant-based food movement has generated some innovative products and services.
5 most innovative food companies in the US Market
The 5 most innovative food company in the US market, in the plant-based market, include: 1. Impossible Foods, 2. Beyond Meat, 3. Oatly, 4. Nima Sensor, 5. Blue Apron.
As we get started in reviewing these innovative companies, here are some excellent resources, whom coincidentally, also serve as suppliers to some of the most innovative food companies in the world that we discuss below:
What is the biggest agricultural company in the US? (Top 5)
Who is bigger, ADM or Cargill? (Compared)
From Impossible Foods to Nima Sensor and Blue Apron, let’s look at five products that are helping to revolutionize the plant-based food industry.
Impossible Foods
Impossible Foods is a plant-based food company that produces burgers, ground beef, and other products that taste like their animal-based counterparts. Their mission is to make the global food system more sustainable and to reduce animal suffering by creating a delicious, affordable, and sustainable alternative to animal-based products.
Their flagship product, the Impossible Burger, is made from wheat and potato proteins, coconut oil, and heme – an iron-containing molecule found in plants and animals which gives meat its flavor and aroma.
The Impossible Burger is now available in thousands of restaurants around the world.
Beyond Meat
Beyond Meat is a plant-based protein company that produces burgers, sausages, chicken strips, and more.
Their mission is to create delicious, nutritious, and sustainable food that is accessible to everyone.
Their products are made from plant proteins like peas, mung beans, and brown rice. Beyond Meat’s flagship product, the Beyond Burger, is available in over 35,000 restaurants and grocery stores across the United States.
Based on their financials as reported by Morningstar, Beyond Meat (Nasdaq: BYND) is not in a healthy condition. Similar to Oatly (see below), in just about 2 years, their EBITDA has decrease by almost a factor of 10x. Their operating income isnt far behind in performance.
And with a stock price peaking at $234.90 in July of 2019, today they are trading for $17.93. A decrease at a rate of more than 10x.
Whether this is short term or not while the marlet decides, the further pressures of a rising cost of capital with increase interest rates will probably decide the fate of Beyond Meat.
For a very helpful article about rising interest rates, go here:
What Higher Interest Rates Mean for Marketing Your Business (9 ways)
Oatly
Oatly is a Swedish oat milk company that produces non-dairy milk, ice cream, yogurt, and other products.
Their mission is to make delicious and nutritious plant-based products that are both sustainable and accessible to everyone.
Their products are made from oats, which experts tell us are a sustainable and renewable crop.
Oatly has gained popularity in recent years due to its creamy texture and its delicious taste.
After reviewing their financials, it looks like Oatly is truly a market test indicative of their website marketing and the company financials.
For one, their website can only be described as a total mess, serving as a classic example of what NOT to do. Simply check out the screenshot image of their main site home page, above the fold. Granted this site must be made for mobile first (we also teach this), the PC view offers little focus, no benefits to the customer and is a poor example of an advertisement in any media.
At one point, less than 2 years at the time of this review, the stock (Nasdaq: OTLY) was trading at a peak of $28.73 on June 11, 2021. Today, is at $2.13.
While sales are trending up at fantastic rates, operating income and EBITDA are decreasing at alarming downward trends.
With this is part of their strategic plan in order to gain a massive amount of customers at a loss, or other things are going on.
Time will tell. But they better figure it out fast as the cost of capital increases rapidly and investors will want a return on their capital at some point.
Oatly needs to spend more time on getting their financials in line with the best food companies on the planet, and less time being super creative with whateer they are doing with their communications techniques used to gain a customer.
They would do better, if they studied these companies here:
Food manufacturing financial ratios (Hormel vs Pepsi vs Nestle)
Nima Sensor
Nima Sensor is a portable food testing device that allows consumers to quickly and easily test their food for gluten and other allergens.
The device can detect the presence of gluten in a food sample in less than three minutes.
Nima Sensor is a great tool for people with food allergies, as it gives them peace of mind when dining out or eating at home.
This is a very innovative product at the right time. This looks like Nima Sensor has found an excellent message-market fit.
For an excellent article on finding message market fit, which is the first rule of marketing, go here:
What is the first rule of marketing? (Solved!)
Blue Apron
Blue Apron is a meal kit delivery service that makes it easy to cook delicious, nutritious, and sustainable meals at home.
Their mission is to make home cooking convenient and accessible to everyone. Each meal kit contains pre-measured ingredients, step-by-step recipe cards, and easy-to-follow instructions.
Blue Apron also offers vegetarian and vegan meal kits, making it easy and convenient to cook plant-based meals at home.
Blue Apron is definitely worth studying for their use of marketing. They have an excellent headline above the main call to action (CTA). They also have a great clear, easy to understand high-value offer saving the customer $110 with free shipping. Contrary to Oatly, their site is clear and easy to understand and take action on.
Well done Blue Apron.
The plant-based food industry is revolutionizing the way we eat and the products highlighted above are leading the way in this movement.
From Impossible Foods and Beyond Meat to Nima Sensor and Blue Apron, experts tell us these products are making plant-based food more accessible, delicious, and sustainable.
Whether this is true or not based on what the market actually wants, time will tell.
For more very helpful articles about food marketing and advertising, go here:
Frequently Asked Questions
What is Impossible Foods' mission?
Impossible Foods' mission is to create delicious and environmentally responsible plant-based food products that replace animal-based foods. The company's goal is to reduce the global demand for animals as a food source by providing delicious and sustainable plant-based alternatives to animal-based products. Impossible Foods uses innovative scientific methods to create its products, which are designed to look and taste like the animal-based foods they replace.
What is the main ingredient in Beyond Meat's flagship product?
The main ingredient in Beyond Meat's flagship product is pea protein. Beyond Meat uses pea protein isolate, which is a vegan-friendly source of protein, to create its burgers and other plant-based meat alternatives. The company also uses coconut oil, potato starch, and other ingredients to create its products.
What does the Nima Sensor do?
The Nima Sensor is a portable device that can detect gluten in food samples. The device works by testing food samples for the presence of gluten proteins. The Nima Sensor can detect gluten in food samples in as little as two minutes.
What type of meal kits does Blue Apron offer?
Blue Apron offers a variety of meal kits that are designed to make meal preparation easier and more convenient. The meal kits include pre-measured ingredients and easy-to-follow recipes. Blue Apron offers meal kits that are tailored to a variety of diets, such as vegetarian, vegan, and gluten-free.
What is the main ingredient used to make Oatly products?
Oatly products are made with oat milk, which is a non-dairy milk alternative made from oats. Oat milk is a vegan-friendly alternative to dairy milk and is made by blending oats with water. Oatly products are also made with other plant-based ingredients, such as sunflower oil, coconut oil, and cocoa butter.
How long does it take the Nima Sensor to detect gluten in a food sample?
The Nima Sensor can detect gluten in food samples in as little as two minutes. The device works by testing food samples for the presence of gluten proteins. The Nima Sensor is designed to be used quickly and conveniently, making it an ideal tool for those who need to know if a food contains gluten.
