Aside from plantbased products mycelium or mycoprotein products have the best short term scale up potential. Meati Foods have just announced a partnership with Dot Foods to offer their products through Dot’s more tan 5,200 distributors across 50 US states. To support their expansion Meati recently opened their “Mega Ranch” capable of several thousand tonnes of their mycelium product at full capacity. Their plan is to generate USD1 bn in sales within 5 years.
Many plantbased companies have recently suffered drops in sales. So can mycelium products ramp up the growth of alternative protein products? As Meati Foods President Scott Tassani says “In the retail channel, the existing alternative protein products have not delivered on consumers’ non-negotiables of flavour, nutrition, and a clean label”. If Meati can indeed deliver on the flavour consumers are looking for then perhaps they can help accelerate the uptake of alternative proteins.
As I’ve mentioned before a product needs to be TECH in order to succeed.
Tasty
Easy (to use)
Cheap (compared to competing products)
Healthy (for consumers and the planet.)
Once a product achieves all of these attributes then it greatly increases its chances of long term success. It’ll be interesting to see how Meati’s sales fare in the coming 12 months.
