Meat substitutes' rise a danger to NZ farmers - KPMG

by Alexa Cook / 21 July, 2017

Impossible Foods' meat-free burger has led to the company attracting $US150 million in investment.

New Zealand farmers could be under threat from a rise in plant-based products that mimic animal products such as burger patties, KPMG says.

Its global head of agribusiness, Ian Proudfoot, said he has been to Silicon Valley and seen firsthand what alternative proteins were on the menu.

Mr Proudfoot said New Zealand meat and dairy producers needed to identify what level of risk the products presented for their industry and plan accordingly.

The threat of vegetarian alternatives to meat products was looming as companies were beginning to create products that would genuinely appeal to consumers, Mr Proudfoot said.

For example, US company Impossible Foods has developed a plant-based food that is said to closely resemble the taste and smell of meat - and has attracted $US150 million in investment.

"This is definitely going to happen in the next five years and it could start to happen in the next two to three years."

He said in the dairy sector, New Zealand would have multiple alternative milk products - such as almond and hemp milk - competing with it, all of which were designed to meet specific consumers' desires.

The current alternative meat market was less of a threat because it was aimed at wealthy consumers. However, this would change as the new "alternative protein" companies were bought up by bigger players in the food industry, he said.

Examples included Danone's purchase of Whitewave Foods and Tyson Foods investing in Beyond Meats.

"They'll reposition the product towards the lower end of the market, so they'll work out how to do a blended burger that is 50 percent processing beef and 50 percent plant protein.

"That's when it's really going to start to create questions for us in New Zealand about how we sell our product."

Producers needed to stay up to speed on the evolving world of food and nutrition.

"We need to ensure we understand the markets we want to sell into, the customers we're selling to, what is important to those customers ... everything in our production system has to be geared towards delivering them a great solution."

This story was first published on the RNZ website

Latest

The National get in touch with their feminine side in I Am Easy to Find
107163 2019-06-19 00:00:00Z Music

The National get in touch with their feminine side…

by James Belfield

As The National announce two intimate theatre shows in Auckland, James Belfield reviews their brave and collaborative new album.

Read more
German violinist Carolin Widmann brings her daring style to NZ
107272 2019-06-19 00:00:00Z Music

German violinist Carolin Widmann brings her daring…

by Elizabeth Kerr

The award-winning musician will make her NZSO debut playing Stravinsky’s only violin concerto.

Read more
In defence of NZ Rugby boss Steve Tew
107277 2019-06-19 00:00:00Z Sport

In defence of NZ Rugby boss Steve Tew

by Paul Thomas

Naysayers may rail against rugby’s continued “corporatisation” under Steve Tew, but he’s given them plenty to applaud as well.

Read more
How New Zealand's community newspapers are bucking the trend
107362 2019-06-19 00:00:00Z Life in NZ

How New Zealand's community newspapers are bucking…

by Venetia Sherson

Community newspapers are bucking the trend, as enterprising new owners breath life back into them.

Read more
What filmmaker Andrea Bosshard learned from her goldsmith father Kobi
107381 2019-06-19 00:00:00Z Life in NZ

What filmmaker Andrea Bosshard learned from her go…

by Ken Downie

Filmmaker Andrea Bosshard inherited a creative streak from her goldsmith father Kobi but he also taught her an important life lesson.

Read more
Will Uber disrupt itself with its Jump scooters?
107383 2019-06-19 00:00:00Z Tech

Will Uber disrupt itself with its Jump scooters?

by Peter Griffin

Around 800 electric scooters arrived in Wellington this week, with local start-up Flamingo and Uber-owned Jump launching at virtually the same time.

Read more
Libra: Why Facebook is the best and worst company to create a cryptocurrency
107416 2019-06-19 00:00:00Z Tech

Libra: Why Facebook is the best and worst company…

by Peter Griffin

There is a strong incentive for Facebook to own the crypto space, the way it has social media.

Read more
Win a double pass to Yesterday
107340 2019-06-18 09:48:44Z Win

Win a double pass to Yesterday

by The Listener

Yesterday, everyone knew The Beatles. Today, only Jack remembers their songs. He’s about to become a very big deal.

Read more