Americans are expected to spend $6.8 billion on food this Fourth of July, according to Wallet Hub. Outside of celebrating American independence, the holiday is perhaps most associated with grilling meat.
However, this year Americans will also be eating something different, yet very similar.
Plant-based meat alternatives have become an evermore frequent menu item at restaurants nationwide, including giants like White Castle and Burger King, making a dent in the traditional meat market.
H.G. Parsa, the Barron Hilton Distinguished Professor of Lodging Management at the University of Denver has worked in the food industry for decades and believes this new alternative is here to stay.
“When Burger King introduced the special burger, sales went up 11 percent,” Parsa said. “That’s huge!”
The success of companies like Beyond Meat and Impossible Foods is an encouraging sign for companies in the space but still has several logistical challenges to get meet market demand.
“Supply chain is the issue here, not consumer demand,” Parsa pointed out.
Time will tell if plant-based solutions are a fad or not, but on this Fourth of July weekend, plenty of people will be giving it a chance.
For the latest news, videos, and podcasts in the Food & Beverage Industry, be sure to subscribe to our industry publication.
Follow us on social media for the latest updates in B2B!
Twitter – @FoodMKSL
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale
