Welcome to the MEAT Traders’ Journal

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This Week News Update

1. Beyond Meat’s Market loss of market share

   Beyond Meat’s stock has plummeted by 97% since its IPO, despite brief enthusiasm following better-than-expected 4Q earnings, it faces ongoing sales declines and deepening losses. The company continue to lose market share within the expanding meat substitute industry. The overall industry grew by 13%. Despite implementing price increases, launching new products, and planning significant operating budget cut, Beyond Meat’s future is uncertain.

1. Arizona Bill on Meat Alternatives Labeling

   Arizona Rep. Quang Nguyen introduced a bill (HB2244) aimed at regulating and enforcing stricter labeling of lab-grown meat and plant-based alternatives to prevent misrepresentation and enhance consumer transparency in identifying these products distinctly from traditional meat.

2. China lifts ban on some German Beef Imports

   China has lifted restrictions related to mad cow disease on certain German beef imports, specifically de-boned beef from calves under 30 months. This move comes as part of broader measures to improve market access between China and Germany.

   Alongside beef, China has agreed to allow imports of German apples and ease regulations on pork imports, enhancing the trade relationship further.

3. Cultivated Meat Tasting in European Union

   Meatable, a Dutch food tech company, recently conducted the first legally approved cultivated meat tasting within the European Union, featuring its cultivated pork sausages.

   The Netherlands has emerged as the first EU country to allow such tastings, subject to approval by an independent committee sanctioned by the Dutch government. This step is crucial for gathering feedback and refining products ahead of full regulatory approval and market launch.

   This event represents a significant advancement for the cultivated meat industry in Europe and could catalyze further development and acceptance of cultivated meat technologies worldwide.

4. Global Pork Consumption

   Rabobank 2024 Global Pork Industry Forecast trade Contraction.

   • High inventory levels and logistical challenges in the Red Sea and Suez Canal are expected to contract further global pork trade in 2024.

   • Despite inflation, pork remains a cost-effective alternative to beef, with strong consumption likely to improve as economies stabilize.

   • Growth in Brazil contrasts with reductions in Asia due to disease outbreaks and economic pressures, leading to market uncertainty.

   • Advances in genetics and farm management are set to enhance and increase pork industry productivity in 2024.

   • This year China, the USA and some European countries will experience a flat production. Diseases, negative profit margins, oversupply, weak demand are drivers of destocking. Productivity is expected to increase due to advancements in genetics, enhanced farm management practices, and effective cost-saving measures.

🥩Consumers: Meat Labels INFO

A must watch video for those thinking that the labelling between traditional meat and based meat is weak and misleading and confusing.

• A proposed Arizona bill aims to regulate the labeling of alternative meat products like plant-based and cell-cultured meats to prevent them from being misleadingly described as traditional meat.

• The bill would make it illegal to use meat-related terms that suggest the product is derived from animals when it is not, responding to confusion among consumers.

• The legislation arises as the plant-based meat market has seen significant growth, with a 43% increase in sales since 2019, according to the Good Food Institute.

• Some stakeholders, including local ranchers, support the bill as they believe the rising popularity of alternative meats threatens their livelihood by shifting consumer preferences away from traditional animal products.

• Critics argue that the bill's language is too vague and overlaps with existing federal guidelines on food labeling, raising concerns about the potential implications for product names like "juicy veggie burger" or "meaty veggie burger."

Lisa Khan in the video says:

What Lisa Khan says is a fact. Therefore, it’s important for the industry in general so that the industry is expanded with alternatives, rather than contracted. And the most important, consumers must not be confused or mislead.

One last thing…

We all know how challenging is to secure viable and trustful LEADS… wouldn’t you agree?

3 ways MTH can help when You are Ready:

✅Your Supply and Purchasing Advisor 1:1 (30 minutes Strategy Session)

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