Kroger launching private label of vegan beef and burger patties
Kroger is in the process of launching its new private-label ground beef and their burger patties which are vegan as they are attempting at the capitalization on the growing demands of the consumers for the meatless substitutes which are plant based as per the statement of the company on this Wednesday.
The largest store chain for grocery in the nation is among a lot of the companies which are creating a version of their own vegan meats which are attempting to mimic the tastes of the real products of meat. The meat producers such as Hormel and Smithfield and the companies like Kellogg have been trying to hop on to this trend which has been sparked by the veggie burgers that had been made by Impossible Foods and Beyond Meat.
A senior official said in a statement that Kroger has been anticipating the interest in the products which are plant-based and how it is expected to grow in the year 2020 with this being the new important category of the organic and natural sales.
The products which are meatless may be able to provide a big opportunity for the brand. UBS has estimated that the grocery stores in United States are going to sell $7.2 billions of substitutes of meat by the year 2025 which is going to be up significantly from the amount in the year 2018 that is $750 million as the consumers are expected to cut down on their meat consumption because of the environmental and health concerns. The category though is still nascent even though Beyond Meat is making more than half of its revenue from the sales in grocery stores.