Chunk Meals Carves Into the Vegan Steak Market, Anticipated to Cross $1 Billion by 2032

Whereas vegan burgers had been all of the craze lately, a brand new meatier plant-based possibility has entered the chat: vegan steak, a phase that market analysis agency Polaris Market Analysis predicts will cross the $1 billion mark by 2032. 

One of many key drivers behind this development is the rising client demand for high-protein, plant-based alternate options to conventional animal-based merchandise. 

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Corporations rising on this house embrace pioneering vegan burger marker Past Meat (which launched its Past Steak final yr); European import Juicy Marbles (which at present operates primarily on-line); Meati Meals (which makes use of mushroom root as a base); and Chunk Meals (an organization backed by actor Robert Downey Jr. that made its debut at a Florida steakhouse earlier this yr).  

What does it take to carve out an area on this rising market? We turned to Amos Golan, CEO of Chunk Meals, to seek out out. 

Vegan meat for steak lovers

Using fermentation strategies, Chunk crafts its vegan steaks with a mixture of cultured non-GMO soy and wheat that provide a nutritious profile. With out using components, thickeners, or binders, the product is flexible sufficient for a spread of cooking strategies, together with pan-searing, basting, grilling, smoking, stewing, and braising.

“Our merchandise are radically totally different, but comfortably acquainted,” Golan tells VegNews.

Low in salt and fats, the vegan steaks are additionally fortified with iron and B12, a vital vitamin that’s wanted as a complement for each vegans and the animals meat-eaters eat as it’s not bioavailable in soil.  

The toothsome vegan steaks are additionally excessive in protein, that includes greater than 38 grams per six-ounce serving. “That’s greater than most cuts of beef, and with zero ldl cholesterol and fewer than half of the fats,” Golan says. 

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At present, Chunk’s vegan steaks can be found in a rising variety of eating places throughout the nation corresponding to Monster Vegan in Philadelphia, PA. Right here, the vegan steak is slowly cooked for twenty-four hours and served as a Quick Rib Ragu.

So as to have larger market penetration, Chunk is strategically not solely focusing on vegetarians with its meaty vegan steak but in addition straight serving to meat-eaters select its merchandise in locations the place they dine. 

“We purpose to develop the addressable marketplace for plant-based merchandise,” Golan says. “This implies not simply going to vegan and vegetarian institutions.” 

“Our merchandise ought to be on the menu at each steakhouse, from tremendous eating experiences like Charley’s in Florida to Outback’s throughout the nation,” he says. “We wish to protect the custom of having fun with a scrumptious steak meal and a very good steakhouse expertise, and make it extra inclusive.”

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To that finish, Chunk is working with Speak of the City Restaurant Group (TOT), the biggest steakhouse chain in Central Florida. Charley’s Steakhouse turned the primary TOT restaurant so as to add Chunk in August with different TOT properties— together with FishBones and Vito’s Chop Home—hopping on board this fall. 

“Florida eats quite a lot of steak,” Golan says. “They consider in Chunk and the potential our merchandise maintain in assembly their strict standards for a plant-based steak possibility at their conventional steakhouses.”

Exterior of its increasing footprint at steakhouses, the corporate was not too long ago the one vegan vendor at this yr’s F1 Smoke Present, a meat-centric barbecue placed on by the worldwide motorsport in Austin, TX. 

Right here, Chunk teamed up with Chef Tristan Lora, who honed his culinary abilities cooking for the likes of Paul McCartney, Billie Eilish, and Mumford & Sons. Lora ready plant-based smoked steak tacos topped with cilantro slaw and pickled purple onions, showcasing the vegan possibility alongside legendary pitmasters and impressing meat-eaters on the occasion. 

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“The truth that we had been chosen as the only real plant-based meat on the F1 Grand Prix underscores the rising consciousness and appreciation for the standard and style of Chunk steak,” Golan says.

“We consider that is only the start of a extra important development the place plant-based choices grow to be extra mainstream and extensively accepted,” he says. “It reaffirms our dedication to offering scrumptious, wholesome, and revolutionary plant-based meals that may compete on a worldwide stage and cater to numerous tastes and preferences, whereas nonetheless preserving custom.”

Placing plant-based meat again in focus

Much like different plant-based meat firms, Chunk’s journey has not come with out roadblocks, created by a shift in public notion of plant-based meat alongside a saturating market. 

“One of many largest challenges is regaining individuals’s belief and optimistic notion of plant-based meats,” Golan says, earlier than commenting on the array of vegan meats that got here to market lately. “Some merchandise had been tasty, whereas many others had been simply not adequate, had a protracted checklist of elements, didn’t give sufficient worth to customers, or didn’t carry out properly sufficient.”

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It’s true that the plant-based meat craze has died down for numerous causes, together with focused misinformation campaigns by meat trade entrance teams such because the Heart for Shopper Freedom. Nevertheless, main firms corresponding to Past Meat are nonetheless placing up a struggle, most not too long ago with an advert marketing campaign that pulls consideration to the transparency of its plant-based meat manufacturing and the standard of its elements. 

Additionally, a current Stanford examine discovered that consuming Past Meat’s plant-based merchandise, versus its animal counterparts, has marked coronary heart well being advantages. 

Whereas predictions for the way forward for the plant-based meat market have diverse, a current report by monetary establishment Ernst & Younger presents a hopeful imaginative and prescient. The report predicts that the worldwide plant-based meat trade, which it valued at $16.5 billion in 2021, would develop to a whopping $139.4 billion by 2035. 

“Regardless of the financial uncertainty lately, a optimistic outlook is anticipated for the plant-based protein trade resulting from elements which are anticipated to outlast current disruptions,” the report states. “These embrace, however aren’t restricted to, sustained client demand, development in rising markets, and revolutionary product enhancements.”

Golan, too, believes that the plant-based meat trade remains to be younger, and plans to innovate the Chunk model past its preliminary goal of whole-cut beef, pork, lamb, and poultry, as the corporate’s know-how permits for the event of nearly any minimize of meat, none of which is able to come from an animal.

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