24 May 2021
Posted in Consumer
Compass Group’s move to go plant-based reflects massive industry shift to ‘greener’ operations, says GlobalData
Following today’s news (May 24th) that Compass Group plans to convert 40% of meals to plant-based alternatives by 2030;
Carmen Bryan, Consumer Analyst at GlobalData, a leading data and analytics company, offers her view:
“News that Compass Group is planning to convert 40% of its portfolio to plant-based meals is a key industry signifier, particularly within contract services, but it comes as no surprise. Plant-based products have quickly gained mainstream attention, and according to GlobalData, this interest is not expected to slow down any time soon.
“Worldwide, over a third (*35%) of consumers admit that they are extremely or somewhat likely to choose plant-based alternatives to dairy, while 29% admit the same for meat and seafood products. The prevalence of plant-based diets – driven by increased awareness of sustainability, health and animal well-fare – should not be taken lightly by industry players.
“Compass Group’s move comes off the back of UN sustainability campaigns, and it will only further pressure other players to follow suit. A sustainable supply chain is now a crucial element to players’ competitiveness, with 33% of global consumers wanting to know about brands sustainability initiatives. This move will allow Compass to tap into a lucrative market while also aligning to a number of prominent consumer trends. Until a more sustainable meat business can be implemented – there is high hopes for the adoption of cultured meat – players will continue to turn to plant-based alternatives to ‘go green’ for the future.”
*Data taken from GlobalData’s 2021 Q1 Consumer Survey, March 2021