BCRC CELEBRATES 25 YEARS OF BEEF INDUSTRY RESEARCH

Since 1998, the Beef Cattle Research Council (BCRC) has operated as a division of the Canadian Cattle Association (CCA), and 2023 marks 25 years as Canada’s national industry-led funding agency for beef, cattle and forage research.

Directed by a committee of beef producers from across the country, the BCRC has played an important role in identifying the industry’s research and technology transfer priorities influencing public sector investment in beef, cattle and forage research.

“As a beef producer and past chair of the Beef Cattle Research Council, I have had a front-row seat to observe how applied research and extension is improving productivity and profitability for Canada’s beef producers,” said Matt Bowman, BCRC past chair. “By leveraging producer-paid Canadian Beef Cattle Check-Off dollars and listening to the industry’s needs, the BCRC has continued to develop practical resources to help farmers and ranchers make informed decisions that improve profitability, reduce risks and enhance consumer confidence in Canadian beef production.”

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The 25 years of industry investment into Canadian beef industry research and extension has resulted in significant strides in mitigating production issues and advancing management practices including pain control, extended grazing, feeding/finishing and the reduction of the contamination of E. coli O157:H7.

“Change and growth takes time. As producers we put our heads down and get to work, often forgetting to look back and reflect at how our operation has changed over time,” said Craig Lehr, BCRC chair. “In the last 25 years the BCRC has grown into an indispensable organization for Canadian beef producers. From advancements in the feed we grow to the way we feed it, genetics to animal health, pasture to the feed yard, there is no aspect of Canadian beef production that hasn’t been changed through research and extension. Leadership initiatives, such as the Beef Researcher Mentorship Program, have also helped connect researchers with industry and producers.”

Throughout the coming year, articles, videos and other media will be released to celebrate 25 years of check-off dollars advancing research in the beef sector. For more information, visit https://www.beefresearch.ca/

FAKE MEAT WAS SUPPOSED TO SAVE THE WORLD. IT BECAME JUST ANOTHER FAD

By Deena Shanker, Bloomberg

Beyond Meat and Impossible Foods wanted to upend the world’s $1 trillion meat industry. But plant-based meat is turning out to be a flop so, too, would his system of breaking down plants transform the protein at the center of the plate.

Ever since founding Beyond Meat Inc. in 2009 with the then fantastical idea of making meat without animals, Ethan Brown has been giving the equivalent of one extremely long TED Talk.

"This," he said, "is something that I feel is inevitable."

Silicon Valley didn't need much convincing that a better veggie burger could become the next worldchanging disruption. Whereas the quinoa-and-bean patties of yore were for the crunchy set, Brown's beef facsimile, concocted in a lab to look and taste like the real thing, meant the vast majority of meat eaters could give up their burgers without having to give up anything at all. Along with the venture capitalists came investors from every corner of culture—Leonardo DiCaprio, the Humane Society of the United States and former McDonald's Corp. Chief Executive Officer Don Thompson.

In 2013 he took the stage at the Wired Business conference, explaining that the world had a very real greenhouse gas-emitting meat problem and that venture capitalists could make a bigger impact investing in fake meat than in solar energy. At Toronto's annual Ideacity gathering three years later, he said his goal was to replicate the "blueprint of meat." By the time he appeared at Goldman Sachs Group Inc.'s Builders & Innovators Summit 2019, he explained that his mission demanded the urgency and scale the U.S. mustered for World War II and that his products would simultaneously help solve heart disease, diabetes, cancer, climate change, natural resource depletion and animal welfare. Just like technology had rendered the horse-drawn carriage obsolete, he told the crowd at the New York Times' climate conference this past fall,

Even Tyson Foods Inc., the biggest maker of real meat in the US, invested and then invested again, catapulting the young El Segundo, California-based startup to a $1.3 billion valuation by 2018.

Bill Gates wanted in, too, backing not one but two companies with veggie burgers that "bleed" like real beef—Beyond, as well as its rival Impossible Foods Inc. Brown had licensed someone else's process, but Impossible was the brainchild of a Stanford University biochemist named Pat Brown (no relation to Ethan). When Pat founded Impossible in 2011, his big breakthrough was realizing that a molecule called heme was the key to meat's meatiness. He made heme with genetically modified yeast and patented the use of what the company called its magic ingredient: soy leghemoglobin.

Before Impossible had sold even a single burger, the company managed to raise $183 million. Pat also worked the circuit, including an actual TED Talk (technically, it was TEDMed) in 2015. Speaking in slightly more apocalyptic terms than Ethan, Pat referred to the "ongoing wildlife holocaust" caused by the world's insatiable demand for meat, while an assistant sizzled an Impossible Burger onstage beside him. "I know it sounds insane to replace a deeply entrenched, trillion-dollar-a-year global industry," he said, "but it has to be done." Four years later, when the New Yorker profiled Impossible, Pat predicted his company would "take a double-digit portion of the beef market" by 2024 before sending it into a "death spiral." Next he would target "the pork industry and the chicken industry and say, 'You're next!' and they'll go bankrupt even faster."

But Big Meat is still alive and well. After Beyond went public in 2019—at the time the most successful major initial public offering since the 2008 financial crisis—competitors rushed into the space, followed by a category wide pandemic surge. Since then the industry has plunged. Supermarket sales of refrigerated plant-based meat plummeted 14% by volume for the 52 weeks ended Dec. 4, according to retail data company IRI. Orders of plant-based burgers at restaurants and other food-service outlets for the 12 months ended in November were down 9% from three years earlier, according to market researcher NPD Group.

Beyond lost sales in almost every channel last quarter. Over the past year it laid off more than 20% of its workforce, lost more than half of its C-suite and halted projects including vegan hot dogs and the next altprotein frontier of cell-cultured meat, according to people with knowledge of the matter, who asked not to be named discussing private information about the company. None of the biggest fast-food chains that had announced partnerships with Beyond—KFC, Pizza Hut and, most important, McDonald's—have put a single permanent item on their U.S. menus. While an index of packaged-food companies on the S&P 500 was up about 4% from a year ago, as of Jan. 17, Beyond's stock price is now hovering around $16, down about 76% from a year earlier and roughly 93% from its peak in the summer of 2019.

Impossible, meanwhile, is faring better—but Pat is out at the company. Last April he stepped down to chief visionary officer, replaced as CEO by a Chobani Inc. executive, before taking a leave of absence. Under new CEO Peter McGuinness, Impossible has spun up new products such as animal-shaped faux chicken nuggets and blitzed supermarkets, leading to more than 50% retail sales growth in the US in 2022. While it has added restaurant partners, some of its long-standing ones are finding consumer excitement has either hit a wall or is declining. Shares of Impossible, a private company, are currently trading at around $12, says Prab Rattan, head of capital markets at Hiive, a marketplace for private stock trading. That's about half the price during its last fundraising round, based on PitchBook data.

Plant-based meat's most reliable enthusiasts at this point are those original veggie burger stans, vegans and vegetarians. The all-important meat eaters do partake, but at a much lower frequency. "They're just not that into it," says Chris DuBois, head of IRI's protein practice.

How did an industry with so much riding on it— backed by so much money—suddenly fizzle out? The companies declined to make Ethan Brown and Pat Brown available to talk to Bloomberg Businessweek, but at that New York Times climate conference in October, Ethan pointed his finger at the actual meat industry for fake meat's headwinds. "They are doing their very best today to suggest that our process is somehow unhealthy or that our products are full of chemicals," he said. "These things are not true."

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WORLDWIDE PORK INDUSTRY IS EXPECTED TO REACH $418+ BILLION BY 2028

Research and Markets is the world’s largest market research store with clients all over the world, including 450+ of the Fortune 500 Clients. The company recently released its report entitled "Global Pork Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis".

The report summarized that the Global Pork Market is expected to be US$ 418.37 Billion by 2028 as pork is the most widely and popular consumed meat source worldwide.

The global swine industries are very dynamic and the primary protein source for millions across numerous cultures. Pork is cheaper than any other meat source, which is a significant factor in its high consumption.

A significant middle-class population, growing disposable income, and changing consumer preferences are levitating pork demand. However, the rise in the adoption of veganism and stringent law against the animal cruelty act are the major restraints of the global pork meat market.

The growth of the pork meat market can be attributed to changes in the food consumption pattern of people worldwide. In addition, the expansion of the retail market and easy availability of the product through various sales channels make it convenient for consumers to purchase packaged pork meat, which drives the sales figures.

Worldwide Pork Market Was Valued

US$ 254.53 BILLION IN 2022.

Frozen pork meat is growing manifold due to the rapid increase in consumption of meat.

The growth in the online application of pork purchasing can be directly attributed to the surge in the working population and the trend of consuming meals outside homes.

Increasing the popularity of organic pork meat and clean-label products is expected to offer lucrative opportunities for expansion and the growth of the global pork meat market.

Consumers increasingly demand ready-to-eat and ready-to-cook pork meat products with better taste and quality. The increasing awareness about the risks associated with using nitrate for curing purposes in processed meat has enabled manufacturers to replace nitrate with other curing agents, such as celery powder, to achieve the same effect. Such factors register a significant demand for nitrite-free processed meat products such as bacon in European countries.

Household consumption of pork has increased considerably because it is a staple food and has various benefits associated with pork meat, such as its rich source of proteins and vitamins and its luscious taste.

GLOBAL PORK INDUSTRY IS EXPECTED TO GROW WITH A CAGR OF NEARLY 8.64% FROM 2022 TO 2028

The pig industry continues to thrive in areas with plentiful access to grains and protein sources. Pigs are adaptable to various climatic conditions, as evidenced by a large number of breeds present throughout the world. According to USDA, in 2021, worldwide, over 752 million pigs, increasing from the previous year. In this same period, China was home to the most pig and head. In other meaning, China produced more than half of the global pig population, and Europe and the United States were second and third. Brazil, Canada, Mexico, the Philippines, South Korea, Japan, and Hong Kong was in the top 10 producing countries.

The Five biggest imported pork markets are Japan, mainland China, Mexico, Italy, and South Korea. During 2022, Asian countries imported the highest worth of pork, of the world's total. Europe is also one of the biggest pork importer. Some of import were bought by customers in Latin America excluding Mexico but including the Caribbean, Oceania led by Australia and New Zealand, and Africa.

Pork consumption is very high in North America, Europe, and developing Asian regions, such as Japan and China. According to the United States Department of Agriculture's National Agricultural report, the most commonly consumed meat in the world is pork and poultry. The factors influencing change are generally related to economic efficiency and competition from alternative protein sources.

The global trend is for fewer producers responsible for more significant numbers of pigs and more concentration within the swine industry. The ability to maintain economic viability is a function of providing optimal facilities, genetics, nutrition, and health programs to the pig in a system that addresses the cost of production and generates revenue from the marketing of a high-quality product.

Asia is the leading pork consumer, with more than half of the world's production. Apart from this, South Korea, Taiwan, and Japan are the markets for pork consumption, while Vietnam and the Philippines are emerging markets. Pork meat has been consumed in the East Asian region since ancient times and is the most preferred meat due to its taste and fat content.

Asia Pacific is the world's largest exporter of pork, followed by Europe and North America. In contrast, China, the U.S., Canada, Brazil, and European countries are the major pork exporters. In global pork exports, European Union maintained its leadership. The U.S., Canada, and Brazil ranked top five in world pork exports. The pork meat players have adopted new product launches as their key development strategy to maintain their presence in the pork meat market.

Some key players in the report include JBS S.A., Tyson Foods, Pilgrim's pride corporation, Danish crown group, Vion Food Group, WH Groups, Hormel Foods Corporation, and Muyuan Foods.

For more information, visit https://www. researchandmarkets.com/