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September 30, 2020

Tesco makes plant-based food commitment

Tesco has made a commitment to boost sales of plant-based products such as ready-meals and meat alternatives over the next five years.

By Dean Best

Tesco has made a commitment to boost sales of plant-based products such as ready-meals and meat alternatives over the next five years as the UK supermarket chain increases work with the World Wide Fund for Nature (WWF) to halve the environmental impact of food production.

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The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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It has set a target to increase sales of meat-free products by 300% by 2025, claiming it is the first UK retailer to make such a commitment.

Tesco said it will introduce plant-based meat-free products across 20 different categories, including ready-meals, breaded meat alternatives, sausages, burgers, quiches, pies and party foods. 

CEO Dave Lewis said: “We know from our experience in tackling food waste that transparency and setting ambitious targets are the first steps towards becoming a more sustainable business. Our transparency on protein sales and our new sales target for meat alternatives gives us the platform to becoming more sustainable and will provide customers with even more choice.

“These measures are just part of the work we’re doing with WWF, bringing together for the first time a host of sustainability metrics to help us halve the environmental impact of food production. 

“We also call on the government to do more by helping to scale up innovations and create a level playing field to ensure companies drive sustainability in their supply chains.”

As part of the project, Tesco said it will “invest in value so that affordability is not a barrier to buying plant-based meat alternatives”, and will work with its suppliers to boost innovation in the category. It will place meat and meat-free products together in stores to encourage more shoppers to buy.

Tesco and the WWF launched the Sustainable Basket Metric in 2019 and the retailer has so far achieved 11% of its target to halve the environmental impact of the average shopping basket. 

The metric measures environmental impacts of food across seven different categories: climate change; deforestation; sustainable diets; sustainable agriculture; marine sustainability; food waste; and packaging waste, Tesco said. 

Tanya Steele, the WWF CEO, added: “It’s great to see this sector-leading step from Tesco. Tackling the environmental impact of what we eat and how we produce it has never been so urgent.  

“WWF’s Living Planet Report 2020 has revealed that, in the last 50 years, wildlife populations have declined on average by 68%. The food system has been identified as the biggest culprit, but also presents one of the greatest opportunities to reverse this trend; rebalancing our diets is a critical part of that.”

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Free Report
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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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