29-Sep-2021 - dpa Deutsche Presseagentur GmbH

Modern Plant Based Foods in talks with major fast food and restaurant chains.

Modern Plant-Based Foods, a manufacturer of award-winning plant-based foods, is pleased to announce that Modern Meat, its meat alternatives division, has received significant interest from quick service restaurants (QSRs) and restaurant chains to supply its plant-based meat alternatives. Prospective customers are located in high-traffic areas such as shopping malls, city plazas and even stand-alone restaurants.

As the vegetarian and vegan community grows rapidly, fast food companies are adapting and offering more plant-based foods. Increasingly, it is hard to imagine a menu without plant-based proteins. Led by a desire for sustainability and healthier eating, consumers are discovering that they can get plenty of protein without eating meat or seafood. Millennials in particular are more health conscious and are looking for foods that are good for them and the planet.

The fast food industry is one of the largest sectors of the food industry, and as we position ourselves for continued growth, it makes sense to enter this channel, said Tara Haddad, founder of Modern Plant-Based Foods. In addition, one of our main goals is to make our products more accessible and affordable to the mainstream, and this development will help us in our efforts.

A study by the Center for Disease Control shows that just over 36.6% of adults1 in America eat fast food on a daily basis. In addition, the global QSR market reached USD 610.23billion2.

Interest is so high that we are already in discussions with several restaurant chains who recognize that it is increasingly important to offer plant-based options on menus. There is also a lot of interest from companies who want us to create a high-quality plant-based product as a meat alternative specifically for their consumer base that is gluten and soy free and non-GMO, Tara explained.

Restaurant and fast food dining has changed dramatically in recent years, with almost all major chains now offering a vegan and vegetarian alternative. As time goes on, consumers are becoming more aware of the ingredients they are consuming and we believe we are ahead of the curve when it comes to identifying important health and nutritional restrictions. This makes us one of the preferred vendors for these national and multinational chains, said Joni Berg, CEO of the company.

Modern Plant-Based Foods is also negotiating a potential multi-national, multi-billion dollar partnership for its plant-based Breakfast Patty. The company is looking to increase margins and potential scalability to ensure adequate supply. The company will continue to update shareholders on the progress of the discussions.

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1 Statista, July 2021

2 Markets and Research, June 2021

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

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