Century Pacific Food Inc., a leading food and beverage manufacturer, said Thursday it has widened the availability of its plant-based brand unMEAT in the US with its entry into Albertsons, a food and drug retailer with a strong presence in 34 states.
unMEAT, a meat alternative that comes in variants such as Luncheon Meat Style, Burger-Style Luncheon Meat, and Chicken-Style Chunks, is rolling out in close to 2,000 Albertsons outlets in a bid to expand its reach and increase market accessibility.
“We are pleased with the trajectory of our plant-based business. While still in their early days, unMEAT’s latest innovations in the space are penetrating more mainstream retailers such as Albertsons and gaining traction on shelf. We’re seeing this trend develop in other key markets as well,” said Century Pacific executive chairman Christopher Po in a statement.
Po said Century Pacific is committed to growing the meat alternative business despite challenges in recent years. He said shifting consumer preference to alternative meat is a “long-game” that needs patience, education and innovation.
“Two major factors are driving us in this pursuit. One, we believe that long-term trends remain. Consumers still want healthier and more sustainable food options, and we believe plant-based alternatives have a role to play in serving this need. Two, we see ourselves as a protein delivery company. We have the capability to build this vertical, learning along the way, and, hopefully, we can democratize the category in the process,” Po said.
CNPF forayed into the plant-based business in 2020, where unMEAT had its institutional launch through an affiliate company, Shakey’s Pizza Asia Ventures, Inc. In 2021, unMEAT entered the domestic retail market and began its international rollout in select markets. Since then, unMEAT has expanded its footprint in mainstream retailers such as Walmart, Harris Teeter, HEB, and Meijer in the US, Carrefour in the UAE, and FairPrice in Singapore.
The world market for meat substitute was estimated at $9.9 billion in 2021 and is expected to increase at a compound annual growth rate of 42 percent through 2030, according to a report by India and U.S. based market research and consulting firm Grand View Research.
