Canadian food processing company Maple Leaf Foods is planning to expand its plant-based meat operations in the US. The company aims to capitalise on growing demand for alternatives to meat in America, the largest such market in the world. Sales of plant-based meat grew by 27% in the US in 2020. Maple Leaf intends to set up production facilities both on the East and West coasts to tap supply in both regions. The company has already purchased a facility in Indianapolis, and will expand an existing site in Shelbyville. It invested $310m in the world’s largest plant-based protein facility in Canada in 2018.

Maple Leaf Foods, a leading Canadian food processing company, has announced its plans to expand its operations in the US market. The company’s move is aimed at capitalizing on the growing demand for plant-based meat alternatives in the US market.

Background

Maple Leaf Foods, which is known for its meat-based products, has been gradually increasing its focus on plant-based alternatives over the past few years. In 2018, the company announced that it would invest $310 million to build a new plant-based protein facility in Canada, which would be one of the largest in the world.

The new facility was aimed at catering to the rising demand for plant-based protein products, which had been growing exponentially. According to a report by ResearchAndMarkets, the global plant-based meat market size is expected to reach $13.8 billion by 2027, growing at a CAGR of 11.9% during the forecast period.

Expansion Plans

The company’s latest move to expand its operations in the US market is part of its ongoing efforts to tap into the growing demand for plant-based meat alternatives. The US is the world’s largest market for plant-based meat, with sales of such products increasing by 27% in 2020.

Maple Leaf Foods plans to set up production facilities on the East and West coasts of the US, which would enable it to cater to the demand from both these markets. The company has already acquired a new production facility in Indianapolis, Indiana, and plans to expand its current facility in Shelbyville, Indiana.

According to Michael McCain, the CEO of Maple Leaf Foods, the company’s expansion plans are aimed at transforming the way food is made, by offering plant-based alternatives that are sustainable and good for the environment. He added that the company’s move was driven by the growing demand for plant-based protein products, which was likely to continue in the future.

FAQs

What is Maple Leaf Foods?

Maple Leaf Foods is a Canadian food processing company that is known for its meat-based products. The company has been gradually transitioning towards plant-based meat alternatives over the past few years.

What is the plant-based meat market?

The plant-based meat market refers to the market for meat alternatives that are made from plant-based ingredients. The market has been growing rapidly in recent years, driven by increasing demand from consumers for healthier and more sustainable food options.

Why is Maple Leaf Foods expanding in the US market?

Maple Leaf Foods is expanding in the US market to capitalize on the growing demand for plant-based meat alternatives. The US is the world’s largest market for plant-based meat, with sales of such products increasing by 27% in 2020.

What are Maple Leaf Foods’ expansion plans in the US market?

Maple Leaf Foods plans to set up production facilities on the East and West coasts of the US, which would enable it to cater to the demand from both these markets. The company has already acquired a new production facility in Indianapolis, Indiana, and plans to expand its current facility in Shelbyville, Indiana.

What is the global plant-based meat market expected to reach by 2027?

According to a report by ResearchAndMarkets, the global plant-based meat market size is expected to reach $13.8 billion by 2027, growing at a CAGR of 11.9% during the forecast period.