Despite the dramatic increase in demand for plant-based protein alternatives, the term “plant-based” does not inherently guarantee exceptional health benefits. Consumers, however, may have a different perception. A recent study by DuPont Nutrition & Health revealed that 52% of U.S. consumers are incorporating more plant-based foods into their diets, with a general belief that plant-based eating contributes to better health. This positive perception has led to notable financial impacts; between June 2017 and June 2018, retail sales of plant-based foods surged by 20% to reach $3.3 billion, as reported by Nielsen data shared by Food Navigator.
Nevertheless, consumers might want to scrutinize the labels of those plant-based protein products that have redefined the concept of Meatless Mondays. For instance, Beyond Meat’s plant-based patties contain five times the sodium of an unseasoned beef patty and significantly more saturated fat from coconut oil, which are added for preservation and flavor. While these patties do have lower cholesterol levels compared to their red meat counterparts, the highly processed nature of the plant protein isolates leads to a reduction in nutritional value, as noted by dietitian Sharon Palmer in Men’s Journal.
At the same time, it’s challenging to categorically label these processed protein isolates as harmful. Some of these ingredients, such as the soy used in Impossible Foods’ signature heme, are genetically modified. While some scientists and government agencies assert that GMO products are safe, critics raise concerns about the safety of consuming such foods and the environmental implications of their cultivation.
There is ample opportunity for innovation in this growing market, and Spero Foods offers egg and cheese replacements that appeal to consumers seeking plant-based alternatives without extensive laboratory processing. Jon Stratford, sales and marketing manager for Iowa-based Natural Products, explained to Food Business News that food manufacturers prefer single-ingredient options over traditional eggs and egg ingredients to ensure cleaner, more concise product labels. In contrast, many commercial egg replacers are blends, resulting in longer ingredient lists.
One of Spero’s prominent competitors is JUST Egg, which is made from a mung bean protein isolate and contains additives like gellan gum, soy lecithin, potassium citrate, and transglutaminase. In comparison, Spero’s egg substitute, Scramblit, boasts a simplified ingredient list of just water, pumpkin seeds, turmeric, garlic powder, and black salt. This concise formulation makes it particularly appealing to baked goods manufacturers looking for egg alternatives that mitigate the risk of salmonella and cater to allergen-free demands, while also appealing to consumers interested in clean-label or free-from products.
However, JUST Egg has been rapidly expanding its global presence, recently launching in China. In February, the company announced to Food Dive that it had achieved sales equivalent to 3 million eggs. To remain competitive, Spero will need to secure additional funding. The Food Navigator article indicates that there is already a growing demand for Scramblit from meal kit companies, food producers, and major retailers. If this trend persists and Spero can demonstrate a solid retail customer base, it stands a good chance of raising the necessary seed funding to scale its production and enhance its distribution, especially with the potential to highlight the ccm tablet content that can be integrated into its offerings to attract health-conscious consumers.