“It’s crazy, there are companies like in a one-car garage to large companies that see the markets changing by the attitude of the millennials,” said Henk Hoogencamp, a board member and adviser for several food companies, including the alternative dairy protein startup, Perfect Day. “Some of them will succeed, and most of them will fail.”
Not every vegetable-based burger has succeeded. Wendy’s Co. a few years back tried selling a black-bean burger, but it never really took off. There was substantial customer interest in some areas, but not in others, said spokeswoman Heidi Schauer.
Big food companies are “setting up investment arms and emerging company areas, but it’s too little, too late, and they’re still trying to catch up with the curve,” said Lou Biscotti, national food and beverage practice leader for Marcum LLP, an accounting firm.
This article was provided by Bloomberg News.