US food multinational Campbell Soup Company is joining the Plant Based Foods Association (PBFA) – the first major brand to do so – in a move that will be watched carefully by food industry analysts.
Campbell has been steadily increasing the amount of vegetables and whole grains in its portfolio and has accelerated innovation efforts to bring more packaged fresh and refrigerated products to the retail perimeter with brands such as Bolthouse Farms, 1915 Organic and Garden Fresh Gourmet. Recently, Campbell launched a new line of pea protein-based milks under its Bolthouse Farms brand.
According to recent data from Nielsen, the US plant-based foods sector has grown more than 8% in the past year. According to Nielsen data, the plant-based milk category is up 3 percent since last year, outpacing sales of cow’s milk over the same period.
“We are thrilled to have Campbell join our membership,” said Michele Simon, executive director of The Plant Based Foods Association. “With their leadership, the plant-based foods sector is certain to grow even faster. We look forward to a long and productive partnership.”
Ed Carolan, president, Campbell Fresh, added: “We are committed to providing our consumers with food choices that meet their nutrition, well-being and lifestyle needs. Working together with the Plant Based Foods Association, we can advance our shared goal of bringing more plant-based foods to consumers.”
Reporting on the development, US financial website Bloomberg says Campbell is signing up to the plant-based food lobby group for one simple reason – “to sell more products” in a category that it recognises offer real growth potential. And it seems unlikely that Campbell’s will drop its iconic Cream of Chicken or Beef Broth products anytime soon.
Picture: How the move was reported by Bloomberg