The challenge
A €10B+ multinational food ingredient company (Food Co*) with a division in plant-based meat analogues (PBMA) saw a growth opportunity in Europe’s rapidly expanding PBMA market, and the management team was looking for regional expertise.
The Managing Director of Food Co’s plant-based business unit engaged BGP to evaluate “where to play” and “how to win” in Europe. As Food Co approached internal resource allocation discussions for the upcoming year, the Managing Director planned to use BGP’s strategy work to justify investments in her business unit.
approach
To answer the two questions “Where to play?” and “How to win?”, we completed a due diligence of the client’s internal capabilities and market opportunities, and explored the competitive landscape, benchmarking competitors’ performance per product and customer type.
We focused on 5 key countries to assess the total addressable market within a 5-year time horizon. Finally, we set the ambition target and unique selling proposition (USP) for the plant-based meat division.
From the engagement
Figure 1: Retail market breakdown (a similar view was created for the out-of-home channel).
Figure 2: Competitor benchmarking on key purchasing criteria.
The impact
The project enabled the Managing Director to secure the required resources for the business group despite ongoing company reorganizations.
Quick-service restaurants and private-label retail identified as the key channels to reach the €250M revenue target.
A “must-win” list of key customers, key product categories per country, and the capabilities and budget needed.
At the end of the project, Food Co had clarity on their competitive performance and was ready to embark on the journey to grow their business unit.
*The client’s name has been changed to protect their confidentiality.
Explore our Strategy case studies
Our consulting team based out of Europe and 2500+ expert team located in 60+ countries cover the full AgriFood Tech value chain globally.
