Emerging Trends in the Food and Beverage Industry: A Deep Dive into Plant-Based Innovations with Thryve

As the world’s largest food and beverage expo, Gulfood has always been considered a barometer for the latest industry trends. One of the most compelling shifts in recent years has been the rise of plant-based products - a movement that shows no signs of slowing down.

This year, all eyes are on Thryve, a brand under the IFFCO Group that is making waves in the plant-based sector, particularly in the UAE. In an exclusive interview with Andrey Dribny , IFFCO Group's Managing Director (Culinary), we explore the emerging trends in the food and beverage industry and how Thryve is leading the charge in plant-based innovation.

The Global Surge in Plant-Based Products

Plant-based products have been gaining traction worldwide, and the trend is expected to continue its upward trajectory. Driven by consumer demand for sustainable, ethical, and healthier food options, the global plant-based meat market is set to reach over $35 billion by 2027, with a compound annual growth rate (CAGR) of around 20% from 2022 to 2027. This growth is mirrored in the UAE, where the population increasingly embraces plant-based diets. The UAE government’s initiatives to promote a plant-based future further fuel this trend, making the region a fertile ground for plant-based innovations.

Innovation at the Heart of Thryve’s Strategy

Innovation is the cornerstone of Thryve’s approach to plant-based products. At the heart of their strategy is to create plant-based meats that mimic the taste and texture of traditional meat and maintain its nutritional benefits. Thryve invests heavily in advanced food science and technology, constantly evolving to explore alternative protein sources. This commitment to innovation allows Thryve to stay ahead of the curve, creating unique flavour profiles that cater to diverse consumer preferences.

Shifting Consumer Preferences

There has been a noticeable shift in consumer preferences towards plant-based diets, with more people actively seeking plant-based food while reducing their meat consumption. This shift is particularly evident among Gen Z and Millennials, who are in charge of finding flavoursome, plant-powered protein options that are both environmentally friendly and indulgent. Today’s consumers are looking for guilt-free indulgence, and Thryve’s plant-based products are designed to meet this demand, offering delicious, sustainable options that satisfy without compromise.

Sustainability as a Core Value

Sustainability is not just a buzzword for Thryve - it’s a core value. The company implements sustainable practices throughout its entire value chain, from sourcing regenerative proteins to using clean, energy-efficient production facilities. Thryve’s packaging is designed to be recyclable or compostable, and the company optimises its distribution networks to minimise its carbon footprint. These efforts have not gone unnoticed by consumers, particularly the growing segment of eco-conscious shoppers who prioritise sustainability in their purchasing decisions. Thryve’s commitment to environmental responsibility has helped build a loyal customer base that values its products' quality and the company’s broader sustainability efforts.

Overcoming Challenges and Seizing Opportunities

The plant-based meat sector is not without its challenges. One of the biggest hurdles is replicating the sensory experience of traditional meat. However, Thryve’s position as the region's first 100% plant-based meat production facility gives it a head start. By tailoring its products to the specific needs and preferences of different consumer groups, including health-conscious individuals and flexitarians, Thryve is therefore well-positioned to overcome these challenges. The brand’s focus on creating recipes that reflect traditional Middle Eastern tastes also provides a unique growth opportunity, particularly in the culturally diverse GCC region.

A Recipe for Sustainability

As plant-based products continue to rise in popularity, Thryve stands out as a leader in innovation and sustainability within the food and beverage industry. The brand’s commitment to creating high-quality, plant-based meats that cater to a wide range of consumer preferences while also prioritising sustainability positions it as a key player in the industry's ongoing evolution.