Hormel is also investigating adding alternative protein products. The Austin, Minn., food maker is developing a vegan pizza topping and other plant-based products to capitalize on apparent demand for non-meat foods.
"The consumer seems to be speaking about having plant-based as a choice," Jim Snee, chief executive of Hormel, said at the 2019 dbAccess Global Consumer Conference in Paris, earlier this month.
Snee told analysts and investors that there was “something that is certainly on our minds, like it is everyone else, and there is a lot of work happening both in the market and behind the scenes.”
He pointed to the rise of Beyond Meat, the California-based maker of plant-based meat-alternative products.
Tom Day, head of refrigerated foods at Hormel, added the company was excited about creating blended products—ones that blend meat and plant proteins, but also taste good. One example is the Applegate Blend Burger.
Hormel is also expanding its food-service business with restaurants, including the recently launched Fuse Burger—made from ground turkey and brown rice.