With the launch of its venture fund in 2016, Tyson has been looking to pivot from a meat producer to a more broadly protein-friendly brand. We take a look at what Tyson's Q1'18 results mean for the company’s bid to disrupt the protein industry.
- Tyson now sees itself as a protein innovator, not just a meat company. Though pork sales fell, beef, chicken, and prepared food sales rose in Q1’18 indicating that the global demand for protein is higher than ever. According to executives, Tyson seeks to create a modern food company focused on protein while also delivering innovative products from the fastest-growing food categories.
- Tyson’s supply chain will be crucial for meeting the global demand for protein. With the increase in global demand for protein, Tyson executives noted its global offices network and build-out of its various meat supply chain segments will be crucial in meeting this demand.
- Tyson Dinner Kit offers a meal solution to broaden the frozen chicken product line. Launched in April 2018, Tyson Dinner Kits consist of frozen chicken, precut vegetables, a starch, and a sauce. Tyson executives also noted upcoming transitions to new packaging based on an upcoming Tyson brand refresh.
