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Plant-Based Meat Boomed. Here Comes the Bust
Apr 23, 2024
Exploring the challenges and decline in the plant-based meat industry in the US, with companies facing pricing, taste, and competition issues. Advancements in plant-based meats by companies like Impossible Foods and Beyond Meat are discussed, highlighting the importance of the plant-based movement in reducing climate impact of diets.
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Quick takeaways
- Sales of vegan meat are declining due to high prices and taste concerns.
- Plant-based dairy products, especially milk, are thriving despite meat sales slowdown.
Deep dives
Plant-Based Meat Industry's Growth and Challenges
The plant-based meat industry saw substantial growth in recent years due to disruptions in conventional meat supply chains and increased consumer interest. However, a new report indicates a slowdown in enthusiasm for plant-based products, with sales of vegan meat and seafood declining. One major challenge faced by the industry is the higher prices of plant-based alternatives compared to traditional meat products, along with consumer perceptions of lackluster taste and texture in plant-based options.
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