Plain English with Derek Thompson The Spectacular Rise and Fall of Fake Meat in America
Feb 10, 2023
In this engaging discussion, Deena Shanker, a Bloomberg reporter specializing in the food industry, delves into the rise and fall of fake meat in America. She highlights the paradox of increasing meat consumption despite the initial surge in plant-based products like Impossible and Beyond Meat. The conversation explores consumer misconceptions about health benefits, the impact of the pandemic, and the ongoing challenges of taste and price. Shanker also considers the future of cellular meat as an alternative and its viability in a competitive market.
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Beyond Meat's Founding
- Ethan Brown founded Beyond Meat in 2009 with a revolutionary idea.
- He aimed to mimic animal meat using plants, creating a product that resembled meat in look, smell, taste, and cooking method.
Different Approaches to Plant-Based Meat
- Beyond Meat and Impossible Foods, while both aiming to create plant-based meat alternatives, employed different approaches.
- Beyond Meat focused on breaking down and reassembling plant components, while Impossible Foods emphasized using heme, an iron-based compound found in beef.
Beyond Meat's IPO Success
- Beyond Meat's 2019 IPO was a massive success, being the most successful IPO in a decade since the 2008 financial crisis.
- This success stemmed from a combination of enthusiasm for its mission and significant commercial victories.