Catalyst with Shayle Kann
Reviving the stagnant plant based meat market
Sep 28, 2023
The podcast discusses the decline of plant-based meats after a successful period in 2020, exploring factors such as sales, inflation, and limited penetration. It compares the plant-based beverage category to plant-based meats and highlights positive growth potential in other markets. The episode also covers improvements in taste, health, and price that could revive the industry.
40:49
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Quick takeaways
- The decline in sales of plant-based meats can be attributed to factors such as health concerns, price premiums, and limited product innovation, particularly beyond ground meat products.
- Consumer attitudes towards plant-based meat vary, with one-third of consumers expressing disinterest due to perceived health concerns and the need for price parity with animal meat.
Deep dives
Current State of the Plant-Based Meat Market
The plant-based meat market, led by companies like Impossible Foods and Beyond Meat, initially showed strong growth and market penetration. However, sales have been declining, and the market has faced challenges in recent years. The decline in sales has affected the share prices of companies like Beyond Meat. Funding for the next generation of alternative meat companies has also decreased. The market's growth has been impacted by factors such as health concerns, price premiums, and limited product innovation beyond ground meat products. Overall, the market is still in the early stages of adoption, and there is potential for long-term growth.
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