Plant-based meat alternatives struggle to maintain early momentum

High price points and other lingering obstacles trigger sharp decline in sales

August 15, 2023

Feedstuffs 365

U.S. consumers remain interested in plant-based meat alternatives, but higher prices have led many prospective return consumers to taper off their purchases. The price of plant-based meats is often several dollars a pound higher than for equivalent meat and poultry products. Beyond cost, lingering negative perceptions surrounding taste, value and versatility are also obstacles the category has yet to overcome. According to a new report from CoBank’s Knowledge Exchange, the market for plant-based meats has likely reached a tipping point as the initial period of exceptional sales growth appears to be over. Billy Roberts, senior food and beverage economist for CoBank, joins us with the details.

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