Can Plant-Based Meat Be a Permanent Competitor to Animal Meat

Key Points:

• The plant-based meat market is fast growing, but is still only a tiny fraction of total volume of meat sold in the United States.
• The real competition for plant-based meat isn’t other plant-based meat companies, but with animal meat.
• Plant-based meat competition strategies against regular meat could be similar to plant-based dairy versus regular dairy.

Commentary:

The plant based meat market is starting to become more popular as more players are entering the game. According to a report from Allied Research, the industry is expected to increase to over $8 billion by 2026; that’s nearly double what its value was in 2017. We asked Paul Shapiro, CEO of the Better Meat Company, if those investments could create repeat results for the industry, and sourced him for insights on which competitive strategies will give alternative meat the cutting edge.