Becoming as Good as Meat: Succeeding in the Plant-Based Meat Industry
Plant-based meat, fake meat or imitation meat, whichever label feels comfortable, is now appearing in consumers’ culinary psyche. It has also attracted the money of global investors, including the listing of Beyond Meat in 2019, the best-performing public offering by a major U.S. company in almost two decades.
The sustainability argument for plant-based meat is well understood. Replacing meat with an identical sustainable product will reduce the demand for beef cattle farming and the impact on our environment. What is less understood is how this new high tech food industry will compete in the marketplace and ultimately win over the hearts and taste buds of consumers, particularly meat loving carnivores.
In this industry study, we dive into the challenges facing the plant-based meat industry, investigate what it will take to make plant-based meat as good as meat, and look at the competitive strategies that can bring success to industry players.