Beyond Meat Might Wreak Havoc On Meat Industry With Latest Slash In Prices
Beyond meat started with a simple question to itself– why do we need animals to derive meat, and why can’t it be crafted directly from plants? And the answer, say of instance, was the outgrowing sell of vegan Beyond Burger from the shelves of Californian supermarkets, last year. Now then, Beyond Meat plans to reduce prices of their plant-based meat (sounds like an oxymoron). What could be the implications? Read more about it here.
The $550 Million Story in Short
The US consumed nearly 13 billion Burgers last year, said CNBC Make it. This estimation is in contrast to the adverse implications red-meat has for the environment and the detrimental it is to human health. Despite the ills associated with meat-eating, people love the burger. It has been an American classic and an integral part of the Sates ever-since. Beyond Meat came into the tug-of-war (of favoring meat vs. environmental and health implications) neutralizing the game by introducing a ‘vegan meat’ that does it all (taste, look and even bleeding) would do minus the harmful effects.
Soon after its launch in 2016 May last year, the vegan burger patties found their way into thousands of supermarkets across the US, reported the CNBC. Today, Beyond Meat is reportedly more than half a billion dollar brand. And what is more brag-worthy- names like Bill Gates, Leonardo DiCaprio, former McD’ CEO Don Thomson and Tyson Foods (USA’s largest meat producer) are in the list of its investors.
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No-Meat a Real Meat’s Rival?
Ninety-three percent of buyers of Beyond Meat’s product are meat eaters, according to Beyond Meat Founder- Ethan Brown, reported Vegan News. Beyond Meat, although was able to tickle fancy of millions of meat eaters across the US with its bio-engineered plant-based meat that looks, feels, tastes and even bleeds like real-meat, however, lags in the price competition with organic beef. For instance, if pound by pound calculations are to be made, Beyond Meat’s plant-based offering is 71% costlier (which retails at $5.99/ two patties) than organic grass-fed beef.
But all these might change. Generally, the ingredients that go into Beyond Meat products (like rice protein and pea) can be altered using other sources that’ll aid in reducing the prices, said Ethan Brown while speaking to Forbes.
Brown said there are thousands of molecules fetch meat its meaty taste and they’re upgrading in terms of their knowledge of which molecule is responsible for which flavor. While speaking to Forbes, he also mentioned- “It’s easy to get a bunch of plant protein and mash it together and give it to the consumer, but if you want to really tap into that familiar experience, you have to focus on the texture of the protein itself. There are different structures of protein as they bite into it.”
“There’s no reason this shouldn’t be cheaper than meat, and to get there we need to make investments in the supply chain.”
With One-third Americans reportedly considering themselves flexitarians, a low-cost alternative to original meat should theoretically mean a surge in the plant-based meat consumption and thereby growth in its overall market.
Amidst environmental/health issues associated with meat-eating and disappointment with plant-based dietary choices that are recently taking place, dynamics are repulsive. Whereas growth of plant-based meat preference is not to halt anytime soon, what are your views on the scenario- ‘meat’ vs. meat? Let us know in the comments below.