Will the future of meat be animal, vegetable, or lab-born?
The growth of the plant-based meat sector started to take hold a decade back. Thanks to rapidly increasing sales, even traditional meat companies—those of the animal protein world—want in on the game. But as the sector matures, many people are beginning to ask tougher questions about the long-term potential of the trend, the nutritional value of the products, and whether faux meat production can really help reduce the harm traditional meat production causes the environment.
While companies that produce plant-based meat substitutes are pushing money into telling the public about the benefits of their products, the data behind the environmental and long-term health impacts of the products are just beginning to trickle in.
The Good Food Institute reports that the current retail market for plant-based foods is valued at $5 billion. In 2019, plant-based meats accounted for $939 million of those billions, a 38% jump from 2017.
And according to IRI, 14% of U.S. households are buying plant-based meat, driven primarily by growth in the refrigerated segment.
Still, plant-based meats make up only 1% of all dollar sales of total retail meat, according to the Good Food Institute.