by Megan RichardsonFebruary 13, 2022 C.E.
According to the Good Food Institute, plant-based meat is projected to reach a similar price point as animal meat by 2023. Price is the second most important factor in purchasing a plant-based product so the price of these products needs to drop for them to gain wider market share, as VegNews states.
Other alternative proteins will also reach price points similar to animal meat in the near future. By 2025, proteins from microorganisms like fungi, yeast, and single-celled algae will reach price parity. Alternative proteins grown directly from animal cells will reach a similar price point by 2032.
The drop in price for alternative proteins comes at a time when animal meat is becoming more expensive. These increased prices are due to many different factors including higher input costs, labor shortages, and supply chain interruptions. While animal meat has gotten more expensive, alternative meats are continuing to become cheaper with a more efficient supply chain, decreased costs to the manufacturer, and larger scale production.
Alternative proteins becoming more accessible is not only a win for animal rights, but a critical milestone in lowering carbon emissions. Plant-based foods on average produce 10 to 50 times less carbon than animal products.
Era: Today (2017 C.E. - 2022 C.E.)
Year: 2022 C.E.
Topic: Animal rights & well-being, Climate crisis, and Food & diet
Actor Type: Business and Civil society
Institution: Good Food Institute