More Consumers Turn to Plant-Based Meats
The pandemic has caused disruption to the meat supply chain. Many manufacturers have had to close or idle meat processing plants as a result of virus outbreaks and worker shortages. This has driven up the price of meat and led to meat shortages in some areas. This could provide an opportunity for plant-based meat companies like Beyond Meat and Impossible Foods. As a result of higher meat prices, plant-based meat companies have been able to compete on price. Beyond Meat is planning to introduce lower priced bulk value packs to retailers who are struggling with shortages of animal proteins.
Several factors have influenced the recent trend towards plant based meats. These include meat shortages and concerns over virus outbreaks in meat processing plants as well as environmental concerns and a desire to eat healthier. Additionally, many restaurants chains had begun to offer plant based burgers prior to the pandemic which may have helped to make consumers more open to the idea of eating plant-based meat at home. Although some consumers may have turned to plant-based meats out of necessity, analysts predict that demand will continue post COVID-19.
We have included a selection of our most popular market research on plant-based meat below.
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