The Rise of Plant Based Meat

The demand for alternative meat options has substantially risen over the past several years. So much so in fact, CNBC reported the “worldwide search interest for the term ‘plant-based meat’ skyrocketed in early 2019 months before Beyond Meat’s initial public offering”. Furthermore, the Good Food Institute, the total plant-based market is currently valued at $7 billion. It’s safe to assume the demand for plant-based meat isn’t going away any time soon.

As consumer demands rise, companies are rallying together to come up with new, healthy options— with one challenge: taste.

Consumers view plant-based meat as a healthier alternative for traditional burgers, but aren’t interested in compromising the fatty, salty taste of a real meat patty. Forbes reports that “​​the most successful plant-based companies know this, and they entice meat-eaters with like-for-like taste and texture, successfully mimicking the salty, fatty taste of their favorite fast food, meat-based staples”.

Companies are out to prove you can enjoy a healthier, plant-based burger without fully compromising the taste of it. For example, Dr. Praeger’s Sensible Foods recently launched a new product line of cauliflower burgers to meet consumer demands. They created a high-protein, artificial ingredient free burger alternative that pairs good taste with health, a feat which has been easy for the company according to Dr. Praeger’s son. He says, “we stay true to our veggie roots by sourcing delicious, clean ingredients that do not compromise on taste, but rather enhance it”.

There are a slew of companies marching to the same beat of Dr. Praeger’s: Bolthouse Farms, Impossible Food, Beyond Meat, Actual Veggies, and more are working to create a product that meets the consumer demand for meatless meat.

The plant-based industry continues to grow and innovate as consumer demand rises. New and old companies have figured out how to create plant-based meat that overcomes the hurdle of taste. With the option of a healthier alternative that also tastes great, the demand for plant-based meat doesn’t seem to be waning any time soon.

What does this look like for the future of companies like ours, restaurants, and stores? We believe we’ll begin to see more and more businesses in the food industry adapt to this growing need and tap into the plant-based market.