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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Plant-Based Alternatives Represent Two Percent of Supermarket Meat Sales

10/12/2021

According to Information Resources Inc. (IRI) based in Chicago, during 2020, plant-based alternatives to meat represented two percent of fresh and frozen sales in supermarket meat departments.  For the 26 weeks ending June 27th 2021, sales of meat alternatives totaled $1.4 billion, an increase of 14 percent over the corresponding first six months of 2020.  IRI determined that 20 percent of consumers purchased a plant based product at least “occasionally”.

 

Realizing forecasts of growth will however depend on the relative prices of plant-based and real meat and their quality attributes as perceived by consumers.  At the present time, alternatives to ground beef are more expensive than USDA-inspected product.  Enigmatically despite the differential at retail, it appears that manufacturers of plant-based meats are unprofitable as denoted by quarterly reports of public-quoted companies.


 
Copyright © 2021 Simon M. Shane