Are plant-based meat alternatives destined to fail?
Plant-based meat alternatives looked ready to conquer the world, but with sales falling, they will need to rethink their strategy for success.
“I’m not here to defend plant-based meat, but it’s important to look at it so we know how to react to consumer demand,” JP Frossard, vice president, consumer foods analyst, Rabobank, said at the 2023 Chicken Marketing Summit.
Plant-based is different than alternative proteins, Frossard said. He defines alternative proteins as cell-based, insect-based or precision fermentation. Plant-based are products that harness the power of plants – whole grain, whole plant, fruits and vegetables.