Price Parity: 6 Steps to Make Plant-Based Meats Cheaper Than Conventional Meat

The article discusses the challenges faced by the plant-based meat industry in reaching price parity with conventional meat. Studies have shown that plant-based meats are on average 67% more expensive than animal meat. Despite advancements in taste and texture, cost remains a key barrier for consumers. The article presents six steps outlined in a report to make plant-based meats cheaper: focusing on flavour profiles, leveraging enzymes and natural properties, extending shelf life, diversifying protein types, valorizing sidestreams to reduce food waste, and sourcing local and cheaper plant protein alternatives. By implementing these solutions, the plant-based meat industry may be able to reach price parity with conventional meat in the near future.

Overall, the article highlights the key role that cost plays in consumer adoption of plant-based meats and provides actionable steps for the industry to address this challenge. By focusing on flavor, using natural properties and enzymes, prolonging shelf life, diversifying protein types, reducing food waste, and sourcing local plant proteins, the industry may be able to make plant-based meat products more cost-effective and competitive with conventional meat.