Senior Scientist at food nonprofit Good Food Institute, Liz Specht, compiled a report that found plant-based meat will soon be less expensive than animal-based meat.
According to Veg News, in her report she explains the obstacles that plant-based food producers confront in comparison to their meat-based counterparts. Plant-based producers are now charging what they must to meet demand.
“Lowering prices would just lower their revenue, which would, in turn, hurt their ability to scale and meet demand,” Specht said.
Now, plant-based food companies can only handle smaller scale production, but Specht thinks this will soon change.
“There are major and minor elements of the manufacturing facility and production process design that make sense only for production volumes 10-fold or 100-fold larger than the capacity of the existing plant-based meat facilities, and these changes can facilitate radical increases in efficiency and thus decreases in cost,” Specht said.
Many new vegan companies are also funded and expected to create new technologies. Yet, “once plant-based meat achieves sufficient market penetration to tap into these emerging opportunities to optimize raw materials and make production more efficient, the industry will enter a bright new era of accessibility and affordability that will benefit both consumers and producers.”
“Industrial animal agriculture has been operating and optimizing at a global scale for decades. Yet it is still inherently more efficient to make meat directly from plants rather than feeding our crops to animals and then eating a part of the animal,” Specht said. “It’s all but inevitable that the plant-based meat industry will eventually be cost-competitive with conventional meat. In fact, this tipping point may hit relatively soon, given the recent flurry of activity reflecting new production capacity among the existing plant-based meat companies and the involvement of new entrants with massive resources.”
Image credit: Emily Allen / CC-BY-2.0 / Flickr