Fake-Meat Startups Rake in Cash Amid Food Supply Worries

[left-of-center2012]

With meat-processing workers falling victim to the coronavirus, shuttering plants and slowing supply, Americans are starting to see poorly stocked aisles where once beef and pork were plentiful. At the same time, the link between industrial meat production and deadly human viruses has become more widely understood. The global crisis, in other words, is turning into a big opportunity for the plant-based protein sector.

Beyond Meat, one of the bigger names in food technology, saw its shares jump 49% last month. Meanwhile, venture capitalists have been pouring money into smaller companies, some focused on lab-grown meat analogues as well as plant-based substitutes. In mid-April, U.S. sales of these products were double that of the same period last year.

The big meat processors—Tyson, Smithfield, Hormel Foods—were already investing in plant-based alternatives when the pandemic arrived. Even as the Trump administration tries to keep traditional U.S. meat plants open, the pandemic is providing a tremendous boost to consumer interest in alternative products.

The annual retail food market grew only 2.2% in 2019, according to industry trade groups. By comparison, plant-based foods were up 11.4%, as estimated by the Plant Based Foods Association. Plant-based meats saw 18% retail growth, with refrigerated versions like Impossible Foods burgers, Beyond Meat sausages and Tofurkey deli slices making up the majority of the increase.

https://finance.yahoo.com/news/fake-meat-startups-rake-cash-070036950.html

[flibbitygiblets]

1. This is an opportunity to decrease animal product consumption. Better for humans, animals, Earth!

While this pandemic is tragic in many ways, there are some silver linings, and this could be a big one.

Instead of lamenting the lack of animal proteins, why not embrace change and take advantage of an opportunity to make healthier choices for our bodies and for the planet, while saving money in the process?

It is easier than it sounds. I used to love cow's milk. Now I strongly prefer flax, cashew or pea milk. I used to eat lots of beef and chicken, and few vegetables. A meal without meat seemed to be missing the "main event". But I've learned to use things like mushrooms, miso, tomatoes, lentils, barley and other whole, unprocessed plants to make delicious food that really satisfies and is loaded with flavor. (I also used to struggle with belly fat, and my weight would fluctuate--no longer true since I changed my eating habits.)

I got started on this plant-based journey by reading a book called "How not to die" by Dr. Michael Gregor. Then I bought the "How not to die cookbook", and haven't looked back. Full disclosure: I aim for about 90% plant-based diet, but I've found that I enjoy animal products significantly less these days.