Alt-meat demand surging will reshape protein choices

Subject

Alternative meat demand is surging and supply, distribution and regulation is running to catch up.

Significance

The share price of the company Beyond Meat rose by 163% in its initial public offering (IPO) on May 2, the best performance by any US IPO in more than ten years. Moreover, unlike some debutantes, the price has kept rising, reaching a market capitalisation of 9 billion dollars. Alternative meat (alt-meat) includes manufacturing 'meat' from plant based products and engineering it scientifically from animal muscle.

Impacts

• The meat sector will fight to maintain the strict definition and use of the term ‘meat’ for marketing uses and in retail outlets.
• Alt-meat products are perceived as healthier, but regulatory review and research will be under pressure to back up these claims.
• Reducing animal use by the food sector will require new regulation and a shift in attitude and cultural norms in developing nations.
• Alt-meat taste and texture varies but as this improves, advertising will focus on animal welfare, health and environmental credentials.
• Meat is the largest employer in US agriculture; if less farm-reared meat is demanded globally, this will alter employment and skill needs.