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How is #plantbased meat going to compete with conventional meat on price? (A thread inspired by a great new @voxdotcom article from @KelseyTuoc) https://www.vox.com/future-perfect/21366607/beyond-impossible-plant-based-meat-factory-farming
The food industry is making good progress towards #plantbased meat that is more wallet-friendly to consumers— @open_phil ’s @Lewis_Bollard estimates that @BeyondMeat’s cost of production has fallen from $4.50 to $3.50 in the last year.
. @ImpossibleFoods cut their prices on #plantbased meat 15% earlier this year.
And @BeyondMeat's Cookout Classic pack released this summer shaved the price per patty by about half compared to its standard Beyond Burger pack.
At some chains, like @dunkindonuts, @BeyondMeat’s items like the sausage sandwich is sold at an equal price point 
to the conventional sausage sandwich (wow!).
to the conventional sausage sandwich (wow!).
Meanwhile, the frozen section has long been closer to parity on per-patty costs—a 4-pack of @BOCAMeatless at my local @Walmart costs $2.38.
As the #plantbased industry scales, there will be more opportunities for companies to compete with conventional meat on price, including purchasing 1) ingredients and 2) equipment at scale and 3) improving distribution networks to minimize transportation costs.
“To democratize our brand, we’ve got to bring the price down.”—Chuck Muth of @BeyondMeat
“We knew that if we had the best product at the same cost then consumers would vote with their stomachs.”—David Lee of @ImpossibleFoods
“It really just boils down to scale & optimization...the animal ag industry has a multi-decade head start...as the quantity produced goes up, we’ll be able to drive up operational efficiencies.”— @ZakWeston of @GoodFoodInst
The fact that the cheapest product of each #plantbased brand available at @Walmart is more expensive than the cheapest product of each meat brand presents an ENORMOUS opportunity given demonstrated consumer interest in #plantbased (see graphic at: https://mailchi.mp/c2768b122d5b/how-to-lower-the-price-of-plant-based-meat)
Streamlining the production process is something @RebellyousFoods is actively pursuing with its #plantbased chicken nugget line. https://www.fooddive.com/news/plant-based-rebellyous-foods-raises-6m/575854/ @FoodDive
There are additional opportunities in plant ag by sourcing low-cost #plantbased proteins and improving costs for novel plant proteins.
Want further reading on lowering the price of #plantbased meat? Check out @Lewis_Bollard’s fantastic newsletter piece: https://mailchi.mp/c2768b122d5b/how-to-lower-the-price-of-plant-based-meat
@open_phil
@open_phil
And don’t miss @GoodFoodInst’s post from @LizSpecht on why #plantbased meat will ultimately be less expensive than conventional meat: https://www.gfi.org/plant-based-meat-will-be-less-expensive
