Beyond Meat Predicted to be Cheaper Than Animal Meat By 2025
Changing consumer habits are set to lower the price of plant based meats.
Saudi Arabian vegan Prince Khaled Alwaleed bin Talal predicts that plant-based products from Beyond Meat will be cheaper than animal meat by 2025.
Prince Khaled bin Alwaleed is a prominent vegan advocate and the founder of KBW Ventures, an investment firm that funds companies working to create positive change for the planet. Speaking with CNBC, the Prince said:
“We’re really focused on companies that solve problems that the world is going through right now — one of the biggest problems we’re facing right now is global warming”. “The third-most impactful industry is the animal agriculture industry. And we have to find a better way to source protein for people.”
The popular Beyond Meat brand joins other ventures for the Prince, who also invests in similar companies like biotech start-up TurtleTree Labs and plant-based Bond Pet Foods. The Prince explains:
“slowly but surely, what’s going to happen with Beyond Meat, etc., what’s going to happen with (Californian cell-based meat company) Memphis Meats and others, their price point is going to go dramatically down — and I’m betting that Beyond Meat will be cheaper than traditional meat by 2025.”
The popularity of plant-based meats has soared recently, with sales reaching $946.6 million in 2019 - 10.2 percent higher than the previous year. This rising popularity for vegan food has seen investors flocking to invest in plant-based brands.
With more and more investors supporting plant-based foods, products like Beyond Meat are changing the way we eat. According to a study by the data analytics company, Gallup, over a third of meat-reducing Americans say they buy and consume meat alternatives such as plant-based burgers and sausages.
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