Beyond Meat Predicted to be Cheaper Than Animal Meat By 2025
Changing consumer habits are set to lower the price of plant based meats.
Credit: Beyond Meat
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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