Plant-based meat manufacturer Beyond Meat has revealed plans to make its vegan protein cheaper than animal products.
The brand — popular with vegans and vegetarians, but meat-eaters in particular — plans to invest in the plant protein supply chain in order to create products that rival its meaty counterparts when it comes to price.
Founder and CEO Ethan Brown told Forbes, “We have an ambition to be part of the generation that separates meat from animals,” adding “[t]here’s no reason [plant based protein] shouldn’t be cheaper than meat.”
The company recently released its new Beyond Beef Ground Mince at the Natural Products Expo West in Anaheim, CA. The move marked the completion of one of the company’s main goals since launching its Beyond Burger, a plant-based “bleeding” patty in May 2016.
Despite claims from the meat industry that plant-based options don’t contain the same nutrients as animal protein, Beyond Meat has shown that its products provide the same, if not more. Its Beyond Beef Ground Mince contains 20 grams of protein per serving – more than beef – and 25 percent less saturated fat at less than 6 grams per serving.
Beyond Beef is also gluten-free, soy-free, made from non-GMO ingredients, and free from the antibiotics and hormones often found in factory-farmed meat products.
Brown said in a statement “We’ve long had our eye on creating a product that enables consumers to enjoy all the benefits and versatility of ground beef while tapping into the human health, environmental, and animal welfare benefits of plant-based foods.”
The Rise of Plant-Based Meat
Beyond Meat isn’t the only company providing consumers with healthy, plant-based options. U.S.-based Impossible Foods is also on a mission to transform the food industry, with its meaty “bleeding” Impossible Burgers, similar to those by Beyond Meat.
A report published last year by New Zealand’s Ministry for Primary Industries (MPI) said 80 percent of people who have eaten an Impossible Burger enjoyed it, and 30 percent said they would eat it again.
It said “[t]his product is at the forefront of companies that are innovating and significantly improving meat replacement products.” It recognized that the rise in popularity of plant-based meat could be due to its reduced environmental impact.
According to website Mercy For Animals, in filing its IPO, Beyond Meat became the first vegan meat company to be a publicly traded business.