"In 2019, the plant-based meat industry experienced explosive growth. Investors poured hundreds of millions of dollars into companies like Beyond Meat and Impossible Foods. Fast-food giants like McDonald's and Burger King rolled out plant-based burgers nationwide. Even celebrities like Snoop Dogg and Katy Perry backed the movement."
"Since the early 2020s, plant-based meat sales have cooled. Prices remain high. Critics question how ultra-processed these products are. And some meat industry groups have pushed back with advertising campaigns and lobbying efforts."
The plant-based meat industry surged in 2019 with substantial investor funding flowing into companies like Beyond Meat and Impossible Foods. Major fast-food chains including McDonald's and Burger King introduced plant-based options nationwide, while celebrities endorsed the movement. However, this momentum declined starting in the early 2020s. Plant-based meat sales slowed significantly, prices remained elevated, and consumer skepticism grew regarding the ultra-processed nature of these products. Additionally, the traditional meat industry launched counter-campaigns through advertising and lobbying efforts to challenge plant-based alternatives' market expansion.
Read at Business Insider
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