Fake meat is a market failure


from WND:

Investors, consumers show growing distaste for faux products

A growing list of potentially intractable problems confronts the alternative meat industry, which includes both plant-based substitutes and cultured “cell-grown” meats. Consumers have not managed to swallow the fake taste (beet juice may be a sad substitute for beef blood), the Beverly Hills pricing, or the growing awareness that the counterfeits are highly processed and largely dependent on monocultured plant crops such as corn, soybeans, and wheat that present their own environmental challenges. Much as they have in the EV and solar panel markets, buyers are waking up to a triple-shill: Fake meat “alternatives” seem to be overpriced, unpalatable, and pollute the planet despite claims of climate rescue.

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Launched as eco-friendly, healthful alternatives to the horrors of industrial animal processing, fake meat ventures have attracted billions of dollars from investors to match the marketing buzz. Businesses eager to tap the anticipated goldmine have crafted a plethora of faux foodstuffs to fuel the hype. However, the market for fake/alternative meats has been declining sharply and will likely witness more decreases in 2024, including attrition as small players are gobbled up by the better-capitalized.

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