Meet the Meatless: Demand for New Generation Plant-Based Meat Alternatives.

Area of Science:

• Agricultural Economics
• Consumer Behavior
• Food Science

Background:

• Plant-based meat alternatives (PBMA) mimic sensory meat attributes, attracting non-vegetarian consumers.
• The market for PBMA has grown substantially, necessitating an analysis of its economic relationship with traditional meats.

Purpose of the Study:

• To analyze the demand for PBMA in relation to various fresh meats using market expenditure data.
• To understand the economic complementarity and substitutability between PBMA and different meat categories.

Main Methods:

• Analysis of market expenditure data from 2017 to 2020.
• Econometric evaluation of demand relationships between PBMA and beef, pork, chicken, turkey, and fish.

Main Results:

• PBMA were found to be complementary goods to beef and pork.
• PBMA acted as substitute goods for chicken, turkey, and fish.
• Significant sales growth was observed for PBMA, though market share remains smaller than traditional meats.

Conclusions:

• The findings provide insights into consumer demand patterns for PBMA and traditional meats.
• Results can inform targeted marketing strategies and policy development for both PBMA and the fresh meat sector.
• Understanding these relationships is crucial for navigating the evolving food market landscape.