The pandemic has led to a drop in prices for plant-based alternatives

The pandemic has not only not cooled the trend to find sources of plant-based protein, but has led to a sharp increase in supply and falling prices for products.

The publication notes that in the pre-COVID-19 pandemic period , plant-based meats attracted celebrity investors, product companies held record-breaking IPOs, attracted high-profile chefs who turned pea protein and soy into a savory, defiant delicacy.

At the very beginning of the pandemic, experts set the market on gloomy expectations, as the catering sector was closed, and plant-based MEAT lost its best distribution channel. However, the fears were not justified.

The pandemic has upended pricing formulas for both traditional meats and plant-based proteins, boosting the competitiveness of alt-meats in the grocery store much faster than any expert could have predicted.

In the past, plant-based protein manufacturers created a ton of hype and a halo of righteousness for health-conscious and environmentally conscious consumers. But this is not necessary today, when, in the face of a sharp increase in food prices, retail prices for beef and pork in the United States are shocking, writes The Washington Post.

Problems in the supply chain and disease outbreaks in meat processing plants have led to increases in meat prices that far outpace food prices in general. At the same time, the cost of plant proteins is declining, leading to lower costs for soy and pea "meat", "dairy" products and "eggs" much faster than expected.

A pound of minced meat (450 grams) today costs about $5.70 (~410 rubles). Beef prices, up 3.3 percent from a year ago, mean ground beef could cost anywhere from $4.10 to $6. Meanwhile, IMPOSSIBLE FOODS (a leading plant-based protein maker) has cut prices twice in its restaurants over the past year, and in February the company cut retail prices by 20 percent, bringing the price of two quarter-pound patties down to 5.49 DOLLAR.

Impossible Foods President Dennis Woodside said in an email that the company plans to continue cutting prices going forward.

In 2020, there were 112 new "meat", "egg" and "dairy" brands entering the US plant-based alternative market, representing about $3.1 billion in investment, according to the Good Food Institute. In addition, research firm Datassential noted a 118% increase in plant-based alternatives in restaurant menus and food delivery services in 2020.

The share of plant-based meat in the total production and sale of beef is low - both in the world and in the US, where it is less than 1%. However, interest in it continues to grow. Including against the backdrop of the covid-19 pandemic