Between 2021 and 2022, sales of meat substitutes such as Impossible and other brands saw a decline of 10.5%.
Experts suggest that the decline is due to a multi-factored issue for the non-meat industry: perception and price.
Jonna Parker, a fresh food specialist at a market research company, explains, “Proteins that were cheaper on a price-per-pound basis did fare better.” She also added that semi-vegetarian shoppers that may have opted for an alt-product will now go for the cheaper real meat.
Taste and health also contributed to the shift away from meat substitutes.
After all, it’s almost as good as the real thing – but almost isn’t quite enough when you’re spending dollars you earned with your blood, sweat, and tears.
And there’s also the perception that the idea of eating meat substitutes is a “woke” subscription. People are tired of associating with anything considered overly “woke.” Other industries could soon find themselves victims of the pendulum swinging the other way, such as electric car makers and others.