Pursuing Price Parity: A Closer Look at the Cost of Alternative Protein
Alternative protein products are often more expensive than traditional counterparts, but advancements in technology and ingredients can help manufacturers in approaching price parity.
Manufacturers highlight the potential health benefits and sustainability aspects of alternative protein products, but these offerings are often more expensive than their traditional counterparts.
While taste is critical, price is a significant factor in consumer purchase decisions. The Good Food Institute (GFI) notes plant-based categories can sit “two -to-four-times the price of conventional products,” adding “altruistic” characteristics may not be the strongest purchase drivers. In research conducted on behalf of GFI by Morning Consult, 21% of surveyed consumers who had tried plant-based meat products once said it was too expensive to buy again.