Impossible Prices: Fake Meat Sales Drop Amid Inflation

By Mark Whittington | Thursday, 29 September 2022 16:30
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Everyone who has been to the supermarket for the past few years has seen those meatless meat products.

They go under several brands, such as Impossible Meat and Beyond Meat. You can buy something that looks like meat and tastes like it without having it sourced from a living, breathing animal. The plant-based meat products cost a little more than the real kind. However, many vegetarians and animal rights people thought the extra price was worth it.

Indeed, according to Newswars, plant-based meat was supposed to be the next great thing. Even Burger King and Mcdonald’s were selling meatless burgers. Some analysts predicted that plant-based meat would constitute 15 percent of all kinds of meat sales by the year 2030.

But that was then, and this is now. According to Western Journal, consumers have started to turn away from fake meat. Plant-based meat product sales were down 15 percent as of September 4.

Two reasons for the sudden drop in popularity of fake meat predominate, both resulting from the Joe Biden presidency.

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First, inflation has caused the price of fake meat to skyrocket beyond consumers’ willingness to virtue signal. To be sure, the price of all food products has increased due to the Biden inflation. But fake meat costs significantly more than the natural variety.

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The second reason the sales of fake meat have taken a nosedive is that it has developed a branding problem. The purchasing, cooking, and eating of fake meat has become associated with wokeness.

“—’ wokeness’ describes a set of ideas that define the world as a set of ‘unjust power dynamics’ and corrupt systems that need to be dismantled.”

Wokeness has become an excuse for people to police how everyone speaks, lives, and even eats. It is part of cancel culture in which the woke shun people who have demonstrated that they are insufficiently woke. Many people, even vegetarians and animal rights activists, have rebelled against wokeness.

Most people are meat eaters, despite the association that livestock farming has with climate change. Because people are not ordering plant-based meat while eating out, many restaurants discontinue the menu items. Mcdonald’s has suspended the McPlant Burger, for example.

Thus, the stock valuation of plant-based meat companies has suffered. Beyond Meat, for example, is down 77 percent with a valuation of just $900 million.

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