Plant-based meat made its debut in supermarkets as early as the 1970s, but folks also regarded it as an uninspired substitute for real meat for years to come. It wasnât until the late 2010s that everything came up roses for plant-based products. In 2018, sales for meat alternatives grew 23%âa trend that has only accelerated in the years since(*).
New entrants to the category, such as Beyond Meat and Impossible Foods, marketed their burgers as highly-convincing meat mimics. Perhaps more significantly, these challenger brands doubled down on partnerships with quick-serve restaurantsâincluding Burger King, White Castle, and McDonaldâsâwhich exposed a much broader consumer base to plant-derived meat.
These challenger brands also added much-needed cachet to plant-based offerings by attracting celebrity investors. For example, Impossible Foods and Beyond Meat count among their shareholders Snoop Dogg, Leonardo DiCaprio, Serena Williams, Jay-Z, and Katy Perryâto name just a few. Even meatâs staunchest supporters would have to wonder what the craze is all about.
