Tech limitations confine plant-based meat to low-value ground formats, missing premium steak.
John Baumgartner · Reviving the stagnant plant based meat market · Sep 28, 2023 · at 19:30
Mizuho equity analyst John Baumgartner explains why the plant-based meat sector struggles to expand beyond ground beef formats into high-margin whole-muscle meat cuts.
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“If you look at the innovation in plant-based meat, look at the products that are out there. It's ground beef. It's sausage. It's meatballs. It's patties. It's all ground beef product, and a big part of the issue is you have technological constraints up to this point in time where you don't really have the ability to produce a steak product, a structured product like a filet, and that's where most of the value is in this category.”
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