“The average price for meat alternatives sold in US grocers’ meat departments last year was $9.87/lb, twice the average price of beef ($4.82/lb), and fourfold the average price of chicken ($2.33/lb).”
Startups chase mung beans, fava beans and lentil protein that cost $2 to $10 a pound. Soy and wheat sell for pennies. Morningstar and Gardein figured that out decades ago and still undercut the startups. Chicken won by making one cheap product at enormous scale. Plant-based meat keeps losing on price and calling it premium.