In an address to the Ad Week Conference, Peter McGuinness, CEO of Impossible Foods, attributed the dismal market growth of plant-based meat alternatives to inappropriate positioning of the product.  He commented that the challenge for his industry is to “try to convince the meat-eating public to sample alternative protein”.  Reference to the financial reports of competitors Beyond Meat and Maple Leaf Foods dispels this idea.  Both companies showed high rates of initial growth followed by a plateau and a decline in sales volume.  This indicates that people tried and rejected the products based on quality, price and lack of culinary versatility.  Essentially products from Impossible Foods and Beyond Meat imitate ground beef as ersatz products of questionable organoleptic quality.  In many cases, one try was enough to satisfy curiosity.  As for those committed to consuming real meat and chicken, the unfavorable price differential and appearance are turn-offs in a cost-conscious economy.

McGinness considers that the manufacturers of plant-based meat alternatives stressed sustainability and environmental advantages as the major attributes of their products.  He stated, “There was a wokeness to it and a bi-coastalness to it and that pissed most of America off.”  If it were that simple, the situation could be corrected.  Unfortunately, McGuinness is attempting to sell an inferior product at a higher price than the real product it has attempted to displace.

All consumers are in favor of welfare, environmental sustainability and other feel-good attributes but when it comes to the check out line, they’re not willing to pay for nonquantifiable claimed advantages--especially with defective quality.

There will always be a limited market for alternatives to real meat among affluent health and environmentally conscious consumers who are willing to pay more and enjoy the self-satisfaction associated with consumption of alternatives to real meat and poultry.  McGuinness needs to look elsewhere for the poor performance of his segment other than inappropriate positioning and promotion.