Competition Grows for Alternative Meat
Competition is growing for meat from alternative sources. Lab-grown and plant-based protein companies say the technology is getting better.
A crop called "Yellow Pea" is one of the main ingredients some of the companies are using for plant-based burgers. Some companies are working on different traits including, efficiency, flavor and even potentially boosting protein content.
Matt Crips of Benson Hill Biosystems says, "When you talk about product development cycles using editing and A.I. breeding approaches, you are talking 3 to 8 years for product development. Whereas, historically, we may have seen product development cycles which would take 7 to 15 years."
According to the Wall Street Journal, Beyond Meat's shares have nearly quadrupled from its May initial public offering price. Impossible Foods raised more than $300 million fro private investors in May as well.
