Plant-Based Proteins Are Cheaper Than Meat Right Now

A new report has found that as the price of animal products skyrockets in the UK, certain plant-based proteins are now cheaper than meat.

London-based charity and independent thinktank the Green Alliance published the report, titled ‘Recipe For Resilience: the benefits of a thriving plant-based protein sector in the UK,’ in late September. It highlighted several key changes in protein prices over the last year and made a series of recommendations for easing the cost-of-living crisis and building a healthy, sustainable food system.

The average price of meat rose by £1.18 per kilo over the last 12 months, while the price of plant-based proteins fell by 14 pence per kilo. Per the report, this represents an opportunity for national investment, particularly since plant-based foods support better health and climate change mitigation, two areas that require immediate attention from the British government.

The report noted that beef prices are rising faster than any other meat at an average of 33 percent. Equivalent alternative products such as beef-style mince and vegetarian meatballs are now cheaper per gram, with some plant-based prices falling and others simply holding steady. Other popular items, such as plant-based burgers and nuggets, cost approximately the same as meat per gram.

Meat and the cost-of-living crisis

“The rising cost of meat shows no sign of relenting, putting pressure on family finances,” said Lydia Collas, head of natural environment at Green Alliance, as reported by The Grocer. “Plant-based alternatives are proving to be more resilient to price rises, and our new research shows that they’d knock £2.15 off the cost of a family-sized lasagne.”

Most plant-based foods also come with substantial environmental and health improvements compared to traditional proteins. For example, a separate report from last year found that alternatives are healthier and better for the planet, while another found that alternatives have an 89 percent smaller environmental impact compared to traditional meat products.

‘The government must support the sector’

Photo shows a chest refrigerator full of Beyond, Impossible, and other plant-based meat products — Adobe Stock Public investment in the plant-based sector could also be a lucrative business decision

The report recommended that the government “reignite growth” in the sector through targeted funding, supply chain development, retail accountability measures, and regulatory flexibility. It found that every £1 of public investment into the sector stimulated £1.92 of private investment, a greater rate of return than artificial intelligence university research.

The report also noted that public appetite for plant-based products is already high, with 60 percent of people willing to try alternatives and 58 percent already reducing meat consumption. However, nearly one out of every two people is also worried about being able to afford food in the next 12 months.

“To improve the UK’s food security, and encourage British businesses with clear growth potential, the government must support the sector to help bring a wider range of plant-based choices to shops,” said Collas.