The data suggests that from 2017 to 2018, restaurant sales of meat substitutes only increased by 21.66 percent, and the number of restaurants serving ‘some kind of meat alternative’ has increased by 26.4 percent from 2017 to 2019.
‘Consumers want more options’
Explaining the factors behind the spike in sales this year, President of Dining Alliance, Christina Donahue, said: “Simply put, the food has gotten better. Both Beyond Meat and the Impossible Burger have dramatically increased the quality and taste of meat substitutes to the point that they are products that restaurants feel comfortable serving.
“Restaurants are realizing that in order to compete for the segment of the market that doesn’t want to eat meat, they must do more than simply offer a variety of salads on their menu. Consumers want more options.”
Paying the price?
Donahue also pointed out that some restaurants are charging ‘premium price’ for meatless alternatives, which ‘makes offering them more lucrative’.
She also notes that the spike in meat-free products has ‘led to some volatility in pricing as the market races to catch up the growing demand – as the report reveals there’s been a 29 percent jump in prices for meat substitutes since 2017.