The new foods I’ve tried are just a smattering of what’s on offer from the dozens and dozens (and dozens) of plant-based startups that have sprung up in recent years, fueled by billions of dollars in venture capital cash. It’s the vegan gold rush, and while all that investment has been great for the companies, I worry about the downside for consumers and the plant-based movement: a glut of mediocre products.
“If there’s a plethora of really poor products on the market, and people who don’t do their research or haven’t been exposed to [better] products choose one of those as their first foray into plant-based foods, that can certainly create a negative halo around the category,” says Jennifer Bartashus, a senior analyst at Bloomberg Intelligence.
…
The distance that even the best startups still have to go to make hyperrealistic analogues — despite billions in collective investment — illustrates just how hard it is to make plant-based meat, milk, and eggs that can compare to conventional products. And easy money might be drying up; venture capital firms are tightening their belts in the current economic environment.
