It seems that US farmers are starting to become very aware of the impact that alt-meat could have on their livelihoods.
A new survey by the Purdue-CME Group found that farmers expected plant-based meats to command as much as a tenth of the total protein market in five years’ time. Approximately 15%, said they expect plant-based alternatives to capture 10 percent or more of the total protein market. This would be a very speedy rise as it currently accounts for just 1.5% of total meat sales at grocery stores.
Not surprisingly many farmers view the rise of alt-meat as a negative phenomenon,
“A majority of producers said they think the impact on farm income arising from alternative protein capturing a 25% share of the total protein market will be negative,” the survey said.
Approximately four out of ten producers said they would expect to see farm income decline by 10 percent or more under this scenario.