Most plant-based meat startups focus on manufacturing beef and poultry substitutes, with plant-based seafood receiving less attention due to the emphasis on alternatives for red meat and chicken. Disruptors in beef, poultry, and pork alternatives have attracted significantly more funding than other segments of the industry.

Over half of the plant-based meet startups analyzed have launched products and are in the go-to-market stage, with a few advancing to the expansion phase, highlighting the sector’s commercial potential. While red meat substitutes dominate startup activity, alternative poultry and pork are also being explored. However, the development of plant-based ingredients and technology suppliers trails behind meat alternative producers. These suppliers are fewer in number and often have only a minimum viable product, with some ready to go to market. Meanwhile, industry incumbents have expanded their presence through in-house innovations, acquisitions, and investments, with most being consumer packaged goods manufacturers or traditional meat producers.