Thank you for the comment -- we appreciate you reading the article in detail and sharing your views. Our intent was to explore the interplay between technological progress and market traction indicated by the demand and supply curves of the alternative protein industry, not to apply the Hype Cycle to the way people make food decisions. T…
Thank you for the comment -- we appreciate you reading the article in detail and sharing your views. Our intent was to explore the interplay between technological progress and market traction indicated by the demand and supply curves of the alternative protein industry, not to apply the Hype Cycle to the way people make food decisions. The promise of alternative proteins is to provide a path for consumers to make different decisions about their health and environment without compromising on taste and quality. Conventional meat and dairy products lack this benefit. ChatGPT today and the Internet in the 1990s similarly brought unique value propositions that were previously unavailable to consumers, explaining their rapid rise. We view the categorisation of alternative proteins and their positioning in the market from a broader perspective. Tyson Foods introduced plant-based chicken nuggets that are sold alongside conventional chicken nuggets. Chobani offers oat yogurt as an expansion of its conventional yogurt line. Some consumers (e.g. flexitarians) view this as a line extension, while others may see it as their default food choice. Unfortunately, the dip in performance of public-facing brands such as Beyond Meat and Oatly has led to criticism of the entire industry and a decline in funding momentum. Just as in any emerging market, many startups will fail due to gaps in their offerings or an inability to gain market traction. Despite this, investors must continue to back those companies that have a strong value proposition and a viable path to market. In terms of the Hype Cycle, it is too early to determine how the alternative protein industry will develop, but we continue to see positive developments such as the recent approval to sell cultivated meat in the U.S. market which will create new opportunities, bring in additional capital and engage new segments of consumers.
Thank you for the comment -- we appreciate you reading the article in detail and sharing your views. Our intent was to explore the interplay between technological progress and market traction indicated by the demand and supply curves of the alternative protein industry, not to apply the Hype Cycle to the way people make food decisions. The promise of alternative proteins is to provide a path for consumers to make different decisions about their health and environment without compromising on taste and quality. Conventional meat and dairy products lack this benefit. ChatGPT today and the Internet in the 1990s similarly brought unique value propositions that were previously unavailable to consumers, explaining their rapid rise. We view the categorisation of alternative proteins and their positioning in the market from a broader perspective. Tyson Foods introduced plant-based chicken nuggets that are sold alongside conventional chicken nuggets. Chobani offers oat yogurt as an expansion of its conventional yogurt line. Some consumers (e.g. flexitarians) view this as a line extension, while others may see it as their default food choice. Unfortunately, the dip in performance of public-facing brands such as Beyond Meat and Oatly has led to criticism of the entire industry and a decline in funding momentum. Just as in any emerging market, many startups will fail due to gaps in their offerings or an inability to gain market traction. Despite this, investors must continue to back those companies that have a strong value proposition and a viable path to market. In terms of the Hype Cycle, it is too early to determine how the alternative protein industry will develop, but we continue to see positive developments such as the recent approval to sell cultivated meat in the U.S. market which will create new opportunities, bring in additional capital and engage new segments of consumers.