Panel Discussion: Price challenges in alternative proteins and industry initiatives to address the cost impediment in food and beverage products
About the Session
Join this panel discussion as we dissect the price challenges and explore industry initiatives breaking down cost barriers in food and beverage products. Today’s global economic and inflationary pressure is punching people straight on their pocketbook. This has put the consumers on the defensive and led them to make different decisions at the grocery stores. This change of shoppers’ behaviors is having direct negative impact on the retailers and consumer packaged goods (CPG) companies. Consumers are basically making trade-offs and economizing to shield themselves from rising food prices. In this context, alternative proteins are usually not the bargain option, compared with animal proteins. Consumers are not repeatedly purchasing alternative proteins because in general the cost is far higher than that of protein from animals. This panel represented of food scientists, technical experts, and entrepreneurs, working on alternative proteins segment, will shed some light on the near- and long-term cost initiatives being looked at or deployed to achieve levels of affordability and make this alternative protein category as competitive as possible to conventional products. They will delve into the factors driving higher prices for alt-proteins compared to their traditional counterparts, analyze production costs, ingredient sourcing, and scalability challenges impeding wider adoption, and discuss consumer concerns and how affordability impacts purchasing decisions. You will therefore learn the innovative strategies and technologies companies are deploying to reduce production costs, discover the collaborative efforts to streamline supply chains and optimize resource allocation, and hear how government and NGO initiatives are promoting accessibility and price parity for alt-proteins.