Plant-based food prices have widely been considered high, leading to the concept of the ‘vegan tax’, by which vegan products often appear subject to ‘price hikes’ compared to their non-vegan counterparts.
But now, that seems set to change as recent data has shown that plant-based meat prices have dropped below animal meat prices, and the gap is widening.
Recent fluctuations in global supply chains have put immense pressure on traditional livestock farming, leading to a noticeable spike in the cost of beef, lamb, and pork. Amidst this volatility, new research from the Good Food Institute (GFI) Europe has found that plant-based mince and meatballs at Tesco are now, on average, 33 per cent less expensive than their conventional counterparts.
Are plant-based food prices dropping?
Sadly, the widening price gap isn’t due to discounted vegan products. Instead, it’s largely a result of soaring inflation within the meat sector.
According to the GFI Europe analysis, which tracked prices throughout the first quarter of 2026, plant-based mince is now 29 per cent cheaper than the animal-based equivalent. The difference is even more pronounced in the freezer and chilled aisles for meatballs, where meat-free versions are a staggering 41 per cent less expensive.
This shift comes at a time when traditional meat production is becoming increasingly costly. Data from the Agriculture and Horticulture Development Board indicates that beef prices rose by over 10 per cent in late April compared to the previous year, with lean beef mince specifically jumping by nearly 23 per cent.
These hikes are attributed to a ‘perfect storm’ of environmental and geopolitical factors, including last year’s droughts, which stifled grass growth and forced farmers to rely on expensive, cereal-based feed.