If any of the planet saving meat substitute promises are true, such a fake meat patty would cost a tenth of the beef equivalent and it would dominate the market. I read somewhere you would need 25 kg of feed to produce 1 kg of beef, ergo one could potentially produce 25 times the amount of substitute. Obviously that isn't true and such a patty is a specialized product of various highly processed plant matter. It is a…
US livestock subsidies are in dozens of billions. Whole sector seems to have revenue in lower hundreds of billions (harder to get exact data, please correct me). Even without premiums target audience is willing to accept, subsidies of 10-20% of sector revenue are pretty hard to beat.
Thanks to lobbying meat and cow-milk are taxed as basic foods, while vegan alternatives are taxed as luxury items.