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More than 40 years ago, the first commercial veggie burger made its debut in London markets as packets of dehydrated ingredients that were mixed with water and shaped into patties. Today’s alternative proteins are unrecognizable in comparison, featuring cell-cultivated meats grown in brewery-style stainless steel tanks, fake sushi and faux burgers that “bleed.”

The sector saw a surge in the early 2020s to become a $1 billion market, but enthusiasm has wilted of late. Beyond Meat, for example, has seen its stock plummet…

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