Consumer Staples

Summer grillin' with FAKE meat?!

Gardein's taste for fake meat

Meat prices too high for the Memorial Day weekend barbecue? Throw some fake meat on the grill.

Source: Gardein | Facebook

As beef prices climb to their highest levels in almost three decades in some parts of the United States, consumers left searching for an alternative now have a choice.

Gardein makes a line of plant-based foods with a meaty texture available at major retailers like Whole Foods Market and Target. The company, which offers Beefless Burgers and Chick'n Sliders, says it has seen 50 percent growth each year since its launch in 2009.

But are consumers ready to swap steak for soy protein on the grill this summer?

Gardein founder Yves Potvin, said to have created the first "veggie dog" more than 25 years ago, certainly thinks so.

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"Anytime the price of meat goes up, there's a consumer that's always on the threshold who is looking to say, 'I'm ready to make a switch,'" Potvin said on CNBC's "Squawk Alley."

"So Memorial Day weekend is the perfect day to try it."

—By CNBC's David Montalvo.