The U.S. summer grilling season, which runs from early May to September and includes three holidays, is a key sales period for burgers, ribs, steaks, and now alternative meats. The period accounted for $23.74 billion of retail meat revenues in 2016, according to Nielsen Research, when total meat revenues were $76.43 billion.

Agents for change

Alternative meat producers are targeting millennials and Generation X, people between 18 to 50 years of age, according to Chicago-based consumer research firm Technomic. These consumers tend to care more about the food they eat and are also willing to spend more on their choice, said Michele Simon, executive director of the Plant Based Foods Association.

Nielsen data showed millennial and Gen-X households also accounted for 45 percent of the dollars spent on meat last year.

"Within the animal protein sector, plant-based meat companies are targeting the next generation that is emerging as change agents," said David Henkes of Technomic. "It's a cohort that's going to shake things up even more."