- traditional food companies consolidation/acquisition
- startup companies making meat out of labs or plant-based products
- In 2019, one of the world’s biggest alternative protein brands, Beyond Meat, the manufacturer of the plant-based Beyond Burger, went public at a valuation of almost $1.5B
Differences in numbers:
There are other related trends in meal replacement & dairy substitutes,
insect protein and seafoods
Why now:
- Forces like urbanization, population growth, and a rising global middle class lead to greater meat consumption
- Alternative protein sources can reduce the negative environmental impact associated with meat production
- Consumers are seeking healthier food alternatives
- Advances in ag tech and synthetic biology are enabling high-tech meatless products
- Meatless consumption could alleviate ethical questions around current meat production practices
- Alternative meats could reduce contamination, reducing global health problems
Full report here.