Glance through the M&A page and it’s clear that the future of plant-based meat is both promising and growing. Driven by consumers who opt for Tofurky over a turkey or an Impossible Burger over a whopper, it’s no surprise that between 2016-2019 the sale of plant-based meats jumped 42% to a total of $888 million (as reported by ABC News).
According to the Health Focus Data, 17% of Americans eat a predominantly plant-based diet, and 60% intend on reducing their consumption of meat-based products. Their driving reasons include: desire for healthier/clean eating, avoiding toxic chemicals, more energy, improving digestion, preventing illness, heart health, stronger bones, live longer, improve skin health, sustainability, lifestyle, environment, ethical animal treatment, and peer/family group influence.
With a Compound Annual Growth Rate of 54% from 2013-2017 (according to Innova Market Insights), the plant-based meat industry is expected to continue in a healthy, upward trend. This growth is further supported by governments such as China who are in trade agreements with other nations to specifically to invest in plant-based companies.
Below are plant-based meat companies of various sizes and serving various markets. Do share with if you know of any more, and wish to see it on this list!
With the vegan cheese global market estimated to be worth $3.906 billion by 2024 (growing at a CAGR of 7.6% from 2016 to 2024), click here to read more about the growth of the plant-based industry. Or more specifically, who are investing in them, and who are buying the companies out.