Vegan Protein Industry Thrives During Pandemic With $741 Million Investment
Capital raised by the collective plant-based meat industry reached the $747 million mark in 2019 — a figure that is now on track to being beaten this year.
The report from The Good Food Institute (GFI) has revealed that “2019 was the most successful year…for plant-based meat, eggs, and dairy.”
“A Global Shift”
“There’s been a surge in investor confidence fueled by durable and increasing consumer interest in alternative proteins” explained Caroline Bushnell, the associate director of corporate engagement at GFI.
“Investors have seen the market opportunity and are moving to capitalize on a global shift in the way meat is produced.”
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Vegan Protein Industry
Data from GFI shows that in the last ten years, the plant-based protein industry has raised a massive $2.7 billion in venture capital — with nearly half of that amount being raised in 2019 & 2020.
The COVID-19 pandemic has caused disruption to the meat supply chain, and has also increased public awareness into the dangers of factory farming.
“This record-level investment will bolster the industry and support continued growth and innovation for the long term,” said Bushnell, “ensuring that alternative protein companies have the resources to grow and thrive, particularly during times of short-term market volatility.”
“The COVID-19 crisis has made bolstering our global protein supply more critical than ever, given the inherent—and now very apparent—vulnerability of supply chains dependent on industrial animal agriculture.”
Do you think the success of the meat-free industry is set to continue? Let us know your thoughts in the comments below!
Tags: coronavirus, COVID-19, Pandemic, Plant-Based Protein, The Good Food Institute, vegan, vegan business, vegan food