News

Investment in plant-based protein growing

Plant-based protein companies have attracted $16 billion in investment during the last 10 years. The Good Food Institute says $13 billion was invested in just the last two years. Alternatives to dairy products lead the way, while mainstream restaurants are adding plant-based burgers to their menus. Carl’s Jr., Red Robin, and White Castle serve products from Impossible Foods and Beyond Meat.

The largest and most developed plant-based category is plant-based beverages, accounting for almost $2 billion in sales representing 13 percent of the total US retail milk market. Retail sales of plant-based meat grew 23 percent from 2017 to 2018, exceeding $760 million.

Cell-cultured protein investments are growing. The Good Food Institute says 11 new cell-based protein companies were founded last year, and $50 million in capital was raised.