Meatless industry growing, but …
The meatless industry may be worth $140 billion globally in the next 10 years, according to financial services company Barclays, but that is nothing compared to the current $1.4 trillion global meat market, which is showing no signs of slowing down.
According to CNBC, despite the trend in eating plant-based “meat,” global consumption for meat is still on the rise, driven in part by countries like China and Brazil, which saw a massive increase in recent decades. The average person in China, for instance, went from consuming just 9 pounds of meat per year in 1961 to 137 pounds per year in 2013, according to The Economist, reported by CNBC.
However, people like Pat Brown, CEO and founder of Impossible Foods, a startup company that makes plant-based alternatives aimed to look and taste like meat, expect more customers to reassess their meat consumption. “It’s going to be a tipping point in five to 10 years,” he told CNBC. According to the article, Brown wants to see animals removed entirely in the food system by 2035.
To read the CNBC article, click here.