With global food giants pushing into plant-based foods, the industry could grow 100 times larger by 2050, according to Credit Suisse, as reported by Financial Review.
In addition, “A report on the shifts in the global food industry forecasts that global sales will climb from $14 billion to $1.4 trillion within 30 years for plant based food,” added the Financial Review. Helping, food giants are investing heavily in plant based foods, including Nestle, which is building a $100 billion plant in China to produce meat-free options, according to The Beet.
In addition, Tyson, Smithfield, Perdue, and Hormel have jumped on the plant-based bandwagon. Even fast food chains like McDonald’s introduced a McPlant meatless burger. Jimmy Dean added plant-based patties, including the Jimmy Dean Plant-Based Patty, Egg & Cheese Croissant Sandwich and Jimmy Dean Delights Plant-Based Patty & Frittata Sandwich.
All as more Americans choose “breakfast time to incorporate plant-based options versus other meals,” noted a recent Jimmy Dean press release. Plus, late last year, Unilever set an annual global sales target of $1.2 billion from plant-based meat and dairy over the next few years.