With millions switching to plant-based foods, sales could increase 100-fold to $1.4 trillion by 2050, says Credit Suisse.
“While there are approximately 600 small and private companies currently operating in the plant-based food space, Credit Suisse expects traditional players—such as Danone, Nestlé, Brazilian meat companies, and others—to continue to transition their portfolios to include more plant-based products, presenting investment opportunities in everything from small plant-based food companies to large multinational conglomerates to ingredient suppliers developing specific components for plant-based foods, and more,” noted the firm, as highlighted by Veg News.
That could be substantial for companies such as Komo Plant Based Foods (CSE:YUM)(OTC:KOMOF)(FSE:9HB), Beyond Meat Inc. (NASDAQ:BYND), Very Good Food Company Inc. (TSXV:VERY)(OTC:VRYYF), Tattooed Chef Inc. (NASDAQ:TTCF), and Shopify Inc. (NYSE:SHOP).
In addition, “David MacLennan, CEO of Cargill predicts that plant-based protein will significantly cut into the sales of meat, noting that he and his company are aware of the changing consumer preferences,” reports The Beet. “Suddenly what once looked like a niche market, owned by Impossible Foods and Beyond Meat, is taking a giant step into the mainstream.”