Is Covid-19 Accelerating Developments in the Alternative Protein Sector?
A recent article published on the Proveg International website explains that despite the severe impact that the ongoing pandemic is having on the foodservice industry and the wider global economy, there are plenty of reasons to be optimistic about the future of the alternative-protein sector. In Europe, Asia, and the US, plant-based meat sales are skyrocketing, investments are being poured into alternative-protein companies, and large corporations are shifting to secure their share of a rapidly growing market.
The author mentions a few examples to support this argument. KFC and Starbucks in China have introduced plant-based products, supermarkets in Spain have also stocked up on plant-based meat and sales of plant-based meat in the US have been skyrocketing since the first weeks of march. And investment in both plant-based and cultured protein companies in the first quarter of this year has reached record-high levels.