Market For Plant-Based Meat Growing

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Plant-based burgers are capturing more space on US barbecue grills this summer, fueling sales numbers for the niche products that could reach 5 billion dollars globally by 2020. Plant-based meat foods, which include beet juice for color and canola oil to simulate fat, are not only pulling in consumers but also powerhouse companies build upon traditional meat. Tyson Foods Ince jumped into the plant-based meat sector last October when it bought a 5 percent stake in Beyond Meat. Tyson's Chief Executive Officer Tom Hayes has said demand for plant-based protein is growing a little faster than for animal-based. The U.S. summer grilling season, which runs from early May to September and includes three holidays, is a key sales period for burgers, ribs, steaks, and now alternative meats.



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