According to the Good Food Institute, 2020 has set new records for sustainable protein company launches, private investments, and retail sales.
Western Europe is now the largest regional market for plant-based meat at $1.8 billion, making up 43% of the global plant-based meat market. The region grew 17% compared with 2019. Global retail sales of plant-based meat hit record highs in 2020, reaching $4.2 billion, up from $3.4 billion in 2019; yet, the alternative protein sector lags behind conventional meat and dairy.
More capital than ever flew into this industry segment; around $2.2 billion were invested in the plant-based space, making up almost half of all capital invested in the industry since 1980.
In 2020, fermentation joined plant-based and cultivated proteins as the third technological pillar of the alternative protein revolution. Within the alternative protein sector (which includes plant-based and fermentation segments), cultivated meat accounted for 14% of overall annual private-sector investments.
However, while the reports show that while year-on-year growth continues to trend upwards, the market share of plant-based and cultivated meat, and other proteins remains just a fraction of the trillion-dollar global meat and dairy industry.
(Source: Food Navigator 2021)
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