Demand for plant-based food is only gaining momentum.
In fact, over the next three to four years, says Cargill CEO Dave MacLennan, as noted by AGWeb, “plant-based protein will possibly make up 10% of the market. He says it will continue to eat into the market share of traditional meat demand. Despite being a major beef processor, Cargill continues to increase its footprint in the plant-protein industry, including selling pea protein to businesses like Beyond Meat.”
That continues to be a solid catalyst for companies such as Komo Plant Based Foods (CSE:YUM), Very Good Food Company Inc. (TSXV:VERY)(OTC:VRYYF), Unilever (NYSE:UL), Plantx Life Inc. (CSE:VEGA)(OTC:PLTXF), Unilever (NYSE:UL), and Else Nutrition Holdings Inc. (TSXV: BABY)(OTCQX: BABYF). In addition, “Consumer demand for plant-based options has been growing steadily, and quick-service restaurants are doing their part to meet the demand with alternative burgers and chicken. Technomic Ignite menu data predicts that plant-based proteins will grow nearly 35% on menus by the end of 2022,” as noted by Restaurant Business Online.