Cargill Says Demand for Plant-Based Protein Could Grow to 10% of Market by 2025
Cargill Plant Based Protein Market 061421
Cargill's CEO says the company is in the middle of a major shakeup as it says consumers will continue to demand more plant-based protein products.
Dave MacLennan says Cargill's analysis shows in 3 to 4 years, plant-based protein will possibly make up 10% of the market. The CEO made the comments during a conference held by the U.S. National Grain and Feed Association 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. Cargill recently launched some of its own products called "PlantEver" in China.
