"We found that there were a lot of people trying the product, but not a lot of people repeating the product," Bar Am explained. Then, consumer interest in plant-based meat waned. The stock ultimately ended the year 202% higher than its $25 initial public offering price and continued its ascent in 2020, gaining more than 65%. In May 2019, plant-based darling Beyond Meat went public, surging 163% on its first day of trading.
There were new products by public companies such as Tyson Foods and Kellogg, as well as from private ones. Between 20, the plant-based market in the United States grew around 46%, he said. However, it saw a resurgence in the last few years in what Jordan Bar Am, a partner at McKinsey & Company who focuses on alternative proteins, dubs plant 2.0. The rise, fall and future of plant-based meat Plant-based meat has been around for decades. That means the investment opportunities right now are largely in public companies that make plant-based products, although investors see plenty of opportunity down the road for cultivated meat, also known as cultured meat. So far, it's only been available through specific restaurant partnerships. A select few had their first official tastes after the Department of Agriculture approved the sale of cell-cultured chicken by Good Meat and Upside Foods in June. While plant-based products are already on store shelves, cultivated meat is just getting introduced to American consumers. "Furthermore, as the world feeds the growing population - estimated to reach ~10B by 2050 from ~7.8B in 2020 - the need to leverage agriscience and technology, use novel sources of protein, and innovate food products is key to our future," he added. Over the next decade, the focus will continue shifting towards sustainable and healthy products, he said. "The food industry is undergoing a major revolution," Telsey Advisory Group analyst Sarang Vora wrote in a June 26 note. That includes plant-based products, as well as those cultivated from animal cells. The growing global population, coupled with an increased focus on health and sustainability, has the industry looking to alternative meats. There's a change afoot in the food industry. Personal Loans for 670 Credit Score or Lower
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