![]() Since 2014, Hormel has spent over $6.5B on acquisitions, including Applegate Farms, Fontanini Italian Meats and Sausages, Ceratti, and Sadler’s Smokehouse. One of the biggest deals in this space was pork producer WH Group’s $4.7B acquisition of US-based Smithfield Foods, which owns brands such as Armour and Farmland, in 2013. In the past decade, the meat industry has seen massive consolidation, as companies like Hormel and Brazil-based JBS have grown bigger and bigger through the acquisition of new meat brands and products. The current state of the meat and plant-based industries Where the meatless revolution is headed next.VC bets point to a meatless-minded future.Corporates and accelerators back the meatless future.Alternative protein startups are innovating across the meatless ecosystem.Macro reasons propelling the meatless trend.Covid-19 may accelerate the shift to meatless alternatives.The current state of the meat and plant-based industries.Using CB Insights data, we dig into some of the major trends in the growing meatless industry, from startups to watch to key investors to future trends & challenges. Going forward, the meat value chain could be simplified dramatically, as “clean meat” labs could take the place of farms, feedlots, and slaughterhouses. Demand for vegan meat has soared, with retail sales of plant-based meat alternatives reaching $7B in 2020 - an increase of 27% from 2019, according to one report. In contrast, startups focusing on plant-based protein - such as Plantible Foods, Rebellyous Foods, Livekindly, and InnovoPro - have continued securing millions in funding amid the pandemic. ![]() In the US, just 4 producers - Tyson Foods, JBS, Cargill, and National Beef - control more than two-thirds of all US beef processing.īut as Covid-19 has spread across the globe, shifting consumer behavior and virus outbreaks in factories has dealt major blows to the meat supply chain, with the beef industry alone facing an estimated $13.6B in losses. To meet this growing demand, the meat industry has evolved into a complex global business that involves farms and feedlots, as well as meat middlemen, like processing and storage centers, transportation and logistics, slaughterhouses, and more. ![]()
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