Plant-Based Meat Predicted to Rebound as It Gets Cheaper and Tastier
- PlantPlus Foods says improving appeal is one of top hurdles
- Plant-based products are struggling to compete with meat
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A maker of veggie burgers and plant-based meat products backed by a multinational joint venture expects demand for fake meat to resume its exponential growth as food inflation eases and products improve.
PlantPlus Foods Chief Executive Officer John Pinto said his company sees global sales of plant-based food surging to $30 billion in a decade, after stalling in recent years around the $2 billion mark. His company is a joint venture between Brazilian meat giant Marfrig Global Foods and US agribusiness Archer-Daniels-Midland Co.