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INVESTMENTS IN PLANT-BASED PROTEIN FOODS CONTINUES TO RISE
Apr. 12, 2023
Agri-Pulse reports:
Plant-based meat, egg, and dairy companies raised $1.19 billion in 2022, bringing all-time investment to $7.78 billion since 1997, according to the Good Food Institute's latest 2022 State of the Industry Reports. The number of unique investors grew by 17% in 2022, while the industry saw 15 liquidity events during the year.
In the U.S. market, plant-based foods are an $8 billion market, and last year 619 new plant-based SKUs hit U.S. retail shelves. GFI reported that support for alternative protein R&D was secured at both the federal and state levels, with Congress allocating nearly $6 million to USDA and California dedicating $5 million to three universities.
Cultivated meat, or that grown in a lab setting, is not on the U.S. market today, but the industry has invested $2.8 billion in investments with last year's latest installment of $896 million, according to GFI's report on the cultivated meat products. FDA gave UPSIDE Foods a regulatory "green light" for its cultivated chicken, but it's not the only player in the market, with a total of 156 companies in 26 different countries in the space.
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