United States

Vegan, plant-based ‘meat’ yields mouth-watering profits

Who needs beef, chicken or pork? That’s what an increasing number of Americans are saying. And companies have noticed, as they offer a range of meat alternatives. “Interest is booming in plant-based meat analogues and lab-grown meat alternatives,” according to PreScouter, a research firm, in its report Meat Alternatives 2019. Besides potentially big profits, alternative meat advocates say these products are better for the environment. Variations include plants such as soybeans, tofu, mushrooms, lentils and several fruits. They can replace meat in ground beef, sausages and bacon strips, among other foods. JPMorgan Chase says the market for plant-based meat alternatives could top $100 billion in 15 years. Barclays, in its Carving ...