The global retail sales of plant-based foods reaching $7 billion and a $2.3 billion investment in 2020, albeit an unprecedented pandemic, is a strong indicator of the industry’s growing traction among consumers and investors.
To substantiate further, the adoption rates of some categories of plant-based products are skyrocketing, for example, 95% is the adoption rate of plant-based milk in Italy while the figure in France and Germany is 89% and 88%, respectively. Talking of plant-based meat, China’s household penetration rate is around 87%, according to the Good Food Institute. These statistics help us gauge the sector’s potential growth around the world. It becomes imperative to keep oneself abreast of the latest trends around the sector.
Keeping in mind this understanding, Wavteq Institute has curated our latest industry blueprint on the Innovative Food & Beverage sector that captures a holistic view of the plant, cell, insect-based food and beverage industry with a focus on the influencing factors, key trends, greenfield investments, M&A activity, key stakeholders and category insights.
The report is available exclusively for the subscribers of Wavteq Institute, a continuous learning & market intelligence platform by Wavteq for the economic development community.
To know more about this briefing or to explore Wavteq Institute, get in touch for a live demo of all the platform has to offer!