According to the World Economic Forum, the amount of meat in the average North American diet will be impossible to maintain by 2050, if we are to meet our planned sustainable development goals. [1]
Trends in the market are showing continued demand for plant-based protein, with companies such as Beyond Meat (NASDAQ:BYND), Impossible Foods, Maple Leaf Foods and so on, offering their own take on nutritious, meatless alternatives. In regards to this quickly-expanding space, the Swiss investment firm UBS predicts the plant-based meat market can reach $85 billion by 2030. [2]
The plant-based power does not end here, as additional research has shown the impact of plant-based plastics on the market. For many companies, using heavy materials such as metal, glass or wood can be an added cost that brings little value. This is why the lightweight, renewable alternative of bioplastics is taking over multiple markets, including packaging, consumer electronics, toys, textiles and so on. Market data provided from European Bioplastics shows global bioplastics production capacity to reach 2.62 million tonnes by 2023. [3]
good natured (R) Products Inc. (TSX-V:GDNP) is a valuable example of a plant-based packaging company that is reaching milestones within the industry. With a variety of everyday products and cutting-edge bioplastic technology, the company continues to drive sales while contributing to sustainable goals.
What companies are you looking at in the plant-based space?