Our Meatless Future: How The $2.7T Global Meat Market Gets Disrupted

Will a meatless food industry featuring lab-grown meat, seafood substitutes, and insect protein be the future of food? As Covid-19 upends the traditional meat supply chain, food giants and startups alike are working to navigate a future where protein isn’t dominated by conventional meat sources.

At the moment, meat is still king.

By some estimates, 30% of the calories consumed globally by humans come from meat products, including beef, chicken, and pork. The global meat market could be worth as much as $2.7T by 2040, according to CB Insights’ Industry Analyst Consensus.

Americans consumed a record 225 pounds of red meat and poultry per capita in 2020 — in 1960, that figure was just 167 pounds, according to the USDA.

To meet this growing demand, the meat industry has evolved into a complex global business that involves farms and feedlots, as well as meat middlemen, like processing and storage centers, transportation and logistics, slaughterhouses, and more.

In the US, just 4 producers — Tyson Foods, JBS, Cargill, and National Beef — control more than two-thirds of all US beef processing.

But as Covid-19 has spread across the globe, shifting consumer behavior and virus outbreaks in factories has dealt major blows to the meat supply chain, with the beef industry alone facing an estimated $13.6B in losses.

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Πηγή: cbinsights.com

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