With global warming, environmental issues, animal welfare and public health being more urgent than ever, it’s no wonder many people are switching to a vegan, vegetarian or flexitarian diet.
The plant-based market has boomed in the last few years, with demand – and offer – skyrocketing.
In 2019 the plant-based food sector grew by 11% (whilst the overall food market grew by 2%) and in 2020 was worth $15.4 billion.
In 202043% of overall plant-based meat was sold in Europe, according to the Good Food Institute, and its global value was of $4.2 billion, up 800 million from the previous year.
It’s no wonder that investment companies are pouring money into vegan start-ups. It’s not just companies who are keen to get a return from the plant-based food sector. Tech moguls, sport personalities and celebrities have all made some substantial investments in companies such as Impossible Foods and Beyond Meat and many are parting with their money to help start-up grow.
Jeff Bezos-backed plant-based dairy and meat start-up NotCo recently reached Unicorn status after their latest funding round raised $235 million. Formula One driver Lewis Hamilton and tennis champion Roger Federer were two of the investors.
In June former Manchester United footballer Chris Smalling invested in Spanish vegan meat brand Heura, after investing in Food Matters Live 2020 Awards winner plant-based company THIS.
Through his company Marcy Venture Partners (MVP) rapper Jay Z recently backed dairy-free cheese brand Misha’s Kind Foods, just one of several of the music mogul’s investment in vegan companies.
Microsoft’s Bill Gates, Twitter founder Jack Dorsey and Reddit co-founder Alexis Ohanian are just some of the tech magnates who are heavily investing in the plant-based sector, and they are just a few of many, many more public personalities who want a slice of the (vegan) pie.