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According to their latest report: “Nearly all the food & beverage startups that have attracted smart money are focused on transformational technologies such as plant-based protein and animal-free eggs — startups that may not only be selling products, but are designing new processes that could change what we eat.”
Among the plant-based startups listed as receiving the most amount of venture capitalist funding include Impossible Foods ($183 million), Hampton Creek ($120 million), Ripple Foods ($43.6 million), Beyond Meat ($40.5 million) and Kite Hill ($25.4 million).
According to another recent report, the meat substitute market is predicted to grow in value to $5.96 billion by 2020. Likewise, the dairy-free market is expected to surpass $35 billion by 2024, with a predicted annual growth rate of at least 10%.
Clearly, the animal-free food and beverage market is growing rapidly, and venture capitalists, who traditionally focused solely on tech startups, are increasingly interested in investing in vegan companies.
Klaus is the editor and founder of Plant Based News.
This review of 29 studies, funded by the Global Dairy Platform, Dairy Research Institute and Dairy Australia, concluded that dairy foods don’t increase the risk of early death, heart disease or stroke
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