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Meat substitutes recorded $19.5 billion sales globally in 2018, according to Euromonitor International. Nearly one in four global consumers are trying to cut down their meat intake, while nearly 42% think climate change will increasingly impact their life through 2024. Pricing and availability of meat substitutes are two key factors that currently hold back penetration worldwide. Full Story
Meanwhile, global pea protein sales will quadruple by 2025, with most of the increase stemming from consumption of plant-based meat products, according to food industry adviser and board member Henk Hoogenkamp. Canada is expected to become the global production leader and account for 30% of output in 2020. In anticipation of increasing demand, Lightlife bought more than a year's worth of the ingredient, while Ripple Foods created its own supply chain, working with farmers and developing its own proprietary process for cleaning the peas and extracting protein, reported Crain's Chicago Business. Full Story
Just will go public, but no timeline has been set for the IPO, according to the company's CEO. The company believes Beyond Meat's IPO attracted attention and investors to the plant-based market. In the next two to three years, Just expects China to account for the bulk of its revenue, and the company plans to target Europe and India, reported Bloomberg. Full Story
Keurig Dr Pepper majority shareholder Acorn Holdings intends to sell a portion of its holdings. Acorn's decision was motivated by a desire from Keurig management to provide additional liquidity to the market. The firm already agreed to sell approximately 47 million shares through registered direct sales, which increases the public float to approximately 18%. Full Story
Shamrock Foods purchased land in Aurora, CO, with plans to build a new distribution facility. The company paid approximately $30 million for the 116 acres, located near Denver International Airport, reported Denver Business Journal. Full Story (Subscription Required)
read moreUpper Saddle River, NJ (April 3, 2019) - The Food Institute tallied 527 food industry mergers and acquisitions in 2018, down almost 11% from 2017’s record year, according to its annual Food Business Mergers & Acquisitions report. Manufacturers, investment firms and retailers were once again the largest segments, taking part in more than half of the deals for the...
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The April figures for wholesale and retail inflation will be published May 9 and May 10, respectively, with the commodity expected to garner the most attention being pork.
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