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The vegan food market will grow 100-fold to $ 1.4 trillion by 2050, says financial giant Credit Suisse Suisse

According to a new report from global investment giant Credit Suisse, sales of plant-based alternatives to meat and milk could increase 100-fold to $ 1.4 trillion by 2050. Titled “The Global Food System: Identifying Sustainable Solutions”, The report examined the current global food system and explained the sweeping changes needed to sustain the growing world population – which is expected to reach nearly 10 billion people by 2050. In its 100-page report, Credit Suisse highlighted the need to shift towards a plant-based diet and the abundance of investment opportunities in companies advocating a more sustainable food system.

The report identifies animal husbandry as a major contributor to climate change and explains that more than 50 percent of the emissions generated by the global food system are related to raising animals for food, either through land use, animal feed, land conversion or methane production. “From our point of view, a switch to a plant-based diet appears inevitable if the global food system is to become more sustainable,” says Eugène Klerk, report author and managing director of Credit Suisse in the Securities Research division.

To facilitate change, Credit Suisse called for a reform of government systems that support the production and trade of unhealthy and environmentally harmful food. Currently, tomatoes, soybeans, and peanuts are the top three most taxed foods in the world, while four out of ten farm products with the most incentives (or subsidized) are meat products (pork, poultry, sheep and beef).

Investing in a vegan future

According to Credit Suisse, switching to a plant-based move could prove profitable for investors looking to support a more sustainable world. The report gives the conservative estimate that vegan milk will hold 50 percent of the dairy market share by 2050 – a number that, at best, could reach 80 percent within that timeframe. “A high percentage is not unlikely when we recognize that a sustainable world-related diet requires a decrease in milk consumption in order to meet longer-term climate and health goals,” said Klerk.

The report’s forecast for plant-based meats is a little less optimistic as the researchers believe that the adoption of alternatives to animal meat will be slower, with plant-based meat alternatives expected to hold 25 percent of the market share, and at best 50 percent, by 2050. Should the best-case scenarios apply to both plant-based dairy and meat alternatives, the report predicts that plant-based food sales will reach $ 143 billion by 2030 and increase 100-fold to $ 1.4 trillion by 2050 -Dollars will go up.

While there are currently around 600 small and private companies operating in the plant-based food space, Credit Suisse expects traditional players such as Danone, Nestlé, Brazilian meat companies and others to further shift their portfolios to include more plant-based foods products that offer investment opportunities in all areas, from small plant-based food companies to large multinational corporations to ingredient suppliers developing specific components for plant-based foods, and more. VegNews.OZOVeganBeef

Selling plant foods in the US

Credit Suisse’s prediction that a plant-based switch is “inevitable” has been confirmed in many parts of the world, including the United States. While sales of plant-based foods have been increasing in the U.S. for years, COVID-19 has greatly boosted sales of plant-based meat and milk. At the start of the pandemic, the virus devastated most of the country’s largest meat companies, exposing the overcrowded conditions workers must endure. Tyson, JBS, Smithfield, and other meat giants closed slaughterhouses for a while to contain the spread of diseases that contributed to a nationwide meat shortage – paving the way for consumers to fill the void with plant-based meat.

While plant-based food sales were growing even before the pandemic, SPINS data in mid-March 2020 – the peak of panic buying from the COVID-19 pandemic – showed plant-based food sales increased 90 percent over the same period in the year In 2019 sales increased. In the four weeks that followed, plant-based food sales rose 27 percent, outperforming total food retailing by 35 percent. During the prime buying season, vegan meat sales rose 148 percent and rose 61 percent over the next four weeks, twice as fast as animal meat sales. VegNews.ImpossibleFoodsPackage

American consumers continued their interest in plant-based foods throughout 2020, with sales of plant-based alternatives to animal-based products increasing 27 percent to $ 7 billion, according to data published by SPINS on behalf of the Plant Based Foods Association (PBFA) trading group. compiled sales figures. and advocacy for nonprofit The Good Food Institute (GFI).

The impact of the pandemic on eating habits, coupled with growing consumer awareness of the environmental impacts of animal husbandry, create the inevitable tipping point as Credit Suisse is confident that the plant-based food industry will take the plant-based food industry to new heights in the decades to come. “The data clearly shows us that we are experiencing a fundamental shift as more consumers choose foods that taste great and are good for their health by including plant-based foods in their diets,” said PBFA Senior Director of Retail Partnerships Julie Emmett said.

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