Fake meat is no joke
According to UBS Group AG, the market for plant-based protein is set to surge over the next decade as part of an agricultural revolution in technology.
“Mock meat was an almost comical fad 20 years ago,” Wayne Gordon, senior Asia-Pacific strategist at UBS Global Wealth Management, said in a 67-page report. “It’s no laughing matter today, given the industry’s meteoric rise in recent years.”
Beyond Meat Inc., the vegan burger maker, emerged as this year’s darling in the IPO market with shares surpassing $200 last month compared with a US$25 offering price.
UBS predicts the plant-protein market will swell to $85 billion by 2030 from US$4.6 billion now, with the broad market for agriculture technology set to reach $700 billion from $135 billion.