Meati Secures Another $100M, Proving Plant-Based Meat Is Far From a “Dead Duck”

Despite 'old world' meat sectors casting doubt, the recent capital raising in the plant-based industry tells a different story.

Colorado based, Meati, a mushroom-root meats company, just 'ramped' this trend by raising an another $100million, driving home the viability and expansion potential of plant-based proteins.

Source: Meati

What is more astounding is Meati has raised an impressive total of $365 million since its inception seven years ago, which says alot for the substantial interest and potential in alternative protein sources. The new funding will support expansion with the goal of making their mycelium-based chicken and beef alternatives available in over 10,000 US stores by the end of this year.

Contray to 'legacy meat industry promotion', the global plant-based meat market has demonstrated resilience and expansion, with a continuous upward trajectory in sales. In 2022 alone, the global market for plant-based meat surged to $6.1 billion, despite the challenging economic climate affecting retail sectors worldwide.

This growth is supported by a broadening consumer base increasingly drawn to the health, environmental, and 'Earth Friendly' benefits offered by plant-based diets.

Source: Meati

Researchers predict a bright future for the sector, with projected market values reaching as high as $17.08 billion by 2024 end under the most optimistic scenarios. This growth is driven by innovations, enhanced product offerings, and expanding consumer acceptance of plant-based meats as not just alternatives but preferable choices due to their health benefits and taste.

What is more, the industry is also witnessing a notable shift towards fermentation-based meat alternatives, which blend plant proteins with microbes in a controlled environment. This method has gained traction, reflecting the sector's ongoing evolution and its potential to meet consumer demands for sustainability and variety.

These developments suggest plant-based meats are far from being a "dead duck." Instead, they are actively transforming the food industry, aligning with global sustainability goals, and continuing to attract substantial investment, signaling a robust and dynamic future for this 'new food' sector.

For more information about Meati CLICK HERE.

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