The Good Food Institute‘s state of the industry report has just been released revealing there was a record $824M invested in alternative protein companies in 2019 and $930M invested just in the first quarter of this year.
SPINS data showed that plant-based meat retail sales grew to $939 million last year, and this growth significantly accelerated at the beginning of the global pandemic. In early 2020, despite Covid-19, several plant-based meat companies raised significant funds.
The GFI cites the following examples of significant investments in Q1 of 2020:
Chinese plant-based meat company Starfield raised its seed round.
The LIVEKINDLY co. was formed with a $200 million investment.
“This record-level investment will bolster the industry and support continued growth and innovation for the long term, ensuring that alternative protein companies have the resources to grow and thrive, particularly during times of short-term market volatility.”