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Franchise note: The Great Protein Shake-up?
The world’s food economy is increasingly being driven by a shift of diets and food consumption patterns towards livestock products following with 4% average annual volume growth in global meat consumption over 1990-2018. Poultry and pork continue to undergo a significant increase in production and consumption. Per capita meat consumption increased 93% over 1990-2018. As a result of all this, Jefferies forecasts meat consumption in U.S. dollar terms to grow globally at 3% CAGR over the next two decades to 2040. Alternative meat is seen as a disruptor of the global meat industry and represents a formidable proposition. The meat industry stands at over $1.4 trillion and is set to reach $2.7 trillion by 2040. Alternative meat is still in an embryonic stage with best-case potential of $470 billion of total meat market by 2040 and a worst-case of $90 billion. Such disruption is not without precedent (GMO, dairy), so could a potential Meat Tax and the ongoing crisis in China’s pork industry be the catalysts? FULL REPORT
— Simon Powell, Head of Global Thematic Research