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Cargill CEO: Plant-Based Will 'Cannibalize' Protein Business

Company anticipates consumer shift away from meat from animals

PIXABAY.com
PIXABAY.com

Cargill CEO Dave MacLennan says his company is preparing for a big shake-up in its business over the next few years, as consumer demand for the new generation of plant-based protein products eats into market share for meat from slaughtered animals.

Successful Farming reports Cargill has been trying to increase its footprint in the plant-based protein space of late, anticipating the consumer shift away from animal protein.

Cargill is a key supplier of pea protein to plant-based patty maker Beyond Meat through a joint venture with Puris Foods, and recently earmarked $475 million to expand its US soybean crushing capability.

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