PepsiCo and Beyond Meat have formed a new partnership that will develop, produce and market snacks and beverages made from plant-based protein.
Announced on Tuesday, the so-called PLANeT Partnership will bring together Beyond Meat’s innovation expertise with PepsiCo’s marketing and commercial capabilities. Beyond Meat is a Los Angeles-based producer of plant-based meat substitutes, while PepsiCo is a multinational food, snack and beverage corporation headquartered in New York state.
“We look forward to combining their unparalleled expertise with our world-class capabilities in brand-building, consumer insights and distribution,” Ram Krishnan, PepsiCo Global Chief Commercial Officer, said in a release.
Founded in 2009, Beyond Meat was founded with the goal of creating plant-based products that mimic meat’s taste and texture, with a focus on simple ingredients and no GMOs or bioengineering. Fast forward to 2021, Beyond Meat products are available at approximately 122,000 locations in more than 80 countries.
Investment firm UBS projects growth of plant-based protein and meat alternatives to increase from $4.6 billion in 2018 to a whopping $85 billion by 2030.
Western Canada is home to a growing number of new processing plants, including the $600-million Roquette facility at Portage la Prairie, which is expected to use up to 125,000 tonnes of Yellow peas each year when running at full capacity.
Source: DePutter Publishing Ltd.
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