The Food Revolution
The COVID-19 pandemic has transformed many areas of our lives. Chief among these is the area of food. During the pandemic, the food chain, how food is created and delivered, has garnered attention as it has weathered changes brought on by the onset of the COVID-19 virus.
Plant-Based Meat Substitutes
In particular, the meat-processing industry came to the attention of many during the pandemic, due to COVID-19 outbreaks across approximately 200 meat processing facilities in 23 states by May 2021.
As a result of changes in the industry, including plant closures, due to these outbreaks, meat prices increased dramatically. As prices went up, interest also increased in plant-based meat alternatives, such as those provided by the business Meat.
It is possible that Americans will continue to adopt these substitutes. In 2020, 18 percent of Americans were purchasing these products, and half of them intended to continue doing so. That creates strong opportunities for plant-based meat substitutes to enjoy wider adoption throughout the nation in the near future.
Another area of the food supply chain affected by the pandemic has been that of food delivery. Takeout skyrocketed during the pandemic and is likely to remain popular. What investors should expect is a decrease in certain trends, such as "ghost kitchens" that create and deliver food without inhabiting an actual restaurant, if these trends are no longer needed as the pandemic subsides.
Handling limited food resources, particularly in light of the world's growing population, has been a growing concern since the pandemic. Innovations arising to address these concerns sustainable practices, such as minimizing water use or targeting the use of pesticides, can help.
These changes in how food is delivered, produced, and consumed is creating new investment opportunities and new trends that could remain well after the pandemic recedes.