The new CEO of Tyson Foods, Inc. one of the best-known names in meat processing, has a decidedly un-carnivorous take on what he suspects may be the state of everyone’s diet years from now.
As reported by Fox Business, Tom Hayes, now the head honcho at Tyson, believes that the trend toward an increasingly plant-based diet is going to continue relatively unabated.
“If you take a look at the FAO (Food and Agriculture Organization) stats, protein consumption is growing around the world—and it continues to grow. It’s not just hot in the U.S.; it’s hot everywhere, people want protein, so whether it’s animal-based protein or plant-based protein, they have an appetite for it. Plant-based protein is growing almost, at this point, a little faster than animal-based, so I think the migration may continue in that direction,” Hayes said in an interview with FOX Business.
This appears to be more than merely a thoughtful prediction from an industry insider; in fact, Hayes and the company over which he now presides seem to have taken a bit of a lead in moving that way. For one thing, Tyson now owns 5% of Beyond Meat, a startup producer of meat that is entirely plant-based. Beyond Meat’s alternative to chicken, branded as Beyond Chicken, is made from a mixture that includes soy and pea proteins and fiber, while its beef alternative, Beyond Beef (what else?), is made from pea proteins, canola oil, and seasonings.
In addition to its interest in Beyond Meat, Tyson has also started a venture capital fund for the purpose of investing in new companies seeking to develop meat substitute products, according to the FOX Business report.
The information contained here is for general information purposes only. The Financial Writer blog and Bob Yetman disclaim responsibility for any liability or loss incurred as a consequence of the use or application, either directly or indirectly, of any information presented herein. Nothing contained in this article, or any other article featured at this blog, should be construed as a solicitation or recommendation to engage in any financial transaction. You should seek the advice of a qualified professional before making any changes to your personal financial profile.