CHICAGO – Burgers made from plants instead of animals are capturing more space on U.S. barbecue grills this summer, fueling sales in the niche products that could reach $5 billion globally by 2020.
Plant-based meat foods are now available that include beet juice for color and canola oil to simulate fat. These changes are not only pulling in consumers but also one of the powerhouses in traditional meat production, Tyson Foods Inc (TSN.N).
Tyson jumped into the sector last October when it bought a 5 percent stake in California-based Beyond Meat. Tyson's Chief Executive Officer Tom Hayes has said demand for plant-based protein is growing a little faster than for animal-based.
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