CEO OF TYSON FOODS BELIEVES FUTURE IS MEATLESS.
Tom Hayes, CEO of Tyson Foods has stated that he believes that the future could be meatless and that plant-based protein could be a huge opportunity for his company.
Tyson Foods is one of the world’s largest meat producers and this is an enormous step forward. In an interview with Fox Business, Hayes said, “If you take a look at the Food and Agriculture Organisation stats, protein consumption is growing around the world and it continues to grow. It’s not just hot in the US; 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.”
Tyson Foods also has a 5% share in Beyond Meat which they bought in October 2016. Tyson has a venture capital fund of $US150 million to invest into start-ups developing meat alternatives.
In other news from the company, Tyson announced they will be removing antibiotics from the majority of their products by fall of 2017.