In Washington, D.C., the alternative protein industry raised $3.1 billion in investments in 2020—three times more than in any single year in the industry’s history, according to Good Food Institute. Of the $5.9 billion raised by alternative protein companies over the past decade, more than half was received in 2020 alone.
New data released by The Good Food Institute (GFI) reveals that 2020 saw a stunning $3.1 billion in investments in companies creating sustainable alternatives to conventional animal-based foods, including plant-based meat, egg, and dairy companies; cultivated meat companies; and fermentation companies devoted to alternative proteins. This record surge in capital investment was three times more than what was raised in 2019 and 4.5 times more than 2018.
“Over the past year, the alternative protein industry has demonstrated not only resilience but acceleration, raising significantly more investment capital in 2020 than in prior years,” says GFI director of corporate engagement Caroline Bushnell. “These capital infusions and the funding still to come will facilitate much-needed R&D and capacity building to enable these companies to scale and reach more consumers with delicious, affordable, and accessible alternative protein products.”