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Germany-based company Bayer considers entering the booming plant-based meat market.
Bayer is known for its products and services under agriculture and healthcare. After acquiring another business, it is also now the world’s biggest pesticide and seed company.
Recently, an executive at Bayer announced that the company is considering entering the plant-based meat market as an alternative protein supplier. As a plant-breeding business, Bayer sees the growing trend as an opportunity to enter a new industry and gain a lot for its business.
Plant-based meat substitutes, such as vegetable and soy burger patties, have become popular in recent years. Based on a survey done by research firm Mintel, 46% of consumers in the United States alone prefer plant-based meat over traditional meat in their diets. Consumers want to switch from meat products to plant-based alternatives because consuming the former involves health risks, raises concerns about animal welfare, and poses hazards to the environment.
Analysts from Mintel also say that the plant-based meat market is going to grow further. In fact, even companies that produce traditional meat, such as Tyson Foods Inc., Maple Leaf Foods Inc., and Perdue Farms, have started selling meat made from peas or soybeans.
However, Bayer’s plan to become an alternative protein supplier is raising some ethical issues among vegans. According to a report, Bayer engages in business practices that violate the principles of veganism, a lifestyle that avoids all forms of exploitation of animals for food, clothing, or other purposes. For one, Bayer’s admission to using animals in experiments can be held against the company.