Business

Brazil opens public consultation to regulate plant-based products

The Brazilian government is interested in hearing from food tech startups and other agents directly involved in the production chain of these alternative foods

Publicity photo of NotMayo, NotCo's plant-based mayonnaise. Photo: NotCo/Courtesy.
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  • In the last five years, the plant-based industry began to attract large investors worldwide – also leading giant food companies, such as JBS, Tyson Foods, Unilever, and Nestlé, to make acquisitions and invest in this market;
  • According to The Good Food Institute (GFI), the global market for this segment is estimated to reach between $100 billion and $370 billion by 2035.

This Friday, the Brazilian Ministry of Agriculture opened a public consultation that could be the basis for regulating processed products of plant origin, known as plant-based food, in the country. The deadline for contributions is 90 days. The Brazilian government is interested in hearing from food tech startups and other agents directly involved in the production chain of these alternative foods.

The Brazilian market is coveted not only by food techs born here, such as Future Farm, currently valued at more than BRL 715 million but by Latin American competitors, such as the Chilean NotCo.

READ ALSO: After a smooth launch, The New Butchers aims now at building the plant-based category in Brazil

In the last five years, the plant-based industry began to attract large investors worldwide – also leading giant food companies, such as JBS, Tyson Foods, Unilever, and Nestlé, to make acquisitions and invest in this market. According to The Good Food Institute (GFI), the global market for this segment is estimated to reach between $100 billion and $370 billion by 2035.

READ ALSO: Bezos-backed NotCo receives funding from Shake Shack founder Danny Meyer’s fund

In terms of behavior, what is really driving this industry around the world are flexitarians: people who consume animal protein and its derivatives, but due to medical conditions or just lifestyle, are choosing to eat less and less without losing. the taste, smell and texture of these foods.

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