US food companies Hormel and Kellogg’s launch their own plant-based meats

Source: CNBC 

American meat and food corporation Hormel will launch its own new plant-based meat brand, called Happy Little Plants while Kellogg’s will add a plant-based product line called Incogmeato to its portfolio in bids to compete with Beyond Meat and Impossible Foods.

Plant-based meat products in the US have surged in popularity as startups have aimed to appeal to traditional meat-eaters who don’t want to compromise on taste, and to vegans and vegetarians who want more options. Barclays projects the “can’t believe it’s not meat” industry will reach $140 billion over the next decade.