June 4 (Reuters) - The plant-based protein industry will eat
into consumer demand for meat as the rapidly growing sector
expands, Cargill Inc Chief Executive Officer David MacLennan
said on Friday.
"Our analysis is that in ... three to four years plant-based
will be perhaps 10% of the market. We're a large beef producer
and that is a big part of our portfolio. So there's some
cannibalization that will occur," MacLennan said at a National
Grain and Feed Association convention.
Privately held Cargill is a supplier of pea protein to meat
alternative company Beyond Meat Inc through its joint
venture with PURIS Foods.
(Reporting by Karl Plume in Chicago; editing by Jonathan Oatis)