The Danish government is putting $100 million into a fund dedicated to plant-based food innovation, education, and distribution.
The Plant Fund was established by the Danish Agency for Agriculture. The funds will be set aside until 2030, and the Danish Plantbased Business Association will serve on the board of directors.
Denmark is quickly establishing itself as a leader in the creation of plant-based cuisine, with companies such as Naturli, Dryk, and Cavi-art providing creative and delectable alternatives to traditional animal-based foods. For example, the latter specialized in seaweed caviar.
However, there is potential for improvement, and the new fund will assist in that endeavor. “The industry’s Achilles heel is that the market is too small. We will work to ensure that the fund’s funds are primarily used for market development,” stated Frederik Madsen, the head of the secretariat in the Danish Plantbased Business Association.
Plant-Based In Europe
Denmark isn’t the first country to promote plant-based growth. Farmers developing plant-based agriculture received $90 million from the government last year.
Governments all around Europe are putting money into plant-based diets. Foods for Tomorrow, a plant-based meat business, received €250,000 from a technology fund supported by the Spanish government in 2020. In the same year, the French government announced a €100 million plant protein strategy.
The European market for plant-based foods is expanding. According to research from last year, the industry would increase at a compound annual growth rate of 9.39 percent by 2028. Two important elements driving the increase are health advantages and animal welfare concerns, according to the report.
Another survey from 2021 indicated that over half of Europeans are deliberately reducing their meat consumption. It discovered that 37% of those polled identified as vegan, vegetarian, or flexitarian; 46% had cut back on meat intake in the previous year, and 73% were consuming fewer meat products than a year before.
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