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Cargill is one of the 4 largest meatpackers in the US. Some of the numbers associated with this agribusiness giant are 21% US market share, daily slaughter capacity of 29000, and annual revenue of 114.7 billion USD.
Cargill recently announced that it is entering the plant-based meat market this month with its own hamburger patties and ground meat to compete with companies like Impossible Foods and Beyond Meat.
Following the lead of companies like Tyson Foods and Smithfield Foods, who have caught on to the trend earlier, Cargill has finally joined the race to meet the rising demand for plant-based meat alternatives.
The growth of plant-based meat and alternative protein market is attributed to the rise in health-conscious population and the growing concern over the environment and animal welfare.