One Green Planet reports a major move in the international plant-based movement. The Canadian government is investing $150 million in the plant-based protein market in an effort to meet rapidly growing demand for meat-protein alternatives.

Frank Hart, chair of the Protein Industries Canada group that put together this bid, said the global plant-protein market, estimated to be worth around $13 billion, is expected to grow by up to 98 percent by 2050. He stated, “It’s a market that’s expected to expand in a significant way.” A Nielsen survey reported that 43 percent of Canadians are actively including more plant-based foods in their diets.

Although the $150 million from the federal government has yet to be fixed, Hart says the investment is expected to help garner another $400 million from private investors. Funds are planned to go toward improving farming methods, to new food creations with flax, hemp, oats, lentils, chickpeas, peas, and beans, and discovering new ways to extract plant protein.