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A Cargill meat processing plant in Springdale, Arizona. Photo: Spencer Tirey/Getty Images

Agriculture giant Cargill will begin producing plant-based patties and ground "fake meat" products in April, the company announced Monday.

Why it matters: Cargill, one of the largest privately held companies in the U.S., presents new competition for startups Beyond Meat and Impossible Foods alongside meat giant Tyson Foods, which is rolling out its own plant-based products, Axios' Rashaan Ayesh reports.

What they're saying: "Cargill has a strong history of providing high-quality protein products to customers," Elizabeth Gutschenritter, managing director of Cargill’s alternative protein team, said.

  • "Producing plant-based products across our global supply chain is the logical next step to expanding our ability to meet consumer needs and bring new value to this category."

The big picture: Investment firm UBS projects that the market for plant-based protein and meat alternative products will increase from $4.6 billion in 2018 to $85 billion in 2030.

Go deeper: The next frontier for plant-based meat

Go deeper

In photos: D.C. and U.S. states on alert for pre-inauguration violence

National Guard troops stand behind security fencing with the dome of the U.S. Capitol Building behind them, on Jan. 16. Photo: Kent Nishimura / Los Angeles Times via Getty Images

Security has been stepped up in Washington, D.C., and state capitols across the U.S. as authorities brace for potential violence this weekend.

Driving the news: Following the Jan. 6 insurrection at the U.S. Capitol by some supporters of President Trump, the FBI has said there could be armed protests in D.C. and in all 50 state capitols in the run-up to President-elect Joe Biden's inauguration Wednesday.

The new Washington

Illustration: Sarah Grillo/Axios

The Axios subject-matter experts brief you on the incoming administration's plans and team.

Rep. Lou Correa tests positive for COVID-19

Lou Correa. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Lou Correa (D-Calif.) announced on Saturday that he has tested positive for the coronavirus.

Why it matters: Correa is the latest Democratic lawmaker to share his positive test results after last week's deadly Capitol riot. Correa did not shelter in the designated safe zone with his congressional colleagues during the siege, per a spokesperson, instead staying outside to help Capitol Police.

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