Plant-based meat market to surpass $320 million by 2025
In this article (5)
The plant-based meat market will rise from US$150 million in 2018 to over US$320 million by 2025, according to a 2019 Global Market Insights, Inc. report.
Consumers are wanting more meat alternatives, such as those based on wheat, soy, pea, lentils or oats, as awareness about the health benefits of plant based options rises.
Consumers are now more aware of the environmental problems and it has changed the way they buy, with plants requiring less water and space to grow.
The 2019 Global Market Insights’ latest report showed that the pea-based meat market demand has significant gains at over 10.5 per cent by 2025.
In 2018, ground meat wheat-based meat market size was at about $3 million.
The report found that plant-based brands including DuPont, Amy’s Kitchen, Quorn Foods, Maple Leaf Foods, The Vegetarian Butcher, Impossible Foods and Gardein Protein are the key players in the market currently.
Many companies are now planning to expand their products with alternatives to exotic red and white meat such as veal, turkey, quail, tune, rabbit, ostrich, venison and elk.
Questions & Answers
Q.What is driving the growth in the plant-based meat market?
What is driving the growth in the plant-based meat market?
Increased consumer awareness of both the health benefits of plant-based options and the environmental problems associated with traditional meat production are the main drivers. Plants generally require less water and space to grow than livestock.
Q.Which plant-based ingredient is showing strong growth within the market?
Which plant-based ingredient is showing strong growth within the market?
The demand for pea-based meat alternatives is experiencing significant gains, projected to grow by over 10.5 per cent by 2025. This indicates a strong preference or potential for this specific ingredient.
Q.What was the market value for wheat-based ground meat in 2018?
What was the market value for wheat-based ground meat in 2018?
In 2018, the market size for wheat-based ground meat stood at approximately $3 million. This figure offers a specific insight into a segment of the broader plant-based meat market.
Q.Which companies are currently considered major players in this market?
Which companies are currently considered major players in this market?
Key players in the plant-based meat market include DuPont, Amy’s Kitchen, Quorn Foods, Maple Leaf Foods, The Vegetarian Butcher, Impossible Foods, and Gardein Protein. These brands are influential within the sector.
Reader pulse
What's the biggest driver for plant-based meat sales?
22,247 votes so far