Plant-Based Meat Market Is Over $1 Billion Revenue Over The Pandemic

Plant-Based-Meat-Market-Is-Over-$1-Billion-Revenue-Over-The-Pandemic

The global market obtained a soaring revenue of over USD 1 billion over 2020, according to a new market research.

According to most of the analysts, this occurred because of the COVID-19 pandemic, which is a driving factor in the industry's success. As a result of this, demand soared and meat alternatives become a darling of many investment funds and investors in general.

This new data also outlines industry predictions for the coming decade.

Over the year 2020, the alternative industry expanded its big wins. During the pandemic, more people became much more concerned about their health and meat consumption. Also, the meat market supply chain saw huge disruptions.

This whole situation led to a growing global hunger for plant-based products and the industry has seen an increase in demand.

All researches data gathered by analyzing the impact of COVID-19 on meat substitutes show these numbers. This includes soy, wheat, and pea proteins, including , , , and .

Combined, the industry collected a revenue of $1.769 billion last year alone, the reports state.

Soy-based products are predicted to hold the largest share in the market over the next ten years, but Seitan is set to hold the highest growth rate.

Of the many different regions across the world, it is Asia-Pacific that's expected to see the fastest growth in the sector. This is mostly due to the constant increase in the population, however, with North America being the largest market for plant-based meat products, it is also predicted that they will generate the most of the monies.

This is due to ‘growing public preference'  and the increase in ‘ awareness” the researchers claim.

Moreover, the report states: “The rising concerns regarding food security and sustainability and rising investments in plant-based protein sources are the key driving factors for the meat substitutes market.”

Share with friends:

Leave a Reply

Your email address will not be published. Required fields are marked *

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

The reCAPTCHA verification period has expired. Please reload the page.

There’s Now A Fully FREE Vegan TV Network
UGG Launches Shoes Made From Renewable Sugarcane
Hollandaise sauce for vegans
Tempeh or Tofu: Which Is Healthier for You?
QBS Stuffed Peppers
YOU MIGHT ALSO LIKE
What Exactly Are Vegan Probiotics? How about gut health, and do supplements help?
Maintaining a healthy digestive system is essential to being healthy overall. Here’s...
The 5 Healthiest Cooking Oils for Vegan Diets
Are you looking for a way to elevate your vegan meals? Look no further than cooking with oil!...
Physicians Should Advise Patients to Eat Less Meat and More Vegetables to Prevent Chronic Illness
According to an examination of global dietary guidelines, encouraging people to eat more fruits,...
Taking out the Cow from the equation by making Vegan Meat Directly From Grass Proteins
Schouten Europe and Grassa have teamed together to research the viability of producing plant-based...
What are the advantages of consuming rice?
Rice is ubiquitous. There are billions of people who adore and consume it every day. Here are...
Now is the time to stop using cashmere
Cashmere has a reputation for being an exceptionally comfortable material. Because of its fine...