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 meat 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 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 protein 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 products and the industry has seen an increase in demand.

All researches data gathered by analyzing the impact of on substitutes show these numbers. This includes soy, wheat, and pea proteins, including tofu, tempeh, seitan, and Quorn.

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 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 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Your email address will not be published.

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

Quinoa salad
With These Medicinal Plants, You Can Ease Stress And Anxiety Naturally
Confetti Arctic Roll
Impossible Foods Raised Nearly $2 Billion To Make Animal Foods Obsolete
Plant-Based Meat Will Be Cheaper Than Animal Meat Sooner Than Expected
YOU MIGHT ALSO LIKE
Tempeh with miso-mayonnaise and roasted baby bok choy
This umami-rich dish features tempeh that has been pan-seared with spicy, grainy mustard and...
Black beans-spiced barbecue burgers with caramelized onions
This is your new favorite vegetable burger: meaty, juicy, and with a touch of heat. Ingredients...
Vegan white bean & seitan pozole verde
This delectable Mexican dish is a great contrast to steamed, brothy stew topped with crunchy...
The Increasing Popularity of Veganism and Four Good Reasons to Consider Making the Switch
Going vegan may enhance your sleep, energy levels, and general wellbeing. But not only that,...
Plant-Based Food Is Now A Common Treat - But Why Are Brands Still Ignoring Vegans?
In the year 2017, a well-known food and drink company generated a commotion after publishing...
5 vegan-friendly beach towns you need to visit
We are counting down the days till summer begins and can’t wait to hit the waves and...