Plant-Based Meat Market Expected to Be Worth $8.3 Billion by 2025
According to a new MarketsandMarkets’ report, the global demand for plant-based meat is projected to reach a whopping $8.3 billion by 2025. Currently, the number stands at $4.3 billion, so it looks to almost double over the next four years.
With an increasing number of people turning to meatless eats for health, environmental, and ethical reasons, the global market is reflecting this rise in interest. Everyone’s hopping on the plant-based bandwagon!
“Growing vegan and flexitarian populations across the world, rising awareness about the health benefits offered by plant-based meat over animal meat, and growth in government initiatives along with significant investments are driving the global plant-based meat market,” the report reads.
The report is full of juicy nuggets (so to speak) of information about what’s happening with plant based meat, including confirming that soy-based meats still hold the largest share in the market.
Also, North America is the fastest growing region for the market compared to other spots around the world. It also acknowledges the trend of veganism as a contributing factor to the growth of plant-based meats, and gives a nod to Beyond Meat and Impossible Foods are major players in the industry.
It’ll be interesting indeed to see what the next few years hold as far as innovations in the plant-based space!
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