In recent years, the global food industry has experienced a significant transformation as an increasing number of consumers adopt plant-based protein alternatives. The rising demand for veggie burgers, meatless sausages, dairy-free milk, and plant-based yogurts not only reflects changing consumer preferences but also highlights a growing awareness of the environmental, health, and ethical impacts of our food choices. Here we’ll explore the dynamic world of plant-based meats, their market growth, health benefits, and key industry players.
Plant-based meats are designed to replace regular meat consumption by mimicking the taste and texture of animal meat. Unlike traditional replacements like tofu and dairy substitutes, these new products closely imitate real meat. Common ingredients used in plant-based meats include quinoa, soybeans, lentils, and peas.
The global plant-based meat market is rapidly growing, driven by health, environmental, and ethical considerations. Innovations in food technology have significantly improved the taste and texture of plant-based meats, making them appealing to a broader audience. The market now offers a wide variety of products, from burgers to chicken and fish alternatives, available in both grocery stores and restaurant menus. Increased investment and collaborations in the industry are fueling further advancements and expansion, making plant-based meats a mainstream choice for many consumers.
The global plant-based meat market size is projected to increase from $8.8 billion in 2023 to $17.1 billion by the end of 2028, with a compound annual growth rate (CAGR) of 14.1% from 2023 through 2028, according to BCC Research.