The global plant-based sausage market is set to be worth a staggering $6.3 billion by 2028, according to new data.
Future Market Insights’ latest report predicts the market to grow to expand at more than 26 percent year-on-year – surpassing $1 billion by the end of next year.
Drivers for the growth include a growing number of ‘health-conscious’ consumers who’re shifting from meat-based sausages to vegan alternatives, as well as the growing use of plant-based sausages in the foodservice industry, and ‘rising demand for plant-based products’.
The report also states that Europe will ‘remain the biggest market growing prolifically throughout 2028’ and that soy-based sausages will remain the ‘preferred source’ throughout the forecast period.
Meanwhile, The Food and Agriculture Organization of the United Nations notes a decline in meat production, which up until recent years has risen every year for the past six decades.
An analyst for FMI said: “The plant-based sausages market growth is supported by a rising awareness pertaining health and the subsequent decrease in meat uptake.
“This limited consumption of meat products has further ushered in a decline in production, making way for plant-based sausages market expansion.”
You can read the full report here