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Generation Z is creating a $5 billion market for plant-based meat and seafood, according to new research.
The generation – which includes people born between 1995 and 2005, and makes up a quarter of the U.S. population – is shaping a billion-dollar food market, say Barclays researchers.
Expected to account for 40 percent of all consumers by 2020, members of Gen Z are embracing the food trend that replaces animal products with plant-based alternatives.
Allied Market Research expects the vegan meat market to reach $5.2 billion globally by 2020.
A recent report has also shown that Generation Z consumes 57 percent more tofu and 550 percent more plant-based milk than millennials.
“College campuses feed the consumers of tomorrow,” Sharon Olson, co-founder of Y-Pulse, told Civil Eats in an article about seafood alternatives rolling out in dining halls.
“These students are developing habits of a lifetime, including products they’ll look for when they graduate.”