Vegan Meat To Grow By 15% Per Year With Traditional Meat Growth Just 3%, Says Report

Vegan Meat To Grow By 15% Per Year With Traditional Meat Growth Just 3%, Says Report

By

(updated 1st October 2020)

2 Minutes Read

The vegan meat is projected to grow significantly in coming years (Photo: Adobe. Do not use without permission) - Media Credit:

The plant-based meat market is set to surge in coming years, as traditional meat stays fairly stagnant, according to a report.

The report, titled European Consumer Survey On Plant-based Foods, by food organization Proveg International, looks at opportunities for food producers in the plant-based sector.

Plant meat .v. animal meat

In a statement sent to Plant Based News, Proveg said that for predictions on the growth of plant-based categories, manufacturers can look to the market for plant-based meat alternatives.

It cites data from Markets and Markets which predicts that plant meat will grow at an annual rate of around 15 percent reaching almost 28 billion US$ by 2025.

Proveg says that the global meat market, by comparison, is only predicted to grow by three percent a year, according to Kearney.

Plant-based cheese is the product most plant-based eaters and meat reducers want to see on shelves (Photo: Adobe. Do not use without permission)

Opportunities

After looking at the growth potential of plant-meat, ProVeg polled 6,221 consumers across nine European countries ‘in order to identify priorities for product improvement and development, based on consumers’ experience of purchasing and consuming plant-based products’.

ProVeg discovered that animal-free cheese is the product that both reducers and plant-based eaters would most like to see more of in supermarkets, followed by ready meals. Reducers ‘would also like to see more plant-based meat alternatives which mimic meat, while plant-based eaters are looking for more plant-based baked goods and chocolates’.

‘Huge opportunities for growth’

“Both plant-based cheese and ready meals represent huge opportunities for growth,” Verena Wiederkehr, head of food industry and retail, ProVeg International, said in a statement sent to PBN.

“We recommend that manufacturers focus on expanding their ranges of these in-demand products and, particularly in the case of plant-based cheeses, work on improving taste and texture.

“The data supports the view that good quality, affordable plant-based cheeses have a good chance of penetrating, capturing, and retaining a large part of a fast-growing and lucrative sector.”

She added that major growth opportunities have also been revealed in plant-based seafood and egg alternatives and that ProVeg recommends that manufacturers seriously consider expanding their product portfolios to include plant-based seafood. She also said that ‘plant-based egg space is another major opportunity that is ripe for investors looking to support innovative startups’.

Millions around the world trust Plant Based News for content about navigating our changing planet & our role in it.

Our independent team of journalists
and experts are committed to making an impact through a wide range of content—and
you can help by supporting our work today.

buttons/scroll-to-top/scroll-to-top-small-active