News

Meat-Free Meat Market to Reach $7 Billion by 2025

As consumers increasingly choose meatless lifestyles, research firm Key Market Insights predicts the worth of the meat-alternatives industry will almost double in coming years.

A new report released last week by market research firm Key Market Insights (KMI) predicted the value of the global meat substitute market to increase to $7.02 billion for 2025—an increase from the $4.01 billion the market was worth in 2016. KMI revealed that the industry will grow at a compounded annual growth rate (CAGR) of 6.3 percent from 2017 until 2025. KMI reveals that the top drivers for the growth of meat alternatives are health concerns and a rising consumer preference for a vegetarian diet. “Cashing in on the increasing health consciousness of the people, change in dietary plans, recent outbreak of animal diseases, and the need for an alternative to meat due to harmful effects of over-consumption of meat,” the report states, “the meat-substitute market is expected to witness substantial growth in this sector.” KMI’s report bolsters predictions made by other market research firms about the growth of plant-based alternatives to animal products, including that of Bharat Book Bureau, which places the vegan cheese industry at $4 billion by 2024.

More News

IKEA Debuts Plant-Based Hot Dogs

The furniture giant debuted the new animal-free option at a single store in Sweden with plans to expand the offering across Europe by August.
Read More »

Rooney Mara Launches Luxury Vegan Fashion Line

New fashion brand Hiraeth includes faux-leather pants, velvet garments, and combat boots—all made ethically in Los Angeles.
Read More »

NYC Meat Emporium Now Serves Vegan Beyond Sausage

Sausage bar Schaller's Stube—an offshoot of 80-year-old meat company Schaller & Weber—has added three vegan hot dog options to its menu.
Read More »

Vegan Truffles Beat 141 Brands in Blind Taste Test

Chocolates made by United Kingdom brand Booja-Booja received top honors in Good Housekeeping's annual Easter Egg Taste Test.
Read More »

POC-Owned Vegan Lipstick Brand Debuts at Target

Vegan Bawse Lady red lipstick, and other hues aimed at women of all skin tones, will be available at 100 Target stores by May.
Read More »

This Week on VegNews TV: The secret to these delightful sweet treats is white beans! Aylin Erman shows you how to make these simple blondies.

More Videos »