A new report from Research and Markets, the world’s largest market research store, cited the growing trend of veganism as a major factor slowing the growth of the pepperoni market. The report attributed the trend towards plant-based protein to an increase in consumer consciousness and concern about ethical food systems, health-awareness, and sustainability issues. Market researchers also stated that there is a growing demand for transparency in all stages of the production of processed meats, and as consumers seek out these labels, product costs increase. Many processed-meat companies have begun to recognize the increasing demand for plant protein, such as Tyson Foods, which recently invested in vegan meat company Beyond Meat and is planning future investments into plant-protein companies.
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