Meat Alternatives Market Valued at $4 Billion in 2017

The plant-based meat market is predicted to boom in the next decade to feed the growing population, which is expected to reach nearly 9 billion people by 2050.

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A new market insight report by research firm Visiongain predicted that the global meat alternatives market will be worth $4 billion in 2017. The report highlighted global brands—such as Amy’s Kitchen, Beyond Meat, and Pinnacle Foods (parent company to Gardein)—and various types of meat alternatives including tofu, seitan, and pea protein, to illustrate the scope of meat-free market in the coming decade. “The meat alternatives market is relatively small today,” Visiongain states, “but all the factors analyzed in this report illustrate that the industry will exhibit significant growth in the next ten years, providing excellent commercial opportunities.” Visiongain’s findings are corroborated by research firm Allied Market Research which estimated the meat alternatives market to reach $5.2 billion by 2020.

Photo courtesy of Quorn Foods