The plant-based meat market is projected to reach 27.9 billion U.S. dollars by 2025, according to a report from MarketsandMarkets.
The report attributes much of this incredible growth in sales of vegan meat to increasing concerns over the negative health effects of eating animals. Health-conscious consumers are enticed by plant-based meat’s high protein content and lack of cholesterol.
The plant-based meat market has even attracted the attention of industry giants like Bill Gates and Tyson Foods, which opens up a new world of growth opportunities.
The report states:
Companies, both start-ups and established players are entering this high growth market owing to the growing preference for plant-based diets among consumers at a global level. Established food companies such as Cargill (U.S.) and Tyson Foods (U.S.) have invested in start-ups that are producing plant-based meat products; this is further expected to boost sales of plant-based meat products in the coming years.
The authors expect pea protein to be the fastest-growing segment in the plant-based meat market—a protein that has enjoyed a surge of popularity among manufacturers. Unsurprisingly, vegan burgers, one of the most popular plant-based products, are the projected second-fastest grower.
Impossible Foods and Beyond Meat are the two leading players in the market for plant-based burger patties, thanks to a strong distribution network that helps them meet demand across the United States.
More people enjoying savory plant-based meat means fewer animals suffering and dying in factory farms. With more and more delicious vegan products hitting the market, there’s truly never been a better time to switch to a compassionate lifestyle.