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COVID-19 Impact on the Plant-Based Meat Market
According to MarketsandMarkets, the global plant-based meat market size is projected to grow from $3.6 billion in 2020 to $4.2 billion by 2021, recording a compound annual growth rate of 17.0% in the realistic scenario during the forecast period.
The pea segment is projected to be the fastest-growing segment in the plant-based meat market during the forecast period.
The use of pea in plant-based meat has gained significant prominence over the past two years, driven by companies such as Beyond Meat (US), R&S Blumos (Brazil), and other regional players who are...
MarketsandMarkets: Plant-Based Protein Market Worth $40.6 Billion by 2025
According to MarketsandMarkets, the plant-based protein market is currently estimated at $18.5 billion, and is projected to grow at a compound annual growth rate of 14% by 2025. This projection totals a value of $40.6 billion by 2025. As demand for plant-based protein products increases, food and beverage manufacturers will be driven to create such products.
During the forecast period, the pea segment is expected to be the fastest growing in the alternative protein market. Pea protein is gaining popularity among plant-based protein manufacturers at a global level due to...
Cultured Meat Market Forecast to Grow by 2032
According to MarketsandMarkets, the cultured meat market size is estimated to be valued at $214 million by 2025, and projected to reach $593 million by 2032. This projection will lead to a compound annual growth rate of 15.7% from 2025 to 2032. The rising consumption of meat along with increasing demand for nutritional meat are a few of the key factors driving the growth of the industry. When considering the categories of poultry, beef, seafood, pork, and duck, the poultry segment is projected to witness the fastest growth during the forecast. This is due to the availability of poultry when compared to other meat sources such as beef, and also the consumer preference for poultry and poultry products.
The increasing popularity of poultry products in many quick service restaurants has encouraged manufacturers to develop innovative alternative products to meet consumer demand. Additionally, the rising demand for chicken, due to...
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