The market for plant-based alternatives to meat, dairy, and eggs is rapidly growing! A new report by Allied Market Research forecasts that the meat alternatives market will reach $5.2 billion by 2020.
A report overview states that “increasing health awareness coupled with increasing consciousness towards environmental sustainability and animal welfare have been the major factors driving the growth of meat substitute market.”
Some of the plant-based meat manufacturers profiled are Beyond Meat, Gardein, Quorn, and Morningstar, all makers of delicious meatless meat options.
The results show an annual increase of 8.4 percent in sales of tofu and soy products as well as vegetable-based proteins.
This trend toward plant-based eating isn’t limited to the U.S. The report reveals that while North America and Europe are the largest consumers of meat alternatives, Asia-Pacific is now the largest growing market.
The trend doesn’t stop at your grocery store either. “Meat alternatives have seen double-digit growth in recent years, and the report predicts that fast-food companies such as KFC, McDonald’s, and Burger King will ‘strengthen their meat substitute product line to meet the increasing consumer demand.’”
This exciting news comes on the heels of decisions by national restaurant chains, including White Castle, Wendy’s, and Subway, to offer healthy meatless substitutes on their menus.
Join the movement! Click here for more information on increasing the availability of plant-based options on menus, in grocery stores, and in cafeterias.