Plant-Based Meat Industry Surges in Popularity Amid Rising Demand for Sustainable Foods
The plant-based meat market is on an upward trajectory, set to climb from $8.5 billion in 2023 to $9.94 billion in 2024, with a steady growth rate of 16.9% according to a report by The Business Research Company.
The shift is palpable; as consumer tastes evolve toward sustainable, eco-friendly foods, plant-based products find themselves in the spotlight. These alternatives, crafted to mimic the flavor and texture of meat, are now more than a novelty—they’re becoming everyday options.
What’s fueling this shift? A mix of environmental concern, awareness of animal welfare, and a desire for healthier diets. “The expansion of the food and beverage service industry is anticipated to drive the growth of the plant-based meat market in the future,” the report suggests.
Restaurants, food chains, and grocery stores are stepping up to meet demand, making plant-based items more available than ever.
Leading the charge are brands like Beyond Meat and Impossible Foods, along with food giants such as Kraft Heinz. Their offerings span burger patties, sausages, nuggets, and even meatballs, bringing variety to the table.
Partnerships within the industry fuel this growth, as companies pool resources to drive innovation and expand their product lines.
By 2028, the report predicts the plant-based meat market could reach $17.23 billion, with a slightly lower growth rate of 14.7%. Regions like North America and Asia-Pacific are leading the way, with Western Europe close behind.
Not just for vegetarians anymore, these products are designed to appeal to the carnivores among us, those who may be seeking a taste of something new without compromising their values.
While the industry’s future looks bright, it faces challenges too. Yet, as companies innovate and expand, plant-based meats are finding their place on menus and in households worldwide—changing the way we think about meat, one bite at a time.
Interested in how plant-based meat alternatives are changing diets worldwide? Check out our homepage for the latest on this industry trend.
