In a new report, the market research company Transparency Market Research points to considerable growth in the market for plant-based meat products in the forecast period 2017-2025. This market segment is driven primarily by the increasing health awareness of consumers with regards to nutrition and also by the health benefits associated with vegan diets.
A plant-based meat product is defined as any product that contains purely plant-based ingredients and is a meat substitute or alternative to meat. These products have a protein content similar to that of conventional meat products. Plant-based meat products are generally produced either by fibre spinning or by thermoplastic extrusion. Thermoplastic extrusion is currently the most common method of production, since it is comparatively cost-efficient and allows higher production quantities. Fiber spinning, on the other hand, is often associated with high production costs, which in turn leads to high sales prices.
The positive development of the meat replacements market is being boosted by the growing nutritional awareness of many sections of the population worldwide. As a result of changes in the dietary preferences of many consumers, an increasing rejection of animal products is being observed. Consumers are increasingly consuming organic, vegetarian and/or vegan products.
Transparency Market Research’s report highlights five different regions of the world: North America, Latin America, Europe, Asia-Pacific, the Middle East and Africa. Characteristic of the Asia-Pacific region is the high popularity of the vegan staple foods tofu and tempeh. In addition, Europe and North America in particular are currently regarded as emerging markets for plant-based meat products.