Plant-based pork products sales are forecast to grow multifold over the period of 2020-2030, as predicted by an ESOMAR certified market research and consulting firm. Spurred by awareness of the threat of infections associated with meat consumption, plant-based pork sales are expected to surge considerably in the coming years.
Mainstream outlets such as McDonald’s, and key players such as Beyond Meat and Impossible Foods have launched plantbased pork products in recent months, and Omnipork products are steadily rolling out across Asia to huge acclaim. And as we reported in September, major meat processors around the world are becoming increasingly aware of the consumer intereste and are releasing plantbased pork sausages.
Such factors, along with increasing demand for healthy and cruelty free options is triggering the plant-based pork market to rise rapidly.
Key points from the report include
- The global plant based pork market is forecast to grow from US$ 1,233.8 Mn in 2020 to US$ 10,563.9 Mn in 2030, as predicted by the study analyst
- Europe is expected to be at the fore in the global plant-based pork market with a market share 42.9% in 2020
- Rising concerns regarding animal-borne diseases and recent pandemic outbreaks have been resulting in consumers’ inclination towards plant-based meat
- By the end of 2020, the segment is forecast to account for 40.7% of the market
According to a lead analyst, “Steps taken by animal welfare groups and communities to spread awareness on animal welfare has been a chief driver of the market. This, coupled with inclination for maintaining a greener lifestyle, has been encouraging consumers to replace traditional meat items with plant-based alternatives.”
Some of the leading key players in the plant-based pork market are Impossible Foods Inc., Smithfield Foods, MorningStar Farms, Gardein by Conagra Brands, Cargill Inc., Symrise, Roquette Frères S.A., Crown Soya Protein Group, Tyson Foods Inc., Sotexpro SA, Glanbia plc and Ingredion Inc.