According to Arizton Advisory and Intelligence, a producer of market research reports, the global plant-based meat market size is expected to grow at a CAGR of over 18% during the period 2019−2025. The report discusses the African Swine Fever disruption, the growth of pea protein, and the increased demand for environmentally-friendly meat replacements.
Report Estimates US Plant-Based Meat Market to Reach $5.25Bn by 2029
According to a report by Arizton, the US plant-based meat market is “thriving” and is expected to reach a value of $5.25 billion by 2029. This figure is up from $2.25 billion in 2023, meaning the market will grow at a CAGR of 15.18%, finds this projection from Arizton. Increased concerns about health, the environment, and ethics will be the key market drivers, along with technological advancements. The growing availability of plant-based products will also help to drive growth. Consumers demand clean-label products & lower prices Consumers will increasingly demand clean-label plant-based meats over the forecast period, seeking options perceived as less processed and more natural. By becoming aligned with clean-label standards, plant-based meat producers can present their products as a healthy option. For example, …