American Flatbread recently announced the launch of its new line of plant-based, flash-frozen pizzas, called Meatless Evolution. The new brand includes vegetarian and vegan options, which have been amongst the most highly requested items by the company’s consumers.
Technavio
The Plant-Based Meat Market is Expected to Grow by $3.17B Over the Next Four Years
The recent report from the market research company, Technavio, estimates that the Plant-based Meat Market is expected to grow by $3.17B, at a CAGR of 17% by 2024. The report includes the geographical areas of APAC, Europe, MEA, North America, and South America. And the types of plant-based meat mentioned include beef, chicken, pork, and others.
Veganism Fuels the Nut Oil and Nut Butter Markets
According to Technavio’s market research report, the global market for nut oils and butters is expected to grow at an annual rate (CAGR) of close to 6% between 2018 and 2022. Technavio mentions several influencing factors for this positive trend, with the growing global vegan population already regarded as a primary factor. In addition, the report provides an analysis of key trends that may or will affect market prospects over the forecast period.
Plant-Based Rennet: Vegan Lifestyle Drives Demand
In a recent market research report, British market analyst Technavio forecasts annual growth of around 7% for the global market for rennet between 2018 and 2022. Due to the worldwide trend towards a more conscious plant-based diet and lifestyle, Technavio also sees high growth potential for animal alternatives such as microbial rennet, plant-based rennet and FPC.