Vegan Steak Market to Be Worth Over $1Bn by 2032, Growing With 6.2% CAGR
According to a report by Polaris Market Research, the global vegan steak market is set to grow with a CAGR of 6.2% through to 2032, reaching a value of about $1.02 billion — up from $562.48 million in 2022. North America will have the largest market share throughout the forecast period, followed by Europe and the Asia Pacific. Growth will be driven by increasing interest in plant-based diets, along with improved technology for producing meat alternatives and the increased availability of vegan steak in restaurants. Health concerns will also be a key driver of the market, with red meat increasingly associated with chronic diseases such as colon cancer and cardiovascular disease. Earlier this year, Beyond Meat’s bestselling plant-based steak became the first meat alternative to …