Meat Substitute Market Still Miniscule as Compared to Traditional Meat Production

By Snehal Singh, 24 April, 2023

The diet of the natives differs from country to country depending on many factors. A survey done in 21 countries shows 86 percent of people said their diet contains meat, although highlighting that even if the trend of meat substitutes and plant-based products. Thus, consuming meat remains a norm almost in every country.

According to the reports, to satisfy the world's hunger for meat, around 340 million tons of meat will be produced worldwide in 2021. The reason is the typical increase in meat consumption as countries grow wealthier.

A study found that Switzerland, China, and India are only three countries among the lot of 21, where less than 80 percent of respondents said they consume meat. India scores the lowest with 53 percent meat eaters. China counted 79 percent of meat consumers, and Switzerland has 72 percent meat eaters. Report reasons, India's belief in Brahmanism or Vedic religion makes vegetarianism makes this penchant for vegetarian fare.

The studies have also proven that in western countries, vegetarianism is often connected to environmental impact and unethical practices in meat production. In spite of meat consumption in western countries, meat substitutes are also popular equally. Respondents buying it regularly in the U.K. are 21 percent, 11 percent in Austria, and 12 percent in Spain. With China's market having various meat substitutes like seitan and tofu, China ranks highest with 20 percent in the survey.

But reports found that the global indeed grew by an average of 48 percent annually. Still, despite significantly influencing healthy trends and sustainability, its impact remained minute compared to traditional meat production. Freshly processed meat revenues are supposed to reach $1.3 trillion worldwide, whereas meat substitutes could make only $13 billion.

The new lab-grown meat trend is expected to mature soon in different countries. The Food and Drug Administration in the United States declared the products of the first lab-grown meat in November as fit for human consumption, the report says. After the U.S. Department of Agriculture approves, the company will launch its chicken breast soon.

Meat Alternatives and Plant based Meat Industry
The image shows meat alternatives and plant based meat industries trending towards becoming $28 billion market by 2025

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