Are Veganism and Animal Welfare Turning the Tables for Vegan Meat Market?

The global vegan meat market all set to create a revolution – Persistence Market Research

Livestock production’s sustainability is a matter of grave concern in the current scenario as availability of clean meat is the hump. Plus, people across the globe are seen going crazy over meat substitutes. As such, the global plant-based (vegan) meat market is expected to scale new heights in the upcoming period.

Moreover, research states that conventional animal agriculture holds the responsibility of more than one-tenth of carbon emissions worldwide. This is followed by requirement of higher quantity of water, utilization of almost 50% of the arable land all over, and increase in deforestation. The scientists are harping on shifting the base towards plant-based food intake to keep the ecological balance intact.

Vegan Meat Market: Veganism Phenomenon to Rule the Roost?

Veganism is the trend catching up all over. The developed countries are more into plant-based meat, especially after the outbreak of Swine Flu in 2009 and the ongoing pandemic (Covid-19). The other reason is the rising consciousness of people towards animal welfare. Moreover, the same people are convinced that vegan meat is rich in nutrients need for human health. These nutrients are inclusive of carbohydrates, proteins, vitamin B6, fats, and the others.

Green Monday (plant-based social enterprise) states that triple threat in the form of ASF, Covid-19, and avian flu does expose the vulnerability related to protein supply chain. This factor will compel the people all across to choose safer and healthier alternatives, say – vegan meat. In other words, the Covid-19-induced economic recession is likely to bolster the demand for vegan meat in the years to come.

How about Analysing Region-Wise?

Europe holds the largest share of vegan meat market, followed by North America. This could be attributed to the strong message conveyed by incorporating veganism herein. As per “The Meat Atlas”, the UK alone witnessed a 700% rise in people opting for vegan diet between 2016 and 2018. Though the developing economies of the Asia-Pacific were into adoption of animal meat for the last few years, the Covid-19 crisis has prompted them to get back to their basics – veganism! Asia-Pacific is, in fact, expected to top the chart of veganism between 2020 and 2030.

Competitive Landscape

The major players in the vegan meat market include Any’s Kitchen, Beyond Meat, The Vegetarian Butcher, Sunfed, Morningstar Farms, Maple Leaf Foods, Garden Protein International, Impossible Foods, VBites, and Gold& Green Foods.