People who are concerned about environmental or health or animal welfare issues should skip the next paragraph.
The global meat market had revenues of US$1.223tril in 2019, of which processed meats made up US$519.41bil, just over 42% of total meat production. Apart from fresh vegetables and grains/beans, most packaged vegetarian/vegan meat substitutes available in supermarkets are classified as “processed foods”. Therefore, as a comparison against processed meats, processed plant products only managed US$11.1bil in revenues, around 2% of processed meats. Even allowing for rapid growth, processed plant products may reach US$35.5bil by 2027, a doubling of market share, but still dwarfed by processed meats estimated at $862.97 bil by then.
Already a subscriber? Log in
Play, subscribe and stand a chance to win prizes worth over RM39,000! T&C applies.
Cancel anytime. Ad-free. Unlimited access with perks.
