Plant-based Meat Market Will Grow Rapidly In Coming Years
Plant-based Meat Industry The global plant-based meat market size is expected to reach USD 24.77 billion by 2030, registering a compound annual growth rate (CAGR) of 19.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth is primarily driven by the increasing adoption of vegan lifestyles and diets among health-conscious consumers, particularly in traditionally meat-eating developed economies. Rising consumer concerns over animal welfare and the significant greenhouse gas emissions associated with conventional meat production practices, coupled with celebrity endorsements of vegan and vegetarian diets, are projected to further fuel the demand for plant-based meat products globally. The Hotel/Restaurant/Café (HORECA) sector remains the predominant consumer of plant-based meat products. Key industry players are actively collaborating with fast-food chains and restaurant groups to promote the adoption of their offerings. For examp...