IndusFresh Details

By TPCI | June 23, 2019

Plant-based meat alternatives that look and taste as meat are taking the food market on storms. A generic inclination towards vegan diets is giving rise to a new dimension to the world food market. But this market is something which is very nascent and at the same time wraps some huge potentials. While the alternative meat market could grow to be worth $140 billion globally in the next ten years, according to Barclays, it’s still a small percentage of the current $1.4 trillion global meat market which is also showing no signs of slowing down.

Companies like Impossible Foods and Beyond Meat are making plant-based protein products for the masses, and the outlook appears promising. Also, the fast food chains are introducing vegetarian burgers on their menus and infact Burger King began rolling out meatless Impossible Whoppers at all of its 7,200 locations in the U.S. Then a lot of movements such as “Meatless Monday,” which encourages people to adopt vegetarian diets at the start of each week, and “Veganuary” — a movement which saw a record 250,000 people pledge to eat vegan for the month of January, have shown up in the near past. However, some critics argue there is no conclusive evidence that alternatives have better nutritional value than real meat.

Despite the trend in eating plant-based “meat,” global consumption for meat is still on the rise, driven in part by countries like China and Brazil which saw a massive increase in recent decades. Besides, a strange notion associated to the meat consumption now-a-days is as countries get wealthier, there’s a tendency to eat more meat as a sign of wealth, as a sign of like, ‘I can afford it’. Globally, the average amount of meat consumption has nearly doubled over the past 50 years. Although, countries including the U.S. and the U.K. may have reached a so-called “Meat Peak” — which means total meat consumption has hit a peak and declined slightly recently. In addition to that, one in three people in the U.K. says they have stopped or cut down on eating meat, according to a recent survey. But the meat consumption remains increasing and this is what leaves the nutritionists, and us, a little perplexed with the global trends.