Market of substitutes for food of animal origin growing

Until 2035 plant-based alternatives to animal products are expected to account for up to 11 percent of the global protein market. The positive scenario, which assumes obtaining full regulatory and technological support, provides for even a 22 percent share. Environmental awareness, ethical and health factors are increasingly influencing food choices. As a result, almost 40 percent of Poles declare that they actively limit meat consumption.

The head of the British Burger King announced in March this year that by 2031. as much as 50 percent of the products on the UK's menu will be of plant origin. In turn, McDonald's, a global giant in the field of fast food, established in February this year cooperation with Beyond Meat – a leader on the market of vegetable meat substitutes. Under a three-year strategic agreement, the company has become a supplier of plant-based products that will be introduced into the chain's menu on a global scale. These events only illustrate the trend that Venture INC describes in its report. The investment fund mainly considered the segment dealing with the production of food substitutes of animal origin and new approaches to existing food products.

According to SPINscan, the growth level of the plant substitutes market remains at the level of 18.8 percent y/y. In 2019, this market was valued at $4.3 billion, it is estimated that the value will increase to $12.15 billion already in 2025, and ultimately will reach over $290 billion.

At the same time, the meat industry is not going to leave the podium. Currently, its value is estimated at $1.146 trillion and the growth rate is 2.7 percent y/y.

(WBJ)