Alternative meat companies are creating products to help dial back on meat consumption. By doing so, they are changing how we see meat. Revenues have increased across the globe, set to reach $6.3 billion by 2023.
BUSINESS INSIDER: ‘There’s a burger fight going on in the supermarkets, and cows are watching from the sidelines. Alternative meat sales have increased across the globe. The market is set to reach $6.3 billion in revenue by 2023. Big meat brands are trying to get a slice of the pie… The reason for all this growth can be traced to flexitarians, people who seek protein alternatives. In the US, about six percent of people consider themselves vegan. In 2014, it was only 1%. The business is booming globally. Europe has seen an increase in meat substitute sales by 451% in just under four years.
Another reason is sustainability. Agriculture today accounts for about a third of greenhouse gases. Half of those emissions come from livestock alone. Alternative meat companies are creating products to help dial back on meat consumption. By doing so, they are changing how we see meat… Alternative meat options are taking over the restaurant industry, too. Homegrown Smoker in Portland has an entirely vegan barbecue menu.
With all these new types of alternatives popping up, the future of the meat packing industry is possibly not going anywhere. Although the fake meat business is growing, the size of the US meat industry is still immense. The meat industry costs the US up to $289 billion a year. By 2050, that number could be as high as $1.6 trillion. But as the flexitarian demographic increases around the world, more animals will view this match from outside the ring’. SOURCE…