Meat Substitute Market On The Basis Of Source, Distribution Channel, And Region
Meat Substitute Industry Overview The global meat substitute market size was valued at USD 9.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 42.1% from 2022 to 2030. Intensive animal husbandry has been criticized by some sections of society because of its negative effects on the environment and animal welfare. This has led to the emergence of diets that exclude or limit the use of animal products. This is expected to facilitate the growth of the market for meat substitutes. The outbreak of the COVID-19 pandemic has drastically impacted the consumption pattern of traditional meat due to rising health consciousness among consumers. The fear of an increasing number of animal-borne diseases has raised health concerns among consumers, which has resulted in decreased intake of animal products. Consumer awareness of plant-based meat substitutes is rapidly growing, with more people demanding these because of their stated health benefits, such as the p