At a group level, virtually all food types have vegan alternatives.
Meat substitute is possibly the largest category now, led by the Beyond and Impossible brands, along with Amy’s Kitchen, Archer Daniels Midland, and the Blue Chip Group.
The global meat substitutes market was estimated at around $1.6 billion in 2019 with projected revenue to reach $ 3.5 billion by 2026 and CAGR [compound annual growth rate] of 12.0% during the same forecast. The vegan market is primarily driven by the increasing demand for plant-based meat products among Millennials and Generation Z, however, all generations have an interest in this new category given the broad appeal and underlying reasons behind this sectors’ emergence. Read More