According to a recent study by Grand View Research, Inc., the market for plant-based meat is anticipated to reach USD24.8bn by 2030, growing at a rate of 24.9% CAGR between 2023 and 2030. Health-conscious customers in traditionally meat-eating developed nations are anticipated to accelerate the adoption of the vegan lifestyle and diet over the course of the projection period.
Over the forecast period, the plant-based sausage market is anticipated to grow at a CAGR of 26.8%. Global product demand is expected to be boosted by shifting consumer preferences toward plant-based diets and increased sausage consumption through retail channels due to flavor, texture, and convenience.
In 2022, the soy-based product segment had more than 48.55% of the market’s revenue share as a result of its high protein content and extensive appeal.
Additionally, the demand for plant-based meat products in the region has increased due to the growing vegan diet trend in European nations. The largest vegan population in the world presently resides in the United Kingdom, which is famous for its wide choice of fresh and premium meat dishes.
Find out more at: https://www.grandviewresearch.com/