Nils-Gerrit Wunsch
Research expert covering foods trends in North America, Europe, and the global food system
Get in touch with us nowIn 2023, the market value of plant-based meat substitutes worldwide was estimated to be worth 10.15 billion U.S. dollars. This figure is estimated to steadily increase over the coming years and reach roughly 16.78 billion in 2028.
Meat substitutes
Meat substitutes are plant-based products that try to emulate meat products in taste, texture, smell, and appearance. These alternatives exist in a high variety of forms, like the diversity of meat products they are imitating. Plant-based products have achieved a strong position in the market and are now a mainstay in many grocery stores around the world. Currently, over 670 million kilograms of meat substitutes are consumed globally. Consumer adoption varies significantly across the globe. Vietnam, the UK, and Hong Kong show the highest rate of regular consumption of meat substitutes among their populations.
Meat Substitutes in the United States
In the United States, meat substitutes get regularly consumed by 14 percent of consumers. To put this number into perspective, a comparison to other products is useful. In the same survey, about 54 percent of consumers stated that they regularly consume bread and bakery products, pasta, and potatoes. All three categories show regular consumption levels of around four times the level of meat substitutes. In total, the market in the U.S. alone generates an annual revenue of 1.7 billion U.S. dollars.
Overview
Meat alternatives
Milk alternatives
Plant-based food companies
Vegans and vegetarians
Consumption
Further related statistics