Sustainable Sizzle: Exploring the Environmental Benefits of Plant-Based Beef by 2023 to 2033
Future Market Insights (FMI) forecasts impressive growth of the Plant Based Beef market at over 22.7% CAGR between 2022 and 2032 Based on the source, the soy-based protein segment holds the dominance in the market for plant based beef, while wheat-based protein segments are expected to grow prominently in the forecasted period of 2022-2032.
According to recently published market study data on plant-based beef, the industry is anticipated to grow at a CAGR of 20.6% in value from 2023 to 2033, from an expected market value of US$ 4.1 billion in 2023 to US$ 26.9 billion.
The recent changes in the global food and beverage industries demonstrate the rise of plant-based alternatives, which has caused upheaval. Companies across the board are heavily investing in developing and purchasing new goods and brands that will fuel the growing consumer demand for plant-based beef products.
Plant-based meat is quickly becoming one of the most popular, healthful, and environmentally friendly ways to eat. This is owing, in part, to the abundance of novel plant-based meat alternatives that mimic meat products in flavour, texture, mouthfeel, and behaviour.
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