Trends

Vegan Meat Market Set for $140 Billion Value in the Next Decade

Bullish Report from Barclays Analysts

Another day, another confirmation that the vegan meat is starting a major bull run. In a report published yesterday called “I Can’t Believe It’s Not Meat” Barclays analysts predict that the market for alternative meat will be valued at $140 billion in ten years’ time. This is a huge upgrade on its previous views on the alternative meat market. 

The implication is that the animal-free industry will have captured a full 10% of the global $1.4 trillion meat industry. This prediction of rapid growth cements the notion that plant-based vegan food is not a fad – it’s here to stay. The City is a convert to the vegan trend. 

The report believes that it will be hard to replicate T-bone steaks. It sees lab-based meat as being many years away. However the market is wide open for the plant-based versions of ground beef, sausages and hamburgers which have so far proved to be very popular with wellness and animal welfare minded consumers. 

The trend is well identified and Barclays sees it continuing well into “the foreseeable future”. The degree of acceptance of this new food will be down to “taste and price”. 

The City now understands the economic value of Veganism

There is no doubt that the City clearly recognises the impact of veganism in society. Concerns about animal welfare and concerns for the environment and the impact of cattle farming are unstoppable forces so there is self-evidently a lot of money to be made. The new food companies are lining up to invest millions in R&D for alternative meats, in many cases with high profile celebrities and athletes as investors and ambassadors. Traditional food companies, including meat producers, are diversifying into the market so as not to be left behind. 

Beyond Meat’s market valuation has tripled since its recent IPO. Early investors include Bill Gates and Leonardo DiCaprio. 

Impossible Foods which has just raised $300 million in private funding is backed by Serena Williams and Katy Perry.    

Barclays draws an interesting parallel with the development of electric cars, arguing that the market opportunity today for plant-based meat is actually better than the opportunity for electric vehicles ten years ago. 

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Richard Williams

Richard Williams, a graduate of the University of Worcester in Entrepreneurship, has experience in promoting cruelty-free products recognised by PETA. He is creating Coworking Locations with vegan-friendly gourmet food in an area suited to yogis and collaborative vegan lifestyle brands. He is also working in the Vegan and Yoga Vacation sector. Contact: Richard@vegansbethechange.com

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