Global Alternative Meat Market: Key Research Findings 2020
Yano Research Institute (the President, Takashi Mizukoshi) has conducted a survey on domestic and international market of alternative meat (plant-based meat / cultured meat), and found out the current market landscape, the trends by market players, and the future perspectives.
Global market of alternative meat (as a total of plant-based meat and cultured meat) is estimated to attain 257,263 million yen for 2020, based on the shipment value at manufacturers.
According to the World Population Prospects by the United Nations (medium-variant projections), global population is expected to explode from 7.7 billion in 2019 to 8.5 billion by 2030 (up 10% from 2019), 9.7 billion by 2050 (up 26%), and 10.9 billion by 2100 (up 42%). In particular, the population of sub-Saharan Africa is projected to double by 2050, from 1,320 million in 2019 to 2,528 million.
Ministry of Agriculture, Forestry and Fisheries of Japan reported that global demand for meat is on the rise; demand for meat, i.e. total of beef, pork, and poultry, which was 189.46 million tons in 1995, is forecasted to expand to 339.52 million tons by 2025.
With the increase in world population, demand for meat is on the rise. Nevertheless, due to concerns on environmental issues regarding animal husbandry such as greenhouse gas emission, heavy use of animal feed and water resources, there are worries that supply of traditional animal-derived meat may be insufficient to meet the growing demand. Under these circumstances, plant-based meat made from raw materials like beans and vegetables and cultured meat produced by in vitro cell culture of animal cells are garnering attention.
Activation of Plant-Based Meat Market: Market Entry of Major Meat/Food Companies
In the United States, a boom of plant-based meat started with a success of a start-up company, followed by active market entries by enterprises. In the background of the boom were improvements made on taste, health consciousness trend, and heightened consideration and interest on sustainable food production. Owing to these factors, major meat and food companies began entering the market around 2019.
Between 2019 and 2020, sales of new plant-based meat products became brisk in Japan, too, with major food/meat companies stepping into the market one after another. Products for general consumers are already on the shelves of retail stores, and products for professional use are also available. The plant-based meat is becoming a hot topic for producers of raw materials for food processing, food processing businesses, wholesalers, retailers and restaurants.
The plant-based meat market is assumed to expand further in the US and Europe, where the market has already grown to a certain level. China also expects growth because the country consumes a large amount of proteins. In Japan, demand may increase if consumer recognition on plant-based meat is raised by marketing at retail stores and availability of menus at restaurants.
Meanwhile, cultured meat is under R&D mainly by start-ups in the US, Europe, Israel, and Japan. While high production cost is still a challenge, it is assumed that attempts to reduce cost of production by technological development and streamlining continue going forward.
Viewing from the market landscape, the global market size of alternative meat (as a total of plant-based meat and cultured meat) is projected to attain 673,219 million yen by 2025, based on the shipment value at manufacturers. With continuance of an expansion trend, the market is expected to grow to 1,872,320 million yen by 2030.
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