Sales of meat alternatives grew 30 percent in 2018 compared to the previous year, according to Nielsen, reports CNBC. The global meat market, currently worth $1.4 trillion, is also continuing to grow, though it may slow down in the years to come.
Some countries, including the U.S. and the U.K. have reached their “meat peak,” which means that meat consumption has declined recently. However, other countries are upping their consumption; China, for example, went from consuming just nine pounds of meat per year in 1961 to 137 pounds per year in 2013.
Pat Brown, CEO and founder of plant-based alternative startup Impossible Foods, thinks more consumers will begin to reassess their meat consumption in the future, saying, “It’s going to be a tipping point in five to ten years.” Full Story