Personally, I can be defined as a flexitarian, but I have to say I’m consuming more and more vegan and vegetarian meal while I’m cutting down on meat consumption. Apparently, according to a multitude of research and studies, I’m not alone. This fact has attracted my curiosity, so I started collecting data and insights regarding the meat market and its surroundings. Here are some of my findings.
According to data published by Statista in 2019, the value of the meat market is expected to more than double by 2022, rising from 714 USD billions to 1.5 USD trillions. Nevertheless, during the first eight months of 2020, worldwide meat production has fallen by 3%, the biggest drop in at least 20 years. Certainly some part of this decrease can be considered as a consequence of COVID-19 issues with supply chain and production deficiencies, however, data from different sources show that people are modifying their relation with meat and that lots of them are quitting or drastically decreasing meat consumption.
In fact, vegetarianism and veganism are booming, not only in rich and wealthy regions, but also in many developing countries, even in places where meat consumption is perceived as an element of prosperity. This trend is rising especially among the young, urban, middle- and high-income population. Here is the Top10 ranking of countries in which vegetarianism has had its biggest increase [Italy is in it].
This decrease in meat consumption is very good news for the climate – especially when in reference to beef – considering that it’s a fact meat production is one of the main sources of CO2: every kilogram of beef produces about 59 kilograms of CO2 released in the environment; every kilogram of pork introduces 8 kilograms of CO2 in the air; every kilogram of chicken creates 7 kilograms of CO2.
While for some, quitting meat may be the perfect solution, for others it’s not, but more and more people are counting on meat alternatives to at least reduce the meat they eat: especially ground beef, sausages and hamburger lovers are now able to “taste meat” eating meatless thanks to the new possibility given by lab-grown and plant based meat. And plant-based meat alternatives are predicted to obtain 10% of the 1.4 trillion USD of the meat market by 2029.
[Img via: Statista]
If you are thinking of building your brand strategy for your food or Ho.Re.Ca. company by embracing a meatless approach or just using alternative meat among other products and you want to do it based on an accurate market analysis designed on your specific needs, I would love to hear from you.
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