The "plant-based meat" market is expected to boom, according to UBS, which highlighted a number of stocks set to benefit from the trend.
In a note last week, the investment bank said sales of these products were set to see a 30% compound annual growth rate through 2025, hitting $51 billion. Although an increasing number of people are regularly eating plant-based meat, UBS found that it was taste – not price – that was putting people off trying them, according to a survey of over 3,000 consumers. As such, the analysts said ingredients companies were well placed to address this stumbling block.
They also named other food-related stocks in the U.S. and elsewhere set to get a boost from growth in the sector.