NEW YORK, Aug 11 — By 2029, the meat substitute market is expected to grow by more than 11 per cent to US$12 billion . And hardly a day goes by without the food industry coming up with a new animal-protein-free alternative. However, the success of this market may not be quite what you think...Consumers born after World War II and up to 1965 — those typically referred to as “boomers” — are not the category most attracted to this type of food.
The majority of consumers — in the United States, at least — choose this type of food to maintain their nutritional well-being. These plant-based alternatives are only associated with the vegetarian or vegan movements in a secondary sense. In fact, their consumption saw a boost at the time of the Covid-19 pandemic, when healthy eating became more prevalent, the report states. Some 31 per cent of consumers preferred to buy products with increased focus on their overall health.