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Meat Substitutes Recorded USD 19.5 Billion Sales Globally in 2018

May 17, 2019

VILNIUS, Lithuania--(BUSINESS WIRE)--May 17, 2019--

Global market research company Euromonitor International unveiled today new research about the impact of climate concerns on dietary habits during the webinar, “The driving forces behind plant-based diets”.

According to Euromonitor International, 24 percent of the surveyed global consumers are trying to cut down their meat intake, driving sales of global meat substitutes to reach USD 19.5 billion in 2018.

“Meat intake is mostly reduced by consumers trying to reinforce healthier eating habits and worrying about climate change. Growing attention to welfare for animals, farmers, societies and employees at large is also noticed among them,” says David Hedin, consultant at Euromonitor International.

“According to Euromonitor International’s Lifestyles survey 41.9 percent of respondents think climate change will increasingly impact their life in 2019-2024,” Hedin adds.

The U.S., Russia and the U.K. show the highest increases in the share of consumers worrying about climate change. In India, Brazil and China, at 77, 72 and 66 percent of respondents, respectively, most consumers try to have a positive environmental impact through their everyday actions.

“Despite the global growth of meat substitutes sales and consumption, the meat industry is still expected to grow at a faster rate by 2023. Pricing and availability of meat substitutes are two key factors that currently hold back its penetration worldwide,” explained Hedin.

To learn more about the trends impacting the global nutrition landscape and its development, download Euromonitor International free on-demand webinar, “The driving forces behind plant based diets” at http://bit.ly/30dz97T.

ABOUT EUROMONITOR INTERNATIONAL

Euromonitor International is the world’s leading provider for global business intelligence and strategic market analysis. We have more than 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190517005025/en/

CONTACT: Iveta Galdauskaite

Communications Associate - Euromonitor International

Tel: +370 5 243 1577 EXT 4557

iveta.galdauskaite@euromonitor.com

KEYWORD: UNITED KINGDOM UNITED STATES LITHUANIA EUROPE ASIA PACIFIC NORTH AMERICA ILLINOIS SINGAPORE

INDUSTRY KEYWORD: HEALTH ENVIRONMENT RETAIL COMMUNICATIONS ADVERTISING MARKETING FOOD/BEVERAGE OTHER COMMUNICATIONS GENERAL HEALTH

SOURCE: Euromonitor International

Copyright Business Wire 2019.

PUB: 05/17/2019 03:01 AM/DISC: 05/17/2019 03:01 AM

http://www.businesswire.com/news/home/20190517005025/en