Will alternative meat capture 10 per cent of global meat sales?

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Alternative Meat Market Projected to Reach 10 Per Cent of Global Sales

Barclays has projected that the alternative meat market could capture approximately 10 per cent of all global meat sales within the next decade. This forecast suggests a significant expansion for plant-based and other meat alternatives. For context, the overall global meat market is a substantial sector, and a 10 per cent share represents a considerable shift in consumer purchasing habits and industry landscape.
Projections for Market Share

The projection from Barclays indicates that the alternative meat sector could achieve a valuation of up to US$140 billion in 10 years. This estimate is based on the sector's potential to account for around 10 per cent of the total global meat market. This growth is driven by increased consumer interest for various reasons, including environmental concerns, animal welfare, and health considerations.
Current Market Context

While the exact current global meat sales figures are not detailed, the trajectory of the alternative meat market is noteworthy. In 2018, sales of alternative meats in the United States saw a jump of 23 per cent. However, at that time, this represented only one per cent of the total meat market, highlighting the significant growth potential anticipated by analysts like those at Barclays and JPMorgan Chase, who have estimated the plant-based meat market could exceed US$100 billion in 15 years.
Industry Expansion and Investment

The burgeoning alternative meat industry has attracted considerable attention from both new ventures and established food giants. Companies like Impossible Food and Beyond Meat have experienced strong demand, leading to substantial investment and impressive stock market performances for publicly traded entities. Major food corporations, including Nestle, Unilever, and Kellogg through its MorningStar Farms brand, are also actively developing and marketing their own plant-based meat alternatives, indicating a broader industry trend towards these products.

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Will alternative meat capture 10 per cent of global meat sales?

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