The following content is sponsored by CULT Food Science (CSE: CULT)
The Evolution of the Global Meat Market
In the last decade, there has been an undeniable shift in consumers’ preferences when it comes to eating meat.
This is partly due to the wide availability of meat replacement options combined with growing awareness of their health benefits and lower impact on the environment compared to conventional meat.
In this infographic from CULT Food Science (CSE: CULT), we examine how meat consumption is expected to evolve over the next two decades. Let’s dive in.
Taking a Bite out of Meat’s Market Share
The COVID-19 pandemic triggered a massive turning point for the meat industry, and it will continue to evolve dramatically over the next 20 years. Taking inflation into account, the global meat market is expected to grow overall by roughly 3% by 2040 as a result of population growth.
However, as consumption shifts, conventional meat supply is expected to decline by more than 33% according to Kearney. These products will be replaced by innovative meat alternatives, some of which have yet to hit the mass market.
- Novel vegan meat replacement: These are meat alternatives products made from plants that resemble the taste and texture of meat.
- Cultured meat: Also referred to as clean, cultivated, or lab grown meats, cultured meat is a genuine meat product that is produced by cultivating animal cells in a controlled environment without (Read more...)