The alternative meat market could be worth $140 billion in 10 years, Barclays says.
The market for plant-based or lab-made meat could climb to $140 billion in the next 10 years as emerging companies capture a 10% share of the $1.4 trillion meat market, Barclays said Wednesday.
The alternative meat industry has parallels with the electric vehicle industry, which is expected to disrupt the car business. But meat substitutes have the potential to grow even larger given the mainstream appeal of affordable food products and the niche audience that is drawn to electric cars.“With that said, we believe taste and price will ultimately dictate whether or not alternative meat gains widespread acceptance,” the analysts wrote.
“Alternative meat products can only partially address health & wellness concerns, as they have lower cholesterol levels but higher amounts of sodium,” said the report. “With health & wellness top of mind for consumers, food companies still have plenty to do.”
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