Plant-Based Food and Beverages Alternatives Industry to Grow at a CAGR of 13.82% during the forecast period from 2019 to 2024.
The greatest challenge being faced across the globe is to ensure that the increasing population gets adequate access to both sustainable and nutritious food. The global food industry is under constant pressure trying to overcome this challenge. This pressure is evident from the production statistics of the livestock industry. Given the sector’s substantial external impacts and its interaction with sustainability megatrends, there is a growing global population which is demanding more meat.
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Consumer appetite across the globe has been increasing continuously, and with the global population reaching XX billion by 2050, the demand for animal-based foods is expected to increase by more than XX% by the end of 2019. To meet this demand without impacting the animal agriculture environment and public health, innovative approaches for producing meat have an urgent requirement.
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One such approach is to develop food entirely out of plants. Plant-based foods are also known as plantbased products, which are the direct replacements of animal-based products. Some of the examples of plant-based products are plant-based meat, eggs, dairy products, and beverages. Plant-based food products use the biomimicry approach to replicate the taste and texture of meat. Several plant-based products such as Beyond Sausage and the Impossible Burger, available in the industry, ensures that this approach creates the same flavor, texture, and overall experience of eating meat with a high degree of consumer satisfaction.
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