More people are on flexitarians but many are still resistant to consuming hybrid meats. - 123rf.com
People who are concerned about environmental or health or animal welfare issues should skip the next paragraph.
The global meat market had revenues of US$1.223tril in 2019, of which processed meats made up US$519.41bil, just over 42% of total meat production. Apart from fresh vegetables and grains/beans, most packaged vegetarian/vegan meat substitutes available in supermarkets are classified as “processed foods”. Therefore, as a comparison against processed meats, processed plant products only managed US$11.1bil in revenues, around 2% of processed meats. Even allowing for rapid growth, processed plant products may reach US$35.5bil by 2027, a doubling of market share, but still dwarfed by processed meats estimated at $862.97 bil by then.
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