Plant-based meat can be a game changer in the food industry. Many restaurants and food manufacturers prefer to add plant-based meat menus like burger patties, sausages, nuggets, meatballs, and others to attract customers.
With the increasing trend of being "vegan," many individuals are cutting meat from their diets for health, environmental, and budgetary reasons. While millennials are increasingly attracted to sustainability and environmentally friendly products, plant-based meat fulfills the criteria of being a sustainable, eco-friendly food with taste and health benefits.
Restaurants and food manufacturers are responding to this growing trend of veganism by adding vegan menus. Plant-based meat has churned out to be the savior of the food manufacturers as they not only taste like meat but also have higher health benefits.
Plant-based meat is a cruelty-free alternative to animal-based meat. It mimics animal flesh's texture, flavor, and feel. Common ingredients include soy, peas, mushrooms, green gram (mung beans), and seitan. Plant-based meat is becoming more common at supermarkets, and inexpensive food stops. It is also hitting the scene at numerous cafés the nation over.
Globally, food joints benefit from dealing with businesses concerned with animal meat. This has blinded them into adopting practices to increase their sales and the value of their products each year. Wealthy people who can conveniently afford to stick to buying animal-based products of an increased value. People from the middle classes do not conveniently reach out to them. This shows that by 2027, global food systems will solely focus on meeting the needs of only a particular type of person, i.e., the well-to-do. It cannot be questioned that food industries will not raise their standards to culminate in more harmful practices to meet their demands.
Plant-based meat products not just offer alternative sources of protein but also do it nobly. They deliver complete culinary experiences of meat without harming animals. Apart from taste, they also contain various micronutrients, such as iron and vitamin B complex, fiber, and lower saturated fats and calories. Their meaty texture, juiciness, and more fibrous consistency, such as meat, are helping boost their consumption.
Read the latest report - Plant-based Meat Market - Global Outlook & Forecast 2022-2027
FROM TOFU TO A COMPLETE PLATTER—HOW HAS PLANT-BASED MEAT EVOLVED?
"Tofu" is said to be the first meat alternative. It has its roots in China, where eating meat from warm-blooded animals was restricted. Tofu is known as bean curd and is prepared from soy milk. The popularity of tofu has increased over time, and many food manufacturers and restaurants have come up with various evolving meat alternatives. In 2020, the inclination toward plant-based foods led to massive growth since people have become more cautious about their diets.
A wide range of plant-based products available are:
Burger Patties: Burgers are often considered comfort food, primarily for their taste and pocket-friendly prices. Patties also serve as tastemakers for burgers.
Sausages: Sausage is a common ingredient in a wide range of cuisines and can be created using several types of meat in various forms, ranging from mild fresh sausages to spicy smoked and cured alternatives.
Strips & Nuggets: Strips and nuggets are the most popular foods globally and in the US.
Meatballs: Meatballs are minced meat and herbs rolled into small balls. Most popular in Europe and Asia, though one can find recipes of meatballs as commonly preferred from Sweden to the Indian subcontinent.
Others: At an average grocery store, other plant-based meat-type products include nuggets, patties, tenders, and prepared products containing plant-based chicken shreds or chunks as an ingredient.
PLANT-BASED MEAT CAN BE A GAME CHANGER IN THE FOOD INDUSTRY.
Ingredients derived from plants are a good source of antioxidants, vitamins, and minerals, all of which have positive health effects. Furthermore, studies show that plant-based diets can be good for controlling diabetes, weight, and the microbiome. Additionally, it implies that they might aid in preventing conditions like hypertension and cardiovascular disease.
The World Health Organization (WHO) is concerned about red and processed meat carcinogens, which may increase cancer risk. According to the American Heart Association (AHA), eating more plant protein instead of meat may improve heart health.
FACTS THAT PLANT-BASED MEAT COMPANIES SHOULD CONSIDER:
According to Arizton Advisory, The global plant-based meat market is expected to reach a revenue of USD 18.02 billion in 2027. Investments in plant-based food brands have exceeded USD 17 billion since 2009, with most occurring since 2017. Investments included 233 deals and 288 unique investors.
Many angel investors, venture capitalists, and accelerators are looking forward to investing in the industry. Increased investment activity from strategic food industry investors such as General Mills, 301 Inc, and Kraft Heinz, as well as direct investors such as Mapleleaf Foods, Cargill, and Danone, are helping to propel the plant-based meat market growth.
High-profile investors such as Bill Gates, Richard Branson, and Hong Kong business magnate Li Ka-Shing, and food giants such as Tyson Foods, Cargill and PHW Group, and Singapore government-owned investment company Temasek, influential stakeholders are capitalizing on more resource-efficient methods of meeting more than 50% increase in food demand expected by 2050.
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