13 June 2019 – AT Kearney has projected that 60% of the global meat market will be made of vegan alternatives and ‘cultured’ or ‘slaughter-free’ meat by 2040.
In a recent report, AT Kearney also said conventional meat products will be reduced to just 40% of the market over the next 20 years.
The firm also found that 25% of the market would be comprised of vegan meat alternatives, such as those made by Beyond Meat or Impossible Foods. And whilst not as popular as vegan meat alternatives to date, the market for cultured meat is growing, receiving $50 million in funding in the period up to 2018.
“The shift towards flexitarian, vegetarian and vegan lifestyles is undeniable, with many consumers cutting down on their meat consumption as a result of becoming more conscious towards the environment and animal welfare,” said Carsten Gerhardt, a partner at AT Kearney. “For passionate meat-eaters, the predicted rise of cultured meat products means that they still get to enjoy the same diet they always have, but without the same environmental and animal cost attached.”