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With the U.S. Food and Drug Administration granting approval to a cell-based – or cultivated – meat product, new foods are expected to hit store shelves soon.
Smithfield Foods will suspend operations at its Monmouth, Illinois, facility beginning next week and until further notice after a small portion of its 1,700 employees tested positive for COVID-19. The Monmouth plant represents approximately 3% of U.S. fresh pork supplies and also produces bacon. Employees will be paid during the closure.
Data shows consumer plant-based meats use is low in developed markets, but rising fast, with consumer burger trialing at just 8% in the United States and mid-20% in the UK and Germany.
The global plant-based meat market for plant-based meats is projected to reach $50 billion by 2025, according to a study released by UBS Evidence Lab, New York.
According to the 2019 Power of Meat Report, compiled by the Food Marketing Institute, Washington, D.C., and Foundation for Meat & Poultry Education & Research, Washington, D.C., eating meat is still the norm.
According to Euromonitor International’s health and nutrition survey, 21% of the surveyed global consumers are trying to limit their meat intake, driving sales of global meat substitutes to reach $23 billion by 2023.
Fresh meat represents 89% of the total volume of meat sold globally, and is projected to grow by 2% annually through 2023, according to a study released by Euromonitor International, UK.
New research by The Hartman Group, Bellevue, Wash., uncovered that almost all consumers — whether they purchase plant-based foods or not — have some level of distrust in meat and dairy companies/producers.
All meat buyers are driven by taste, yet taste is a less important driver for the plant-based consumer, as fish is purchased for health and convenience reasons.
Chicken purchasers cite more positive attributes than purchasers of beef, pork, fish and plant-based meat proteins, according to new research presented by the National Chicken Council (NCC), Washington, D.C.
The deli meat market is projected to grow $114.18 billion, at a CAGR of 11%, by 2023, according to “Global Deli Meat Market 2019-2023,” a report published by Technavio, London.
The global frozen meat market is projected to climb a steep growth curve in coming years, according to a report published by Transparency Market Research (TMR), Albany, N.Y.
The plant-based meat market is estimated at $12.1 billion in 2019, and is projected to grow at a CAGR of 15% from 2019-2025, reaching $27.9 billion by 2025, according to a report published by MarketsandMarkets, Chicago.