Food awareness organization ProVeg International has encouraged meat producers to invest in the plant-based protein sector, at the international trade fair of the meat industry in Frankfurt this week.
According to ProVeg, there “are huge opportunities” for meat producers to seize in these sectors, and it stated that sales values of plant-based meat in Europe in 2020 amounted to €1.4 billion.
The report presented findings that out of 10 European countries, the UK, Germany and the Netherlands had the highest sales of plant-based meat, at €502 million, €357 million, and €174 million respectively.
Following this conclusion, ProVeg recommended that marketing be directed at this group as they are “the largest and thus most important consumer group”.
The report presented insights on cultured meat, also known as cultivated meat, in vitro meat, or lab-grown meat. It stated that these products can provide an alternative to animal meat for those who wish to exclude it or for people who want their diet to have a lower environmental impact.
It also quoted a finding from consultancy AT Kearney who predicted that “the cultured meat market share of the total meat sector will be 35% by 2040”.
The report concluded by recommending continued investment in this sector as well as encouraging all meat manufacturers to enter the plant-based sector and seize its opportunities.