Demand for vegetarian meat in China is growing

Published 2021년 9월 14일

Tridge summary

The plant-based vegetarian meat market in China is projected to grow at a significant rate in the next decade, driven by increasing consumer demand for healthy, novel food options. This demand is expected to expand the market from its current size of 6.1 billion yuan in 2018 to between 17-24 billion USD by 2030. Imitation meat products within this market are anticipated to see the most growth, reaching 2.1-9 billion USD by 2030. This growth is attributed to the rising preference for taste and affordability, aligning with the health and novelty trends that are driving the market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Saurabh Bajaj, Asia Managing Director of Just Asia, said that taste and price will be outstanding advantages in expanding the plant-based vegetarian meat market in China in the next 10 years. and will continue to develop further. Therefore, this product needs to be expanded and cheaper for mass consumption. According to Michelle Huang, analyst at Rabobank - Consumer Foods, Chinese consumers' demand for plant-based vegetarian meat is growing, driven by a preference for healthy, novel and unique foods as well. as long-term needs. Plant-based meat substitutes including traditional tofu and imitation meat products are expected to grow at a rate of 5.4 - 9.4% between 2021-2030, reaching 17 - 24 billion USD by 2030. Imitation meat products alone will reach 2.1 - 9 billion USD in 2030, corresponding to a growth rate of 54 - 81% in value. According to Daxue ...

Source: Vinanet