South Korea: The fast-growing alternative meat market needs to respond with safer livestock products

Published 2022년 10월 11일

Tridge summary

The global alternative food market, including meat substitutes, is projected to grow at a CAGR of 9.5% from 2019 to 2025, reaching $17.8 billion by 2025. This growth is due to increasing social issues like carbon neutrality and environmental concerns. Major meat processing companies, including Cargill, are entering the alternative meat market, and domestic companies in Korea are also launching their alternative meat brands. However, the livestock industry is facing controversy and opposition from these alternatives, as they are seen as synthetic and raising safety concerns. Despite these controversies, the demand for meat substitutes is expected to increase, and the livestock industry plans to survive by promoting the nutritional value of their products and producing safe and eco-friendly livestock products.

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

Original content

As social issues such as carbon neutrality and environmental issues are getting more and more attention, the meat substitute market is growing at a rapid pace. According to the Korea Rural Economic Research Institute, the size of the global alternative food market was $9.62 billion in 2018, and it is expected to grow at a CAGR of 9.5% from 2019 to 2025, reaching $17.8 billion by 2025. Accordingly, not only countries around the world but also large domestic companies are jumping into the alternative meat market one after another. All six major meat processing companies, including Cargill of the United States, have entered the alternative meat market. In Korea, CJ CheilJedang launched the plant-specialized brand ‘Plan Table’ in December last year, and Shinsegae Food also launched ‘Bere Meat’, an alternative meat brand in July last year. It is analyzed that the rapid growth of the global alternative food market is growing in terms of providing consumers with more diverse choices and ...

Source: Aflnews