Russia has great prospects in the world market for plant alternatives

Published 2021년 12월 14일

Tridge summary

The Union of Plant Based Products Producers in Russia sees potential for growth in the market for meat alternatives, due to their lack of gluten, cholesterol, antibiotics, and GMOs. Valeria Rodina believes Europe, Asia-Pacific, and the US could be potential export markets, with the global plant-based products market expected to exceed $88 billion by 2026. Russia could potentially capture 15% of this market with government support. The demand for these products is driven by health reasons and ethical choices, with millennials and centennials being the main consumers. Production of herbal products in Russia increased by 18% in monetary terms and 19% in kind in 2021.

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

Original content

Since plant-based alternatives to meat do not contain gluten, cholesterol, antibiotics, and Russian products do not contain GMOs, they have high export and investment potential. Valeria Rodina, Executive Director of the Union of Plant Based Products Producers, spoke about this during the Agroinvestor conference "Agricultural Holdings of Russia - 2021". Now, according to her, Europe is the largest market for vegetable meat, and the countries of the Asia-Pacific region and the United States are also promising. The world market for plant-based products by 2026 may exceed $ 88 billion (2016 - $ 14.2 billion), and by 2030 Russia may occupy 15% of this market with effective government support. According to the Motherland, our country has all the advantages for this: agro-climatic conditions, the pace of development of technologies in the field of food tech and the growing demand for plant products. In addition, the competitiveness of this industry is growing thanks to the introduction ...

Source: AgroInvestor