Barclays analysts say plant-based ‘meat’ to continue to grow over the next decade
(Photo: Beyond Meat)
Barclays analysts say they expect huge growth in plant-based meat products over the next decade.
Speaking to CNBC they estimated the market can reach $140 billion over the next 10 years.
“Although today we believe that there are inherent barriers to successfully replicating certain animal-based consumer favorites (e.g., t-bone steaks), what has been achieved so far in terms of ‘meatless’ ground beef, sausage and hamburger products has yielded positive initial consumer reaction.
“While lab-based meat is still likely several years away from hitting supermarket shelves, plant-based protein continues to gain ground vs. its animal-based counterpart, and we expect this trend to continue for the foreseeable future.”