Animal Products Outpaced By Meatless Meat Sales
New survey shows meat substitutes sales growing at a rate of three times more than animal products.
A new survey of 2,000 respondents conducted by Packaged Foods revealed that the sales growth rate for meat substitutes is far greater than their animal product counterparts.
According to the report—which drew upon a representative population adjusting for age, gender, income bracket, race/ethnicity, and geographic region—sales of meat products have grown by a rate of three percent between 2014 and 2015, while the composite annual growth rate for meatless meat between 2010 and 2015 stands at an impressive nine percent.
According to food news site Food Navigator-USA, “Sales of meat and poultry in the US are shifting.” The meatless meat industry is currently worth upwards of $553 million.
The report also revealed that one-third of respondents currently eat meatless meats.