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Blended Meat Market Trends

Report ID: GMI11557
Published Date: Sep 2024
Report Format: PDF

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Blended Meat Market Trends

The blended meat industry is experiencing growth driven by health and sustainability concerns. According to the U.S. Department of Agriculture (USDA), per capita meat consumption in the United States decreased from 224.2 pounds in 2020 to 223.1 pounds in 2021, indicating a shift towards reduced meat intake.

The National Institutes of Health (NIH) reports that plant-based diets, which can include blended meat products, are associated with lower risks of heart disease and certain cancers. Additionally, the U.S. Environmental Protection Agency (EPA) states that agriculture, including livestock production, accounts for 11% of U.S. greenhouse gas emissions, highlighting the potential environmental benefits of blended meat alternatives.

Authors: Kiran Pulidindi , Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of blended meat reached USD 39.1 billion in 2023 and is set to grow at a CAGR of over 12.7% from 2024 to 2032.

The beef blends segment is projected to reach USD 42.2 billion by 2032, growing at a CAGR of over 12.0%, appealing to flexitarian consumers seeking familiar flavors and nutritional enhancements.

The fresh form segment is expected to observe around a 12.4% CAGR through 2032, reaching a market size of USD 38.8 billion, driven by demand for high-quality, minimally processed foods.

The North American market is expected to reach a size of approximately USD 36.5 billion, growing at an 11.9% CAGR from 2024 to 2032, driven by health and sustainability concerns.

Major companies operating in the industry include Associated British Foods, Beyond Meat, Hormel Foods, Kerry Group, Perdue Farms, Pure Farmland, Smithfield Foods, Sweet Earth, Inc., and Tyson Foods.