U.S.: Average meat and meat alternative prices in foodservice 2022 | Statista (2024)

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U.S.: Average meat and meat alternative prices in foodservice 2022 | Statista? ›

Plant-based beef alternatives costed more and were priced at around 6.7 U.S. dollars per pound, compared to the cost of beef which was around five U.S. dollars per pound. This disparity showed across the board, with plant-based alternatives costing more than animal-based meat in all categories.

The global meat substitutes market was valued at $1.89 billion in 2021 & is projected to reach $4.04 billion by 2027, at a CAGR of 13.5% in forecast period. According to MarketsandMarkets, the meat substitute market would see highest growth in Asia Pacific at a CAGR of 14.3%.

Meat substitutes are more expensive than their meaty equivalents. Until they're cheaper, they will struggle to bite into the protein market. Having worked in this industry, I can add two things to this conversation which are very important. Firstly, meat at supermarkets is often sold as a 'loss leader'.

Meat Substitutes Market Size & Trends. The global meat substitutes market size was valued at USD 18.78 billion in 2023 and is expected to grow at a CAGR of 42.4% from 2024 to 2030. Diets that reduce or eliminate animal products are gaining popularity, which is expected to fuel the growth of the market.

Of those who do follow a specific diet, low-carb, clean eating, calorie counting, and plant- based were the most common diets tried over the past year. 65% of Americans have consumed plant-based meat alternatives in the past year, with 2 in 5 eating them daily or weekly. Most indicated they had consumed them at home.

Demand for plant-based meat substitutes is on the rise, with a 10% sales growth in 2021 compared to 2% for meat products. The authors believe that the target market for non-meat alternatives is flexitarians —– meat consumers open to dietary substitutions.

“Some of those products, even though they contain high amounts of plant-based protein, may also contain unhealthy ingredients, such as high amounts of sodium or unhealthy fats,” he said. “Being plant-based doesn't necessarily mean it's healthier.”

Some grocery stores and Target will offer a "card" price and/or a coupon. It's not worth it at $8 for a package of nuggets or 3/4 a pound of "meat", but at 3.99 or 4.39, it definitely is.

Soy chunks and mince are very inexpensive ingredients that are easy to prepare. They consist of dehydrated soy which, once mixed with water, can be used as a meat substitute in almost any dish. Soy is most commonly sold as mince, cutlets, or balls.

Who is the target market for meat substitutes? ›

The global meat substitutes market size was valued at USD 6.42 billion in 2023 and is projected to grow from USD 7.06 billion in 2024 to USD 17.79 billion by 2032, exhibiting a CAGR of 12.25% during the forecast period (2024-2032). Europe dominated the meat substitutes market with a market share of 32.55% in 2023.

Plant-based meat analogues, edible insects, and cultured meat are promising major meat alternatives that can be used as protein sources in the future.

The most consumed meat in the United States is chicken. Popular dishes that feature chicken include fried chicken, chicken wings, chicken sandwiches, and chicken tenders. Additionally, chicken is commonly used in salads, soups, and as a topping on pizzas.

People in China eat more meat—by total volume—than any other country in the world. In 2021, people in China ate nearly 100 million tons of meat, or 27% of the worldwide total, according to the China Agricultural Outlook Report. That's twice as much meat as the U.S. consumed.

Some studies have shown that those on a plant-based diet are found to have lower plasma vitamin B12 levels and higher levels of vitamin B12 deficiency than those who consume animal products. Vitamin B12 is an important cofactor in DNA synthesis, and deficiency can lead to anemia and severe neurological dysfunction.

Plant-based meat substitutes have on average 50% lower environmental impact. Mycoprotein, microalgae, and meat cultures demonstrate a positive tendency.

Many newer plant-based meat products are similar in calories and protein to animal-based protein sources. But they could potentially be lower in calcium, potassium, magnesium, zinc and vitamin B12 and higher in sodium and fat after being prepared.

And people who don't eat meat, called vegetarians, generally eat fewer calories and less fat. They also tend to weigh less. And they have a lower risk of heart disease than nonvegetarians do. Research shows that people who eat red meat are at a higher risk of death from heart disease, stroke or diabetes.

Leading consumers. The per capita consumption of meat is forecast to grow in every part of the world by 2031. OECD countries had the highest per capita consumption of meat from 2019 to 2021, at 69.5 kilograms of retail weight per person. The world average per capita consumption is only about 34.1 kilograms.