Innova Market Insights reports the US meat substitutes market growing at 8.7% annually
Salt of the Earth Ltd. completed a series of trials of plant-based, vegan and vegetarian meat alternatives. The trials successfully demonstrated the ability to create tasty meat analogs with less sodium. For developers seeking to meet the growing demand for meat alternatives, Salt of the Earth’s Mediterranean Umami clean-label sodium-reduction ingredient can be a key ingredient in creating meatless products.
Increasing consumer concern over sustainability and the global food chain, alongside the rise of veganism, plant power and clean eating trends, has facilitated diverse new product innovation in the global meat substitutes market, according to Innova Market Insights. For the UK market specifically, meat analog launches tracked by Innova registered a 4.9% CAGR (2011-2016), while the U.S. market recorded even higher growth at 8.7% CAGR in the same period. As part of this trend, even major meat companies have recently invested in start-ups and companies making plant-based and vegan meat substitutes.