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Plant-based meat market in 2021

Question

a meat-like substance made from plants [that] typically approximates certain aesthetic qualities (such as texture, flavor, appearance) or chemical characteristics of specific types of meat.

Consumers may choose plant-based meat products over traditional meat for several reasons, including the environmental impact and animal welfare concerns associated to factory farming.

The US market size of plant-based meat increased steadily from $682M in 2017 to$939M in 2019, a 38% growth. However, plant-based meat still accounted for only 1% of the US meat market in 2019.

How much will the US market of plant-based meat grow in 2021 with respect to the previous year?

Resolution will be based on the market volume of refrigerated plant-based meat according to The Good Food Institute's market research report. If that report ceases to be produced, resolution will be based on Future Perfect's reporting on their own prediction.

Growth will be calculated as $100\times(X_{2021} - X_{2020}) / X_{2020}$ where $X_t$ is "Dollar sales of refrigerated plant-based meat in the year $t$" (see figure 8 in the 2020 report).

Both figures will be taken from the 2021 report. If the 2021 report does not include the 2020 figure, the figure from the 2020 report will be used instead.

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