Plant based alternative to Meat Processing Business[Innovative Food Business Idea]

Rearing animals for meat have led to a large number of global issues including global warming, water pollution, and greenhouse gas emission. In recent years, increasing interest in alternative meat production techniques brought people to try plant-based alternatives to meat. Also, changing consumer habits and growing health concerns regarding high cholesterol consumption has brought a shift in consumer’s eating preferences. Plant-based alternative to meat or meatless meat is made using high protein plant products such as tofu, soy, vegetables, beans, peas, and lentils. They are made to mimic the taste, texture and protein contents of the meat. Meatless meat could allow restaurants to offer more vegetarian options on their menus. The two California-based companies, Beyond Meat, and Impossible Foods tried making alternatives to meat from proteins extracted from plants and became the key players of the market with the highest market shares. Continuing this trend, several start-ups entered the industry making plant-based alternatives for meat and they are emerging to be new contenders in the market. According to the Plant-Based Foods Association, the sale of plant-based products have increased by 16% in 2018-19. A major shift in consumers' preference towards the vegan diet has increased the demand for the plant-based alternative of animal products. Considering people’s growing interest in plant-based products, there’s certainly a market for meat product’s alternatives.