A new report details the rapidly growing size of the vegan steak market.
The global market value for vegan steak is estimated to be $598.6 million in 2023, and is anticipated to register a compound annual growth rate (CAGR) of 7.3% from 2023 to 2033. This is according to a report by Future Market Insights. The report anticipates the overall valuation of the market to reach up to $1.13 billion by the year 2033.
“As the trend for veganism spreads across these countries, the demand for vegan steak along with other plant based protein alternatives is rising exponentially in the global as well local markets”, states the report. “As people are willing to invest time in learning more about these new food alternatives, vegan steak is anticipated to garner more new consumers in the future.”
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