What is known as the “green revolution” is now an established trend. Ten years ago finding vegan, vegetarian or eco options in supermarkets and restaurants was uncommon, while now it is a major consumer choice in the world. In Spain today, vegan diets have increased by 27% in the last two years and 35% of the Spanish population has reduced or eliminated their consumption of red meat in the last year, according to a study by The Green Revolution. Focusing on the European continent, 7.7 million Germans claim to be vegetarians, and 12% of adults in the United Kingdom claim to follow a vegetarian or vegan diet.
Meat substitutes industryFor the food and agriculture sector, this change in trend has led to a redefinition of the sector’s structure in order to meet new consumer needs. This has led to an increase in the number of entrepreneurial initiatives focused on the development, innovation, and elaboration of plant-based food alternatives. According to CNBC, in 2019 appeared 327 new pea-protein-based products and a research study by Barclays suggests that the industry of meat substitutes will multiply by 10, reaching 10% in 2029.
For example, among the most widely used vegetable proteins are soybean and wheat protein, and among the emerging foods for their capacity as meat substitutes are legumes, seeds, grains and cereals, and nuts. Faced with the increase in these products, agricultural companies have adapted, multiplying the cultivation of these foods in recent years.
In our Master in International Agribusiness Management we have a module focused on the sustainability of the sector and the challenges and solutions that agribusinesses must face.