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Meat substitutes have benefited from consumers' desire to eat less meat in recent years. Supermarket sales of meat replacement products grew by double digits in 2019 and continued to grow in 2020. Faster still than sales of meat substitutes, sales of snacks based on plant-based ingredients grew by 36% in 2019 and by 46% in 2020, according to the market research firm IRI. This growth is due to an increase in the number of products in this category and the desire of consumers to eat less meat even when snacking.
Despite the increase in sales of meat replacement snacks, the sales value of frozen snacks that are based on real meat also increased. For example, the sales value in supermarkets of bitterballen rose by 12%, of croquettes by 16% and of frikandells by 15%.
For the time being, meat substitutes will remain a growth segment, according to ABN AMRO. This is because new innovations are taking place in both the type of product and the type of ingredient for the catering, home delivery and specialist shops as well as the supermarket shelf. One challenge for the snack sector is the pressure from civil society organisations, consumers and supermarkets to produce healthier products without compromising on taste.
Source: ABN AMRO
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