Half of the farmers surveyed by Purdue University said plant-based proteins could hold up to 10% of the meat market in five years and some expected the share to be much larger. Most of the respondents to the Ag Economy Barometer poll said they would not grow crops for processing into a meat alternative, even if they were offered a contract, said Purdue on Tuesday. And the same portion, just above 60%, said there would be a damaging decline in U.S. farm income if plant-based meats reached a 25% market share.
We found high levels of acceptance of clean meat in the three most populous countries worldwide, and with even higher levels of acceptance in China and India compared to the USA. These results underline the importance of clean meat producers exploring new markets for their products, especially as meat consumption in developing countries continues to rise.
Just over 40% of those surveyed described the concept of products created with these new technologies as “scary,” with no intention of adding them to their diets – perhaps unsurprisingly given the terminology used. Notably, younger consumers (Gen Z and millennials) were significantly more willing to try foods produced in these novel ways as only 26% of 18- to 34-year-olds called such foods “scary” and said they’d be unwilling to try them compared to 46% of those over the age of 55. About 20% of younger consumers agreed these types of products will help “save the planet” and that they are “cool” and the “future of foods/beverages”.