The Yonhap News reported on July 14: According to the report of "The Status and Response of Alternative Livestock Foods" of the Korea Rural Economic Research Institute on the 14th, the scale of the world’s alternative livestock foods reached 9.623 billion US dollars in 2018 and is expected to reach 17.858 billion by 2025. The average annual growth rate of the US dollar is 9.5%.
Alternative Livestock Foods refer to food that replaces animal protein. Specifically, it includes plant-based alternative foods such as plant-based meat and eggs, insect protein-based alternative foods, and cultivated edible meat. Among the types of alternative livestock foods in the world, the plant protein-based market accounts for 87.2%, with an annual growth rate of 8.1%. The insect protein-based products and cultivated meat have an average annual growth rate of 22.7% and 19.5%, respectively. North America accounted for 44.6% of the world’s alternative livestock foods, nearly half, followed by Europe 28.8%, Asia, the Pacific 18.5%, and others 8.5%.
South Korea's interest in alternative livestock foods is relatively small, and the market has just formed. The market size in 2016 reached 47.6 million US dollars, with an average annual growth rate of 15.7% from 2017 and is expected to reach 216 million US dollars in 2026.
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