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Clear labeling and benefits to planet, if better explained can drive the Latin America Plant-Based Meat Market : Bonafide Research
Nov, 30
2021

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Clear labeling and benefits to planet, if better explained can drive the Latin America Plant-Based Meat Market : Bonafide Research

 

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Brazil is the fifth largest populated country globally but due to lack of awareness, no mention about ingredients and benefits to the planet, the plant based meat products are not much familiar in this region. Brands should be transparent about their ingredients and formulations or risk their credibility and the chance that vegan claims become meaningless. With animal testing recently banned in Colombia, brands here are now effectively capitalizing on the attention that cruelty-free claims are receiving.

According to the research report “Latin America Plant-Based Meat Outlook, 2026" published by Bonafide Research, the market will show a strong growth and will exhibit the CAGR of above 14% by end of the forecasted period of 2026. Through the analysis of the report, we can conclude that Brazil is the prominent revenue-generating market, in this region. United States is the largest producer as well as consumer of plant based meat products globally. The growing health awareness, cruelty towards animals and environment has led to changing habit of consumers to shift from animal meat and products to plant based meat products.

A recent study by Ingredion shows that about 90% of the Latin American consumers are demanding more and more alternative meats, and it is driven by growing awareness of health and sustainability. The plant-based movement in Latin America could gain wider traction if native and sacred superfoods, like Peruvian kiwicha and maca, are adopted and highlighted on pack. They could follow in the footsteps of products such as Deluyum.com Fig and Maca Boost Bites, which are vegan bites with figs and maca powder, a natural energizer or Sanua Cream of Spinach and Tarwi Soup, which contains tarwi, a high-protein seed.

The emergence of plant-based meat alternatives has drawn investments as well as innovation in the studied market. Investment is taking place in expanded processing infrastructure and new sources of protein; whereas, innovation is emphasizing on flavorings, ingredients and alternatives to existing processing. The New Butchers is set to capture Brazil market with new products like, The New Chicken 2.0, The New Burger, and The New Fish.