World meat industry news

NielsenIQ analysts found that sales of vegetable meat (produced from soy, peas, wheat) in Russia fell by 70% in the first 10 months of 2022 compared to the same period last year. These data were confirmed by a source in one of the major producers of vegetable meat.

Despite the fact that vegetable meat has a very stable audience - vegetarians and vegans, the demand for such products has noticeably dipped. Experts attribute this to the departure of a significant part of vegetable meat consumers from Russia and the transition of the rest to cheap vegetarian products.

It is noteworthy that a year earlier, according to NielsenIQ, this segment grew noticeably - by 24.4% from January to October. In 2021, 126,000 tons of vegetable meat were produced in the Russian Federation - 100% more than in 2020. And Deloitte Consulting even predicted in 2021 that the volume of the vegetable meat market would grow by 10% over the next 5 years.