UBS predicts that plant-based meat sales could increase by more than 25% a year to reach $ 85 billion by 2030

Leanna Garfield / Business Insider

• The market for plant-based foods is growing rapidly as it is now easy to find alternatives to milk, meat and even eggs.
• UBS expects the plant-based meat market will grow by 28% a year and reach $ 85 billion by 2030. According to them, it could be a conservative estimate .
• Herbal Dairy alone could be worth it $ 37.5 billion by 2025.
• See Markets Insider for more stories.

The herbal food market has exploded in the past year with Beyond Meat's public listing and Burger King's national rollout of Impossible Whopper. UBS expects a growth of 28% per year in the vegetable protein or meat substitute market, from $ 4.6 billion in 2018 to $ 85 billion in 2030.

"Consumers are increasingly looking for healthy, sustainable sources of protein in new categories, such as eggs, dairy products and herbal meat, and herbal products have never been as delicious and accessible in grocery stores and restaurants, "said Josh Tetrick, co founder and CEO of JUST, the herbal egg manufacturer.

Brands such as Beyond Meat and Impossible Foods have made waves in the world of food. The Beyond Meat's action price has climbed nearly 150% since its public debut in May, while the partnership with Impossible's Burger King indicates that herbal meat substitutes are ready for the general public .

Read more: Beyond Meat is Only the Beginning: Alternative Dairy Businesses Should Know a $ 38 Billion Market

Alternatives to dairy products and vegetable eggs also benefit from the abandonment of animal products. Plant-based milk has grown by almost 6% over the past year in terms of sales in the United States, with brands such as Alpro and Oatly becoming well-known brands. Vegetable eggs, such as those sold by JUST, increased by 38% according to SPIN and the Good Food Institute.

UBS expects the only market for herbal dairy products to reach $ 37.5 billion by 2025. However, its growth estimates for the broader plant-based foods sector could be conservative "if the adoption of herbal meat accelerates through innovation and increased consumer awareness."

The report of the bank's Global Wealth Management division also explains how agriculture could evolve over the next decade. UBS badysts predict that our way of producing food will change rapidly, in part because of the changing tastes of different sources of meat. Vertical agriculture, laboratory-grown foods and AI should usher in a new generation of food production.

"Overall, we estimate that the opportunity for food innovation represents a $ 700 billion market by 2030," the researchers write. They anticipate technical progress and point to the growing number of US start-ups and innovations in the food sector in terms of investment.