Global Plant-Based Meat Market By Source (Soy, Wheat, Pea, Mycoprotein, Gluten Others), Product (Burger Patties, Sausages, Strips & Nuggets, Meatballs, Others), Type (Pork, Beef, Chicken, Fish, Tofu, Tempeh, Quorn, Mushroom, Seitan, RTC/RTE, Natto, Others), Process (Grinding, Mixing, Blending, Forming/Shaping, Freezing Systems, Storage), End-Use (Retail, Industrial), Distribution Channel (B2B, B2C), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Plant-Based Meat Market
Global plant-based meat market is expected to rise to an estimated value of USD 284.53 million by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the growing awareness regarding the benefits associated with consumption of these products over conventional meat.
Market Definition: Global Plant-Based Meat Market
Plant-based meat is a category of food products that are sourced from vegan sources not utilizing any meat, but providing similar functionality and taste. These products provide similar nutritional value and the creation of these products involves the usage of only vegan, sustainable and environmental friendly ingredients. These products were designed to counter the significant consumption of meats having a drastic impact on the environment.
- Significant rise in the levels of population adopting vegan products and solutions; this factor is expected to drive the growth of the market
- Rising levels of investments and initiatives undertaken by the government to provide environmental-friendly, sustainable food products; this factor is expected to drive the growth of the market
- Increased levels of innovations, investments and products provided by various food manufacturers; this factor is expected to drive the growth of the market
- Certain groups of population allergic to gluten and soy which are used as source for these products is expected to restrain the growth of the market
- Lack in the presence of products in the developing regions along with the costs associated with these products; this factor is expected to restrain the market growth
Segmentation: Global Plant-Based Meat Market
- Burger Patties
- Strips & Nuggets
- Freezing Systems
By Distribution Channel
- Business-To-Business (B2B)
- Business-To-Consumer (B2C)
- Convenience Stores
- Food & Drink Specialty Stores
- Traditional Stores
- Online Retail
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In May 2019, Impossible Foods Inc. announced that they had accumulated USD 300 million from its latest funding round. This funding will enable them to meet the demand that they have failed to realize till now by extending their operating hours and enhancing their production capacity. Impossible Foods has raised more than $750 million, with help from investors like Bill Gates,Google Ventures and Serena Williams.
- In December 2018, Unilever announced that they had acquired Vegetarian Butcher for the expansion of their offerings and products in the plant-based foods. This acquisition will further enable better capabilities of plant-based products which are in demand due to their environmental and health benefits. Currently, Unilever is selling nearly 700 products with V-label in Europe. In the Netherlands, these include products from Unox, Knorr, Hellmann’s, Conimex and Ben & Jerry’s brands.
Competitive Analysis: Global Plant-Based Meat Market
Global plant-based meat market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of plant-based meat market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Plant-Based Meat Market
Few of the major competitors currently working in the global plant-based meat market are Impossible Foods Inc.; Gold&Green Foods Ltd.; VBites Foods Limited; Maple Leaf Foods; Beyond Meat.; Vegetarian Butcher; Conagra Brands, Inc.; Marlow Foods; KELLOGG NA CO.; Amy's Kitchen, Inc.; Sunfed; Tofurky; Atlantic Natural Foods; Fry Family Food; Nutrisoy Pty Ltd; Nasoya Foods USA, LLC, a division of Pulmuone Foods USA, Inc.; Sweet Earth Foods; Hügli Holding AG; Schouten; LIGHTIFE FOODS, INC. and Taifun-Tofu GmbH.
Research Methodology: Global Plant-Based Meat Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure