Global Plant-Based Meat Market, By Source (Soy, Wheat, Pea, Mycoprotein, Gluten, Others), Product Type (Burger Patties, Sausages, Strips and 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 User (Households, Food Industry, HoReCA), Distribution Channel (Direct, Indirect), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The plant-based meat market size is valued at USD 12.49 billion by 2028 and is expected to grow at a compound annual rate of 14.6% in the forecast period 2021 to 2028. The rapid increase in the obesity rate and high demand for plant proteins is the factor for the growth of plant-based meat market in the forecast period of 2021 to 2028.
Plant-based meat is a type of food products which are sourced from vegan sources not using any meat, but providing similar functionality and taste. These products are designed to counter the major consumption of meats having a drastic impact on the environment.
The major growing factor towards plant-based meat market is the rise in the vegan and flexitarian population across the world. Furthermore, the rise in awareness regarding the health benefits offered by plant-based meat over animal meat and high growth in government initiatives along with significant investments are also expected to heighten the overall demand for plant-based meat market over the forecast period of 2021 to 2028. Moreover, the major food industry investing in and introducing plant-based meat products and increase in the health consciousness trend to influence the global plant-based protein are also expected to serve as foremost drivers for the plant-based meat market at a global level. In addition, the increase in the vegan population and high demand for organic food products are also lifting the growth of the plant-based meat market.
However, the large population allergic to plant-based meat sources such as soy and wheat and high cost of products in comparison to traditional meat are projected to act as a restraint towards the growth of plant-based meat market, whereas the false perception regarding the taste of plant-based meat products can challenge the growth of the plant-based meat market.
Moreover, the alternative solution to meet the growing demand for animal meat products and favorable marketing and correct positioning of plant-based meat are expected to further generate new opportunities for the plant-based meat market in the forecast period of 2021 to 2028.
This plant-based meat market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the plant-based meat market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Plant-Based Meat Market Scope and Market Size
The plant-based meat market is segmented on the basis of source, product type, type, process, end user and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on source, the plant-based meat market has been segmented into soy, wheat, pea, mycoprotein, gluten and others.
- On the basis of product type, the plant-based meat market has been segmented into burger patties, sausages, strips and nuggets, meatballs and others.
- On the basis of type, the plant-based meat market has been segmented into Pork, beef, chicken, fish, tofu, tempeh, quorn, mushroom, seitan, RTC/RTE, natto and others.
- Based on process, the plant-based meat market has been segmented into grinding, mixing, blending, forming/shaping, freezing systems and storage.
- On the basis of end user, the plant-based meat market has been segmented into households, food industry and HoReCA.
- The distribution channel segment of the plant-based meat market has been segmented into direct and indirect. Indirect has further been segmented into modern stores, convenience stores, specialty stores, food stores and e-retailers.
Plant-Based Meat Market Country Level Analysis
The plant-based meat market is analyses and market size, volume information is provided by country, source, product type, type, process, end user and distribution channel as referenced above.
The countries covered in the plant-based meat market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific leads the plant-based meat market because of the rise in popularity of plant based meat products among the consumers. North America is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 due to the rapid shift consumer’s in diet from meat consumption to vegan or vegetarian products.
The country section of the plant-based meat market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Plant-Based Meat Market Share Analysis
The plant-based meat market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to plant-based meat market.
The major players covered in the plant-based meat report are Impossible Foods Inc., Gold&Green Foods Ltd., VBites Foods Limited, Maple Leaf Foods, Beyond Meat, Unilever, Conagra Brands, Inc., Quorn, Kellogg NA Co., Amy's Kitchen, Inc., Sunfed, Tofurky, Atlantic Natural Foods, Inc., Fry Family Food, Nutrisoy Pty Ltd., Nasoya Foods USA, LLC, Nestlé, Hügli Holding AG, Lightlife Foods, Inc., and Taifun-Tofu GmbH among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.