According to the research report, the global plant-based meat market size & share was valued at USD 5.02 Billion in 2021 and is expected to reach USD 27.44 Billion By 2030, to grow at a CAGR of 20.6% during the forecast period.
Plant-based meat is made from plants and fabricated to taste, feel and see like real meat. Plant-based meat is healthier than regular meat as they are lower in calories and saturated fats. Components in plant-based meat involve vegetable protein extract, coconut oil, and beet juice. The diet is a plentiful source of vitamins, antioxidants, fiber, and minerals; thus is authenticated to be beneficial. It is proven to be favorable in prohibiting heart diseases, weight management, and lowering the probability of cancer. Meat alternative diet assists in sustaining a healthy gut microbiome balance.
An increasing number of plant-based meat options are obtainable today. Some of these options are Seitan which is a substitute based on plant meat made from vital wheat gluten. Its salty flavor and chewy texture are complemented in sandwiches, stir fry, pasta, and stews. Nourishing, Seitan contains minute quantities of potassium, calcium, and iron. Beyond is an admired brand of plant-based meat products. At the same time, it is initially acknowledged for its debut vegan burger known as Beyond Burger. The brand also makes plant-based sausages, ground meat chicken, and meatballs.
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Plant-based meat market: Growth leading factors
Increasing worry of the consumers regarding greenhouse gas emissions and animal welfare generated by the prominent practices of the meat industry is pushing the market. Renowned people’s patronage of vegan and vegetarian diets is slated to launch the demand for meat alternatives in the global market. Further, the manufacturers’ inauguration of n new products comparable to meat in the context of texture, flavor, taste, and color increases the demand for the product.
The plant-based meat is principally devoured in hotels, cafes, or restaurants. Significant companies in the industry are cooperating with restaurant chains and fast food joints to encourage product adoption. For instance, fast food joints like Mcdonald’s, Subway, and Burger King are launching new vegan meat products to make the most of the industry subjugated by customers that are health conscious.
The covid-19 pandemic, which caused the infliction of lockdowns, has motivated consumers to order goods online. It has, in turn, has, slated to stimulate the distributors to progress towards online retailing channels. The US has observed the growing demand for plant-based meat over the past few years because of the increasing awareness of consumers of the health advantages of veganism.
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Plant-based meat market: Report Scope
Report Attribute
Details
Market Size 2021 Value
USD 5.02 Billion
Market Outlook for 2030
USD 27.44 Billion
Expected CAGR Growth
20.6 % from 2022 – 2029
Base year
2021
Forecast period
2022 – 2030
Segments covered
By Product, By Source, By Distribution Channel, By Region
Key Companies
Amy’s Kitchen, Beyond Meat, Garden Protein International, Gold & Green Foods, Greenwise, Impossible Foods, Maple Leaf Foods, Morningstar Farms, Novameat, Omnipork, Quorn Foods, Sunfed, The Vegetarian Butcher, Tofurky, V2food, VBites, and Zikooin.
Regional scope
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Customization Options
Customized purchase options are available to meet your research needs.
Plant-based meat market: Key segmentation
By product, the plant-based burger segment is to dominate the market. Elements in these burgers look to emulate the flavor, aroma, and bleeding texture of meat. These foods are not only nutritious but are a healthy alternative to conventional meat products. By source, the soy-based meat segment led the market. It accounted for a significant share of the global revenue because it decreased the formulation costs and displayed a lower carbon footprint. By distribution channel, the rising popularity of flexitarian and vegan diets, many fast-food chains, restaurants, and casual dining venues are committing a section a menu only as a meat-free option.
North America dominated the market by region and reckoned the largest revenue share. The growth of this market in the area is ascribed to growing consumer awareness and probabilities linked with taking in contaminated meat goods, along with increasing consumption of meatless meat products. Consumers became more aware of food safety and sustainability, which accelerated their consumption. Europe is another region that witnessed the speediest growth rate as the consumer had a positive outlook on vegan meat and vegetarian products and implemented strict regulations against brutality towards animals.
Browse the full “Plant-Based Meat Market Share, Size, Trends, Industry Analysis Report, By Source (Soy, Wheat, Pea, and Others); By Product (Burger Patties, Sausages, Strips & Nuggets, Meatballs, Others); By Application (Retail Outlets, Foodservice, E-commerce), By Region; Segment Forecast, 2022 – 2030” Report at https://www.polarismarketresearch.com/industry-analysis/plant-based-meat-market
Key highlights of the report
The market primarily depends on the product, source, distribution channel, and region
Plant-based meat market: By product
Plant-based meat market: By source
Plant-based meat market: By distribution channel
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