Data Bridge Market Research analyzes that the Global Plant-Based Meat Market was valued at USD 9,820 million in 2022 and is expected to reach the value of USD 27,620 million by 2030, at a CAGR of 14.74% during the forecast period of 2023 to 2030.
Industry Analysis
Plant-based meat is becoming a more critical part of the vegan diet as more people switch to a vegetarian diet devoid of animal-based foods. Others are switching to veganism for ethical and health reasons, while some consumers choose vegetarian ingredients to prevent animal cruelty and to consume sustainable food and beverage products. People worldwide are choosing plant-derived alternatives to meat because of the environmental impact and ethical violations associated with animal husbandry and meat production which act as a driver for the plant-based meat market during forecast period of 2023 to 2030.
“Soy” segment is expected to dominate the market as people worldwide are choosing plant-derived alternatives to meat because of the environmental impact and ethical violations associated with animal husbandry and meat production. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Plant-based meat products are made to mimic properties found in natural meats and are considered to be meat substitutes. Plant-based products offer the consumer the main component in a more sustainable and environmentally friendly line than meat products. Using plants and other non-animal products makes them taste, look, and desire like meat. The main components of plant-based meat are soybeans, wheat berries, lentils, tofu, yuba, tempeh, and a spread of nuts.
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
· Others.
On the basis of product type, the Plant-Based Meat Market has been segmented into
· Burger patties,
· Sausages,
· Strips
· Nuggets,
· Meatballs
· 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
· Others.
Based on process, the Plant-Based Meat Market has been segmented into
· Grinding,
· Mixing,
· Blending,
· Forming/shaping,
· Freezing systems
· Storage.
On the basis of end user, the Plant-Based Meat Market has been segmented into
· Households,
· Food industry
· Horeca.
The distribution channel segment of the Plant-Based Meat Market has been segmented into
· Direct
· Indirect.
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Global Plant-Based Meat Market Regional Analysis/Insights
The plant-based meat market is analysed and market size insights and trends are provided by country, source, type, product type, process, distribution channel, storage and end user are as referenced above.
The countries covered in the plant-based meat market report are 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, U.A.E., Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa.
Asia-Pacific is expected to dominate the market and will continue to flourish its trend of dominance during the forecast period. The major factors attributable to the region’s dominance are the popularity of plant-based meat products among consumers.
North America is expected to show significant growth during the forecast period due to the rapid shift in consumers' diets from meat consumption to vegan or vegetarian products. In addition, in the U.S., people are more forced towards environmental, health, and ethical consideration, thus, they are switching to alternatives like plant-based meat.
The country section of the 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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the 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 Market 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.,
· Taifun-Tofu Gmbh
· Among Other
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MAJOR TOC OF THE REPORT
Ø Chapter One: Introduction
Ø Chapter Two: Market Segmentation
Ø Chapter Three: Market Overview
Ø Chapter Four: Executive Summary
Ø Chapter Five: Premium Insights
Ø Chapter Six: Plant-Based Meat Market by Product & Procedure type
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Plant-Based Meat Market Growth Prospects, Trends and Forecast Up to 2030