Global Plant-Based Meat Market was valued at USD 17.80 Billion in 2022 and is expected to reach USD 52.22 Billion by the year 2030, at a CAGR of 14.4%.
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Global Plant-Based Meat Market was valued at USD 17.80 Billion in 2022 and is expected to reach USD 52.22 Billion by the year 2030, at a CAGR of 14.4%.
Plant-based Meat Market products are made from plants that mimic the taste, texture, smell, and appearance of meat in every possible way. For instance, plant-based beef is manufactured from soy protein and it tastes just like beef. Genetically produced yeast gives soy proteins a taste and texture simulating that of beef. Moreover, Faux meats are said to be rich in calcium and protein and have a lower fat compared to animal proteins. This is significant for people who suffer from high cholesterol or heart disease, as they can face the same taste and texture in a healthier option. However, consuming animal meat frequently may increase diseases such as type-2 diabetes, obesity, and heart disease
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The top market Players Covered in the Plant-based Meat Market:
Alpha Foods (US), Beyond Meat (US), Impossible Foods Inc. (US), Hooray Foods (US), Maple Leaf Foods (Canada), The Vegetarian Butcher (Netherlands), Before the Butcher (US), Gardein Protein International (Canada), Yves Veggie Cuisine (Canada), Morningstar Farms (US), Quorn Foods (US), Amy's Kitchen (US), No Evil Foods (US), Tofurky (US), Gold&Green Foods Ltd. (Finland), VBites Food Limited (UK), Sunfed (New Zealand)
The latest research on the Plant-based Meat market provides a comprehensive overview of the market for the years 2023 to 2030. It gives a comprehensive picture of the global Plant-based Meat Market industry, considering all significant industry trends, market dynamics, competitive landscape, and market analysis tools such as Porter's five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Plant-based Meat Market. Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years. The report is designed to help readers find information and make decisions that will help them grow their businesses. The study is written with a specific goal in mind: to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.
Segmentation Analysis of the Plant-based Meat Market:
By Type
By Product
Market share data Market Segment by Regions and Countries Level Analysis:
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COVID-19 Impact on Plant-Based Meat Market:
During the outbreak of the coronavirus pandemic, the meat industry was impacted by warnings of meat scarcity owing to shuttered plants, resulting in price increases, and increasing numbers of sick workers conditions that would potentially create new opportunities for plant-based manufacturers. Traditional meat distribution channels were and remain upraised, as restaurants, schools, and other facilities closed. Decreasing output and growing prices left consumers with fewer options, and plant-based meat substitutes started to see a lift. The plant-based meat industry saw sales growth of 264% in the 9 weeks ended May 2, 2020. While these numbers are still a small portion of meat sales, their growth highlights the opportunity that meat substitutes reached amidst the crisis. Even dairy substitutes saw a growth in the first week of March 2020, oat milk sales were increasing around 347% year-over-year against a backdrop of decreasing dairy demand. As per the research study, sales of oat milk have risen by 1,200% over the past two years alone growth which demonstrates how consumer appetites are switching significantly. Beyond the scarcity, the pandemic has also forced many consumers to experience problems in the meat supply chain for the first time, including the health of the workers or the ethical treatment of animals. Furthermore, some outbreaks, such as that of a Los Angeles pork manufacturing facility owned and functioned by Smithfield Foods, have persisted for over a year, with reports of repeated health and safety violations contributing to an ongoing cycle of infection and interruptions. News of meat factories' concentrated Covid-19 pandemic may cast traditional meat products in a repulsive light, affecting consumers to opt for plant-based substitutes instead.
Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
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Dec 11, 2023
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