Global Plant-based Meat market is projected to reach USD 14.3 billion by the end of 2026, growing at a CAGR of 14.5% during the forecast Period (2019-2026)

The key factors driving the plant-based meat market growth are rising vegetarians and the flexitarians population as consumers are becoming more health-conscious and switching to healthier diets. Introduction of plant-based meat, which has a meaty texture, juiciness, and more fibrous consistency like meat coupled with increasing concern towards animal welfare and greenhouse gas emission is boosting the plant-based meat market. The increase in vegetarian and vegan population across the globe is one of the major factor anticipated to dominate the growth of plant-based meat in the market.

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Global livestock industry accounts for 15% of the total global greenhouse gas emissions and this share is expected to rise as meat consumption is on the rise across the globe. The lawmakers in countries such as Germany, Denmark, and Sweden are proposing increase on value-added tax on animal-based meat products. More and more people are moving to Plant-based meat from meat due to concern about health and to protect climate change coupled with solid essential amino acids, vitamins profile and constitutes similar palatable taste and texture. The entry of meat giants such as Tyson Foods and Smithfield in plant-based meat market is bring this market into a mainstream market and this market is started to get attention from major food companies.

Soy segment is expected to dominate the market during the forecast period due to its meaty taste and texture with more fiber along with high production of soybean globally. Also, soy-based meat products contain high protein and low saturated fat makes it a popular raw material choice for plant-based meat.

Burger patty segment captured the largest market share in 2018 because of low calories with cholesterol-free compared to beef. The burger patty is getting traction as more and more fast-food restaurant chains such as Burger King, White Castle, MacDonald’s, Subway and Dunkin’s Donuts are launching plant-based products to target health conscious customers.

HoReCa segment is accounted for the largest market share in 2018 as plant-based meat manufacturers are tying up with restaurants chains to push their plant-based meat products as big restaurant chains like Burger King, White Castle, MacDonald’s, Subway and Dunkin’s Donuts began offering new products based on plant-based meat to capture a market share of health-conscious customers.

North America region is estimated to grow at the fastest CAGR till 2026 due to an increase in vegetarian and flexitarian population. High obesity & cardiovascular diseases rate across the region, which are linked to higher consumption of processed meat is driving consumers away from meat. The consumers are switching to healthier diets and plant-based products, which taste more like meat and have almost the same protein content will drive the market in the coming years. However, Europe will grow at a healthy rate owing to high health awareness benefits of vegan products among consumers, high availability of plant-based meat products in grocery stores, cultural shift towards organic natural ingredient-based food habits.

Major players operating in Plant-based meat market are Beyond Meat Inc., Tyson Foods Inc., Royal Wessanen, Marfrig Global Foods S.A., Nestle S.A., Pinnacle Foods Inc. (Subsidiary of Conagra Brands, Inc.), MorningStar Farms (Division of Kellogg Company), Impossible Foods Inc., Orkla Foods (Brand name is Naturli), Maple Leaf Foods Inc., Sunfed Ltd., Quorn Foods, Amy’s Kitchen, VBites, among others.

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The global plant-based meat market has been segmented based on source, product, point of sales and key geographies. Based on the Source Type, global plant-based meat market has been segmented into soy, pea, wheat, and others. Based on the Product Type, global plant-based meat market has been segmented into burger patty, sausage, nugget, ground meat and others. Based on End-Users, the market has been segmented into HoReCa and household/retail.

Key questions answered in this research report:

• At what pace is Plant-based meat market growing, globally? What will be the growth trend in future?
• What are the key drivers and restraints in the plant-based meat market? What will be the impact of drivers and restraints over the coming years?
• What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the Plant-based meat market?
• What are the various products types areas and how they are poised to grow?

Market Segmentation

By Source Type

• Soy
• Wheat
• Pea
• Others  

 By Product

• Burger patty
• Sausage
• Nugget
• Ground Meat
• Others

By End-Users

• HoReCa
• Household/Retail

By Geography

• North America

As a part of the customization

• By Source Type
• By Product
• By End-Users
• US
• Canada
• Mexico

• Europe

As a part of the customization

• By Source Type
• By Product
• By End-Users
• Germany
• Netherlands
• UK
• France
• Italy
• Spain
• Rest of Europe

• Asia-Pacific

As a part of the customization

• By Source Type
• By Product
• By End-Users
• China
• India
• Japan
• Rest of APAC

• ROW

As a part of the customization

• By Source Type
• By Product
• By End-Users
• Brazil
• Australia
• South Africa

Rest of the world

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