Market Overview
Growing innovation and product development is likely to be a key trend in the global plant-based meat market over the forecast period. Manufacturers are adopting innovative means to turn plant products into meat substitutes with the same texture and taste as meats. This has resulted in the increasing availability of plant-based meat substitutes, especially in North America and Europe. Many new manufacturers are springing up in these two regions to capitalize on the increasing plant-based boom. This is likely to result in steady growth of the plant-based meat market over the forecast period. The growing technological sophistication in the production of plant-based meats, which has resulted in the production of identical products that mirror the texture and flavor of meats to a high degree, is likely to result in increasing popularity of plant-based meat products in the coming years. This is likely to remain a major driver for the plant-based meat market over the forecast period.
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Competitive Analysis
Leading players in the Global Plant-Based Meat Market include Amy’s Kitchen Inc., Beyond Meat, Garden Protein International Inc., Blue Chip Group Inc., MorningStar Farms LC, VBites Foods Ltd., Schouten Europe BV, Cauldron Foods Limited, Impossible Foods Inc., Maple Leaf Foods Inc., Unilever, House Foods Corporation, Vitasoy International Holdings Limited, and Eden Foods Inc.
The same month, popular fast food brands Hardee’s and Carl’s Jr. added a new suite of breakfast meat items made with Beyond Meat products.
Segmentation
Global Plant-Based Meat Market is segmented based on product type, source, distribution channel, and region.
By distribution channel, the global plant-based meat market is segmented into store-based and non-store-based.
Regional Analysis
Europe holds the largest share in the global plant-based meat market due to the widespread acceptance of veganism in the region. Germany and the UK are the leading regional markets within the Europe market.
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