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According to the latest report by IMARC Group, titled “Plant-Based Meat Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global plant-based meat market size reached US$ 8.22 Billion by 2019. Plant-based meat refers to a vegan alternative to meat that resembles meat products in color, texture, appearance, and taste. It is produced by blending plant protein isolates, starch, vegetable extracts, edible oils, and various other ingredients. Plant-based meat reduces meat intake, thereby minimizing the risks of cardiovascular diseases, lowering blood cholesterol, and balancing calories. Furthermore, plant-based meat variants are ecologically sustainable as they reduce high meat consumption.
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The growing trend of veganism, along with the rising concerns towards animal welfare and protection, is primarily driving the market. Furthermore, the increasing health consciousness among the masses, coupled with the high prevalence of obesity, diabetes, cardiovascular ailments, etc., has propelled the product demand due to its low calorie and high-protein content. Besides this, several awareness programs by numerous animal welfare organizations for reducing excessive animal killing for meat production are also influencing the market positively. Additionally, several manufacturers are introducing vegan meat products with better aroma, texture, and high nutritional value to expand their consumer base, which is further expected to drive the global market for plant-based meat products. Looking forward by IMARC group the global plant-based meat market anticipated to reach a strong growth to 2020-2025.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
