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The global plant-based meat market is expected to exhibit a strong 15.56% CAGR over the forecast period from 2022 to 2030, according to the latest research report from Market Research Future (MRFR). The global plant-based meat market is expected to reach a valuation of USD 12.69 billion by 2030.
The plant-based meat market has experienced unprecedented growth, transcending niche dietary preferences to capture the attention of mainstream consumers globally. This shift has been driven by a multitude of factors, including rising awareness of the environmental impacts of conventional animal agriculture, concerns about health and wellness, and the compelling ethical considerations tied to animal welfare.
Culinary Innovation: A World of Flavors
Plant-based meat companies are rewriting the playbook on food innovation, pushing the boundaries of taste and texture. From burgers that sizzle and bleed like their animal-based counterparts to savory sausages and mouthwatering meatballs, these products cater to a wide range of culinary preferences. Chefs, home cooks, and food enthusiasts alike are embracing the creative potential of plant-based meats to craft a diverse array of dishes that resonate with consumers across the spectrum.
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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.
In December 2020, Beyond Meat announced plans to launch plant-based poultry products in 2021.
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.
In April 2021, Maple Leaf Foods opened a new meat alternative manufacturing plant in Shelbyville, Indiana.
Segmentation:
The global plant-based meat market is segmented on the basis of product type, source, distribution channel, and region.
By product type, the global plant-based meat market is segmented into tofu and tofu products, sausages, seitan, tempeh, and others.
By source, the global plant-based meat market is segmented into soy, wheat, pea, and others. Soy is the dominant category in the global plant-based meat market due to the ease of turning soy protein into meat substitutes.
By distribution channel, the global plant-based meat market is segmented into store-based and non-store-based.
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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.
Asia Pacific is also likely to be a major regional market within the global plant-based meat market over the forecast period due to the widespread popularity of tofu, seitan, tempeh, and other plant-based meat alternatives in East Asia. The widespread vegetarian culture in India is also likely to be a major driver for the plant-based meat market in Asia Pacific, as an increasing number of consumers are buying plant-based meat products in the country.
Discover more research Reports on Food, Beverages & Nutrition Industry, by Market Research Future:
Plant-Based Beverages Market Research Report Information By Source (Fruits, Nuts, Vegetables, Soy, and Seeds & Leaves), By Type (RTD Tea & Coffee, Plant-Based Milk, and Juices), By Distribution Channel (Store-Based, and Non-Store Based), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030
Plant-Based Snacks Market Research Report Information By Product Type (Meat Alternative Snacks, Cereal/Grain-Based Snacks, fruit & Nut Snacks, Plant-Based Snack Bars And Others), By Category (Conventional, Organic, And Others) By Distribution Channel (Store-Based, Non-Store-Based), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2030
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