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Plant-based Meat Market in US - Industry Outlook and Forecast 2019-2024

  • ID: 4758370
  • Report
  • Region: United States
  • 189 pages
  • Arizton
UP TO OFF
until Nov 30th 2019
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FEATURED COMPANIES

  • Abbots Butcher
  • Don Lee Farms
  • Good Catch Fish
  • Impossible Foods
  • Next Level
  • Quorn Foods
  • MORE
The US plant-based meat market size is expected to reach values of around $3 billion by 2024, growing at an impressive CAGR of over 24% during 2018–2024.

The exponential growth of food trucks, delivery, and takeaway and the increasing number of consumers experimenting with new kinds of foods is driving the growth of the US market. Educational institutes have a lot of potentials as parents increasingly go vegetarian or vegan and so do their kids, thereby creating a demand in the market. The US plant-based meat market is driven by plant-based food manufacturers creating foods with profiles that match consumer context of a specific dish to facilitate trial. The introduction of products that are built similar to meat via price and the possibilities of offering a bigger repertoire of flavor profiles will help vendors attract a broader audience in the US market. The market research report provides in-depth market analysis and segmental analysis of the US plant-based meat market by products, storage, and channel.

The report considers the present scenario of the US plant-based meat market and its market dynamics for the period 2019−2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The study includes both the demand and supply side of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.

US Plant-based Meat Market – Dynamics

The growing traction towards the wellness trend is fueling the demand for all things plant, thereby creating lucrative investment opportunities in the US plant-based meat market. Green beauty is going from a niche to a majority; brands are becoming more health-focused, consumers are developing a likeness for intermittent fasting, they are taking more time out to meditate, get some sun, and focus on happiness in the US market. The consumers are beginning to realize that they have to start with their plate to make a long-term change and live a fuller, healthy life from both a physical and a mental perspective. The increasing focus in health and wellness will boost the demand for vegetarian meat and vegan meat in the US market. The holistic approach to food and widespread education about nutrient quality and dejunking will positively impact the growth of the market over the next few years. The rise in allergies and food intolerances is leading to an inherent belief that eliminating toxins that come in the form of chemicals from meat processes such as chlorine baths and consuming natural foods such as whole grains in the market. Various organizations that are working towards building healthier, stronger and more sustainable communities will fuel the growth of the US plant-based meat market.

US Plant-based Meat Market – Segmentation

This market research report includes a detailed segmentation of the market by products, storage, and channel. The US plant-based meat market by product is classified into beef, chicken, pork, seafood, and others. The beef segment dominated approximately half of the total market share in 2018, growing at a CAGR of around 25% during the forecast period. The growing use of vegan meatballs in sauces served as a snack on a toothpick, or is being sliced to sandwich in between bread to bring a variety of option for the non-meat-eating population is fueling the growth of this segment in the US market. The growing demand for all-natural, organic, and vegetarian meats is fueling the growth of the US plant-based meat market.

The storage segment in the US plant-based meat market is divided into frozen, refrigerated, and shelf-stable. Refrigerated storage is the fastest growing segment in the US market, at a CAGR of over 39% during the forecast period. The changing perception of younger consumers that chilled foods are more premium and fresher than frozen food is fueling the growth of this segment in the global market. The growing demand for flavorsome heat-and-eat products is encouraging the vendors to launch refrigerated meat substitutes in the US market. Companies such as Beyond Meat have witnessed massive success in staging their products in the refrigerated meat department or next to conventional meat.

The US plant-based meat market by the channel is segmented into conventional, natural, and specialty gourmet. Conventional channel occupied the majority of the market share in 2018, growing at a CAGR of more than 22% during the forecast period. The increasing number of convenience stores selling new organic or natural products that are plant-based is gaining immense popularity and boosting sales in this segment in the US market. The rapidly escalating demand for better-for-you products is encouraging retailers to stock these products in the US plant-based meat market. Food, drug and mass merchandisers, including Walmart, are the largest distributors in the US plant-based meat market.

Market Segmentation by Product
  • Beef
  • Chicken
  • Pork
  • Seafood
  • Other
Market Segmentation by Storage
  • Frozen
  • Refrigerated
  • Shelf-stable
Market Segmentation by Channel
  • Conventional
  • Natural
  • Specialty Gourmet
US Plant-Based Meat Market Vendor Analysis

In the US plant-based meat market, leading vendors are drawing the attention of consumers and creating appeal for plant-based meats. Many players are leveraging various possibilities and definitions of meat substitutes and are expected to gravitate towards creating a pull in the US market. The top manufacturers are trying to layer flavor over flavor, color over color, texture over texture to attract the maximum number of consumers in the US market. Strategic partnerships are vital for expansions in the US plant-based meat market.

The major vendors in the US plant-based meat market are:
  • Beyond Meat
  • Impossible Foods
  • Greenleaf Foods
  • Hungry Planet
  • Next Level
Other prominent vendors in the US plant-based meat market include Abbots Butcher, Atlantic Natural Foods, Don Lee Farms, Dr. Praeger’s, Gardein, Good Catch Fish, Kraft Heinz Foodservice, Monks Meats, MorningStar Farms, No Evil Foods, Ocean Hugger Foods, Quorn Foods, Sophie’s Kitchen, Sweet Earth, Tofurky, VBites, and Yves Veggie Cuisine.

Key market insights include
1. The analysis of US plant-based meat market provides market size and growth rate for the forecast period 2019-2024.
2. It offers comprehensive insights on current industry trends, trend forecast, and growth drivers about theUS plant-based meat market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of US plant-based meat market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
Note: Product cover images may vary from those shown
2 of 4

FEATURED COMPANIES

  • Abbots Butcher
  • Don Lee Farms
  • Good Catch Fish
  • Impossible Foods
  • Next Level
  • Quorn Foods
  • MORE
1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
4.4.1 Market Segmentation by Products
4.4.2 Market Segmentation by Storage
4.4.3 Market Segmentation by Channel

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market At a Glance

7 Introduction
7.1 Overview
7.2 The State Of The Us Economy
7.3 The Customer Paradigm
7.3.1 Generation Z
7.3.2 Millennials
7.3.3 Baby Boomers
7.4 How The Us Is Eating
7.4.1 Eating Patterns
7.4.2 Food Attributes
7.5 Plant-Based Meat Overview
7.5.1 Plant-based Technology

8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 The Growth of Health Forward and Cost-conscious Consumers
8.1.2 Concerned Citizens Look to Reduce Environmental Ruins
8.1.3 The Rise of Progressive Protein Choices
8.1.4 Development of New Eating Patterns
8.2 Market Growth Restraints
8.2.1 Stiff Competition from Lab-Grown or "Clean" Meat
8.2.2 Psychological and Cultural Barriers
8.2.3 Fight against Fake Meat
8.3 Market Opportunities and Trends
8.3.1 Plant-based Meat is Massively Validated
8.3.2 Wellness Trend Fuels Demand for All Things Plant
8.3.3 Snack-Worthy Faux Meat Gains Traction
8.3.4 Science Gets Leg Up

9 Plant-Based Meat Market In Us
9.1 Market Size & Forecast
9.2 Five Forces Analysis
9.2.1 Threat of New Entrants
9.2.2 Bargaining Power of Suppliers
9.2.3 Bargaining Power of Buyers
9.2.4 Threat of Substitutes
9.2.5 Competitive Rivalry

10 By Storage
10.1 Market snapshot & Growth Engine
10.2 Market Overview
10.3 Frozen Plant-Based Meat
10.3.1 Market Size & Forecast
10.4 Refrigerated Plant-Based Meat
10.4.1 Market Size & Forecast
10.5 Shelf-Stable Plant-Based Meat
10.5.1 Market Size & Forecast

11 By Product
11.1 Market snapshot & Growth Engine
11.2 Market Overview
11.3 Beef
11.3.1 Market Size & Forecast
11.4 Chicken
11.4.1 Market Size & Forecast
11.5 Pork
11.5.1 Market Size & Forecast
11.6 Seafood
11.6.1 Market Size & Forecast
11.7 Others
11.7.1 Market Size & Forecast

12 By Channel
12.1 Market snapshot & Growth Engine
12.2 Conventional Channel
12.2.1 Market Size & Forecast
12.3 Natural Channel
12.3.1 Market Size & Forecast
12.4 Specialty Gourmet Channel
12.4.1 Market Size & Forecast

13 Competitive Landscape
13.1 Competition overview
13.2 Market Vendor Analysis
13.2.1 Market Ranking Analysis

14 Key Company Profiles
14.1 Beyond Meat
14.1.1 Business Overview
14.1.2 Major Product Offerings
14.1.3 Key Strengths
14.1.4 Key Strategies
14.1.5 Key Opportunities
14.2 Impossible Foods
14.2.1 Business Overview
14.2.2 Major Product Offerings
14.2.3 Key Strengths
14.2.4 Key Strategies
14.2.5 Key Opportunities
14.3 Greenleaf Foods
14.3.1 Business Overview
14.3.2 Major Product Offerings
14.3.3 Key Strengths
14.3.4 Key Strategies
14.3.5 Key Opportunities
14.4 Hungry Planet
14.4.1 Business Overview
14.4.2 Major Product Offerings
14.4.3 Key Strengths
14.4.4 Key Strategies
14.4.5 Key Opportunities
14.5 Next Level
14.5.1 Business Overview
14.5.2 Major Product Offerings
14.5.3 Key Strengths
14.5.4 Key Strategies
14.5.5 Key Opportunities

15 Other Prominent Vendors
15.1 Abbots Butcher
15.1.1 Business Overview
15.1.2 Product Offerings
15.1.3 Key Strengths
15.1.4 Key Strategies
15.2 Atlantic Natural Foods
15.2.1 Business Overview
15.2.2 Product Offerings
15.2.3 Key Strengths
15.2.4 Key Strategies
15.3 Don Lee Farms
15.3.1 Business Overview
15.3.2 Product Offerings
15.3.3 Key Strengths
15.3.4 Key Strategies
15.4 Dr. Praeger’s
15.4.1 Business Overview
15.4.2 Product Offerings
15.4.3 Key Strengths
15.4.4 Key Strategies
15.5 Gardein
15.5.1 Business Overview
15.5.2 Product Offerings
15.5.3 Key Strengths
15.5.4 Key Strategies
15.6 Good Catch Fish
15.6.1 Business Overview
15.6.2 Product Offerings
15.6.3 Key Strengths
15.6.4 Key Strategies
15.7 Kraft Heinz Foodservice
15.7.1 Business Overview
15.7.2 Product Offerings
15.7.3 Key Strengths
15.7.4 Key Strategies
15.8 Monks Meats
15.8.1 Business Overview
15.8.2 Product Offerings
15.8.3 Key Strengths
15.8.4 Key Strategies
15.9 Morningstar Farms
15.9.1 Business Overview
15.9.2 Key Strengths
15.9.3 Key Strategies
15.10 No Evil Foods
15.10.1 Business Overview
15.10.2 Product Offerings
15.10.3 Key Strengths
15.10.4 Key Strategies
15.11 Ocean Hugger Foods
15.11.1 Business Overview
15.11.2 Product Offerings
15.11.3 Key Strengths
15.11.4 Key Strategies
15.12 Quorn Foods
15.12.1 Business Overview
15.12.2 Key Strengths
15.12.3 Key Strategies
15.13 Sophie’s Kitchen
15.13.1 Business Overview
15.13.2 Product Offerings
15.13.3 Key Strengths
15.13.4 Key Strategies
15.14 Sweet Earth
15.14.1 Business Overview
15.14.2 Product Offerings
15.14.3 Key Strengths
15.14.4 Key Strategies
15.15 TOFURKY
15.15.1 Business Overview
15.15.2 Product Offerings
15.15.3 Key Strengths
15.15.4 Key Strategies
15.16 VBITES
15.16.1 Business Overview
15.16.2 Product Offerings
15.16.3 Key Strengths
15.16.4 Key Strategies
15.17 Yves Veggie Cuisine
15.17.1 Business Overview
15.17.2 Product Offerings
15.17.3 Key Strengths
15.17.4 Key Strategies

16 Report Summary
16.1 Key Takeaways
16.2 Strategic Recommendations
16.3 Quantitative Summary
16.3.1 Market Size by Product
16.3.2 Market Size by Storage
16.3.3 Market Size by Channel

17 Appendix
17.1 Abbreviations

List of Exhibits
Exhibit 1 Segmentation of Plant-based Meat Market in US
Exhibit 2 Market Size Calculation Approach 2018
Exhibit 3 Defining Elements in Plant-based Meat Market
Exhibit 4 Change in Real GDP in US 2017−2023 (%)
Exhibit 5 Generation Z and Foodservices
Exhibit 6 Millennials and Foodservices
Exhibit 7 Baby Boomers and Foodservices
Exhibit 8 Demand for Health Benefits from Food and Nutrients as their Top Priority
Exhibit 9 Nutrient/Food Sources and Perceived Benefit on Health 2018
Exhibit 10 MyPlate Statistics 2018
Exhibit 11 Impact of The Growth of Health Forward and Cost-conscious Consumers
Exhibit 12 Meat Eating Reduction Statistics 2015
Exhibit 13 Impact of Concerned Citizens Look to Reduce Environmental Ruins
Exhibit 14 The Impact of Meat and Dairy Products from Farm to Fork on the Environment
Exhibit 15 Impact of The Rise of Progressive Protein Choices
Exhibit 16 Plant-based Patty vs. Traditional Beef Patty
Exhibit 17 Impact of Development of New Eating Patterns
Exhibit 18 Eating Styles of US Consumers 2018
Exhibit 19 An Overview of the American Eating Pattern 2018
Exhibit 20 Impact of Stiff Competition from Lab-Grown or "Clean" Meat
Exhibit 21 Likelihood of Buying Clean Meat 2018
Exhibit 22 Most Imperative Elements of Eating Clean Meat 2018
Exhibit 23 Impact of Psychological and Cultural Barriers
Exhibit 24 Impact of Fight against Fake Meat
Exhibit 25 Impact of Plant-based Meat is Massively Validated
Exhibit 26 Impact of Wellness Trend Fuels Demand for All Things Plant
Exhibit 27 A Shift toward Plant-based Diet 2018
Exhibit 28 Impact of Snack-Worthy Faux Meat Gains Traction
Exhibit 29 Annual Spend on Meat Snacks by Generation 2018 ($)
Exhibit 30 Impact of Science Gets Leg Up
Exhibit 31 Plant-based Meat Market in US by Revenue 2018−2024 ($ million)
Exhibit 32 Growth of Plant-based Meat by Region 2018
Exhibit 33 Plant-based Meat Market in US by Volume 2018−2024 (million)
Exhibit 34 Five Force Analysis 2018
Exhibit 35 Incremental Growth by Application 2018−2024 ($ million)
Exhibit 36 Plant-based Meat Market in US by Storage ($ million)
Exhibit 37 Plant-based Meat Market in US by Storage 2018 & 2024
Exhibit 38 Plant-based Meat Market in US - Comparison by Storage 2018−2024
Exhibit 39 Frozen Plant-based Meat market in US 2018−2024 ($ million)
Exhibit 40 Refrigerated Plant-based Meat Market in US 2018−2024 ($ million)
Exhibit 41 Shelf-Stable Plant-based Meat Market in US 2018−2024 ($ million)
Exhibit 42 Incremental Growth by Application 2018−2024 ($ Million)
Exhibit 43 Plant-based Meat Market in US by Products ($ million)
Exhibit 44 Plant-based Meat Market in US by Products 2018 & 2024
Exhibit 45 Plant-based Meat Market in US - Growth Comparison by Products 2018–2024
Exhibit 46 Plant-based Beef Market in US 2018–2024 ($ million)
Exhibit 47 Plant-based Chicken Market in US 2018–2024 ($ million)
Exhibit 48 Plant-based Pork Market in US 2018−2024 ($ million)
Exhibit 49 Plant-based Seafood Market in US 2018–2024 ($ million)
Exhibit 50 Other Plant-based Meat Market in US 2018−2024 ($ million)
Exhibit 51 Incremental Growth by Application 2018-2024 ($ million)
Exhibit 52 Plant-based Meat Market in US by Channel ($ million)
Exhibit 53 Plant-based Meat Market in US by Storage 2018 and 2024
Exhibit 54 Plant-based Meat Market in US - Growth Comparison by Channel 2018–2024
Exhibit 55 Plant-based Meat Market in US by Conventional Channel 2018–2024 ($ million)
Exhibit 56 Plant-based Meat Market in US by Natural Channel 2018–2024 ($ million)
Exhibit 57 Plant-based Meat Market in US by Specialty Gourmet 2018–2024 ($ million)

List of Tables
Table 1 Key Caveats
Table 2 Currency Conversion 2013−2018
Table 3 Foods that Have Potential in Foodservice to be Converted to Plant-based
Table 4 Cities with the Number of Plant-based Businesses 2018
Table 5 Market Ranking Analysis 2018
Table 6 Beyond Meat: Product Offerings
Table 7 Impossible Foods: Product Offerings
Table 8 Field Roast: Product Offerings
Table 9 Hungry Planet: Product Offerings
Table 10 Next Level: Product Offerings
Table 11 Plant-based Meat Market in US by Products ($ million)
Table 12 Plant-based Meat Market in US by Products (%)
Table 13 Plant-based Meat Market in US by Storage ($ million)
Table 14 Plant-based meat market in US by Storage (%)
Table 15 Plant-based Meat market in US by Channel ($ million)
Table 16 Plant-based Meat Market in US by Channel (%)
Note: Product cover images may vary from those shown
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  • Yves Veggie Cuisine
  • VBites
  • Tofurky
  • Sweet Earth
  • Sophie’s Kitchen
  • Quorn Foods
  • Ocean Hugger Foods
  • No Evil Foods
  • Monks Meats
  • Kraft Heinz Foodservice
  • Good Catch Fish
  • Gardein
  • Dr. Praeger’s
  • Don Lee Farms
  • Atlantic Natural Foods
  • Abbots Butcher
  • Next Level
  • Hungry Planet
  • Greenleaf Foods
  • Impossible Foods
  • Beyond Meat
Note: Product cover images may vary from those shown
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