The Global Plant Based Meat Market size is predicted to attain US$ 23.81 Billion via 2030. Plant-based Meat refers to food products that mirror conventional animal-based totally meats' flavor, texture, and look but are composed of plant-derived substances. Innovatively crafted from assets like soy, peas, or mushrooms, those alternatives purpose to offer a sustainable and ethical for conventional Meat. Plant based meats are an exceptional alternative for human beings with various nutritional opportunities, inclusive of vegetarian and vegan life, as they are filled with protein. The plant based meat market share has extended because of growing environmental issues, health consciousness, and ethical problems. This market affords an ecofriendly and cruelty free solutions even as difficult conventional norms in the culinary globally.
Addressing moral worries associated with animal welfare and antibiotic use, plant-based options resonate with consumers looking for more humane selections, aligning with their values. The accessibility of plant-based meat in mainstream supermarkets and restaurants, coupled with an increasing number of competitive prices, is increasing its reach to a broader consumer base. This dual recognition on sustainability and ethics is propelling the growth of the plant-based meat market, reflecting a changing panorama driven by conscious consumer picks.
Likewise, the growing popularity of flexitarian diets, incorporating both plant-based and animal products, broadens the appeal of plant-based meat to a diverse consumer base aiming to reduce meat intake. Substantial investments from undertaking capitalists and established food agencies are driving innovation in technology, substances, and product services in the plant-based meat market growth. Beyond Meat secured US$1 billion in investment in 2022 to make bigger production and introduce new products, even as Nestlé launched its “Garden Gourmet”brand with a focus on realistic textures and flavors. Unilever's acquisition of The Vegetarian Butcher similarly emphasizes the strategic shift closer to alternative proteins in the worldwide market. Hence, the Global Plant Based Meat Market was valued at US$ 7.43 Billion in 2023.
Acknowledging the emotional and cultural significance of pork intake in some cultures, plant-based options preserve connections while aligning with personal values. Strategic psychological pricing, branding with acquainted phrases, and targeted advertising campaigns collaborate with cooks, eating places, and influencers to promote the taste, texture, and environmental benefits of plant-based beef alternatives, fostering market increase.
The efficient and cost-effective manufacturing of burger patties allows competitive pricing, fostering broader accessibility and market boom. Their integration into restaurant and fast-food menus normalizes plant-based options, making them widely available. Leveraging acquainted burger terminology and imagery complements branding and marketing efforts, growing a recognizable and relatable class in the plant-based meat market.
Cost-effectiveness and established supply chains in the food service zone reduce financial limitations for wider adoption. Collaborations between plant-based meat manufacturers and restaurants yield co-branded products, exceptional menus, and promotions, improving attention. Restaurants adapting to the flexitarian trend by offering various plant-based dishes alongside regular menus attract to a broader patron base. Tailoring services to precise demographics further increase typical appeal and market penetration.
Convenience and cooking flexibility enhance appeal, particularly for time-conscious individuals. Extended shelf life, minimized food waste, and extended retail presencecontribute to market growth. Positioned as top rate services with precise blends and flavors, refrigerated plant-based meats cater to discerning consumers. Also, environmental considerations, inclusive of lower electricity consumption, align with sustainability trends; further propel the market's enlargement.
Major Chinese agencies and tech giants are making an investment notably in the zone, fostering innovation in components, textures, and flavors tailored to Chinese tastes. The wider availability of plant-based options in supermarkets, eating places, and online systems enhances accessibility, facilitating easy integration into diets. A cultural shift, especially among younger generations embracing diverse culinary research, propels the adoption of plant-based meat. Growing environmental concerns further boost this shift, with local manufacturers growing products aligning with Chinese choices, in the long run improving market attractiveness.
Global plant-based Meat market is anticipated to grow at a CAGR of 18.10% between 2024 and 2030
People increasingly prioritize health and are turning to alternatives to standard Meat. This is because Meat is perceived as high in saturated fats and cholesterol. In comparison, plant-based Meat is perceived as a more fit desire due to the fact it's low in saturated fat and cholesterol and rich in fiber and critical vitamins. Advancements in taste and texture also make plant-primarily based Meat more attractive to buyer who're hesitant to attempt plant-based alternatives. Moreover, the extended form of plant-based meat products, along with bird, chicken, fish, and ground meat substitutes, gives various alternatives beyond burgers and sausages. This progressed range and availability cater to numerous dietary options, reflecting the evolving landscape of more healthy and sustainable meals alternatives.Addressing moral worries associated with animal welfare and antibiotic use, plant-based options resonate with consumers looking for more humane selections, aligning with their values. The accessibility of plant-based meat in mainstream supermarkets and restaurants, coupled with an increasing number of competitive prices, is increasing its reach to a broader consumer base. This dual recognition on sustainability and ethics is propelling the growth of the plant-based meat market, reflecting a changing panorama driven by conscious consumer picks.
Likewise, the growing popularity of flexitarian diets, incorporating both plant-based and animal products, broadens the appeal of plant-based meat to a diverse consumer base aiming to reduce meat intake. Substantial investments from undertaking capitalists and established food agencies are driving innovation in technology, substances, and product services in the plant-based meat market growth. Beyond Meat secured US$1 billion in investment in 2022 to make bigger production and introduce new products, even as Nestlé launched its “Garden Gourmet”brand with a focus on realistic textures and flavors. Unilever's acquisition of The Vegetarian Butcher similarly emphasizes the strategic shift closer to alternative proteins in the worldwide market. Hence, the Global Plant Based Meat Market was valued at US$ 7.43 Billion in 2023.
Soy is the primary source for plant-based meat is dominant in the global market
By source, the Global Plant Based Meat Market is divided into Soy, Pea, Wheat, and Others. Soybeans are a pivotal player in the plant-based meat industry, offering a cost advantage and boast a high protein content of round 35%, crucial for mimicking animal meat. Soy protein isolate and concentratebring precise purposeful properties, permitting diverse meat-like textures. The processing versatility, from tofu to protein isolates, lets in innovative freedom in product improvement. With a well-set up international supply chain, soy enables cost-effective sourcing. Its ancient intake in various cultures, specifically in Asia, fosters familiarity and customer popularity, easing the adoption of soy-based plant-based meats.Beef-flavoured and textured plant-based meat options are growing in the global market
By meat type, the Global Plant Based Meat Market is broken up into Chicken, Pork, Beef, Fish, and Others. Plant-based beef options, aiming to capture a share of the moneymaking traditional meat market, leverage technological advancements for more sensible textures and flavors, attracting health-awareness, environmentally conscious, and ethically encouraged consumers. These alternatives, replicating beef's numerous culinary applications, cater to various tastes and options, consisting of grill lovers.Acknowledging the emotional and cultural significance of pork intake in some cultures, plant-based options preserve connections while aligning with personal values. Strategic psychological pricing, branding with acquainted phrases, and targeted advertising campaigns collaborate with cooks, eating places, and influencers to promote the taste, texture, and environmental benefits of plant-based beef alternatives, fostering market increase.
The combination of familiarity, convenience, versatility, and market dynamics of burger patties ensure its continued leadership in the foreseeable future
By product type, the Global Plant Based Meat Market is fragmented into Burger Patties,Sausages, Nuggets and Strips, Ground Meat, Meatballs, and Others. Plant-based burgers, a universally liked and convenientformat, ease consumer adoption by offering an acquainted experience with reduced perceived threat. The flexible burger patties, adaptable to diverse cooking techniques and customizable with numerous toppings, sauces, and condiments, cater to various flavor alternatives. Defined portion sizes provide nutritional transparency, appealing to health-aware individuals and people dealing with calorie intake.The efficient and cost-effective manufacturing of burger patties allows competitive pricing, fostering broader accessibility and market boom. Their integration into restaurant and fast-food menus normalizes plant-based options, making them widely available. Leveraging acquainted burger terminology and imagery complements branding and marketing efforts, growing a recognizable and relatable class in the plant-based meat market.
Food service distribution channel is experiencing significant growth in the global plant-based meat market
By distribution channel, the Global Plant Based Meat Market is categorized into Food Retail, Food Service, and E-Commerce. The surge in plant-based meat interest is met with diverse eating place options, permitting sampling and home adoption. This channel caters to the benefit sought bybusy or less cooking-willing individuals. Chef-driven innovation expands plant-based services, attracting adventurous customers and driving market boom.Cost-effectiveness and established supply chains in the food service zone reduce financial limitations for wider adoption. Collaborations between plant-based meat manufacturers and restaurants yield co-branded products, exceptional menus, and promotions, improving attention. Restaurants adapting to the flexitarian trend by offering various plant-based dishes alongside regular menus attract to a broader patron base. Tailoring services to precise demographics further increase typical appeal and market penetration.
The rapid growth of refrigerated plant-based meat demonstrates refrigerated products potential to become the dominant format in the future
By storage, the Global Plant Based Meat Market is divided into Refrigerated Plant Based Meat, Frozen Plant Based Meat, and Shelf Stable Plant Based Meat. Refrigerated plant-based meat products gain prominence because of perceived freshness and quality, meeting patron preferences for immediate consumption and willingness to pay premiums. Improved taste and texture, stemming from ingredient and processing improvements, attract previously hesitant consumers.Convenience and cooking flexibility enhance appeal, particularly for time-conscious individuals. Extended shelf life, minimized food waste, and extended retail presencecontribute to market growth. Positioned as top rate services with precise blends and flavors, refrigerated plant-based meats cater to discerning consumers. Also, environmental considerations, inclusive of lower electricity consumption, align with sustainability trends; further propel the market's enlargement.
China is emerging as a major player in the global plant-based meat market
By country, the Global Plant Based Meat Market is fragmented intoUnited States, Canada, France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey, China, Japan, India, South Korea, Thailand, Malaysia, Indonesia, Australia, New Zealand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa, and Rest of World. The surge in health and environmental focus amongst Chinese clients is driving demand for plant-based meat alternatives, supported by government policies imparting incentives and tax breaks.Major Chinese agencies and tech giants are making an investment notably in the zone, fostering innovation in components, textures, and flavors tailored to Chinese tastes. The wider availability of plant-based options in supermarkets, eating places, and online systems enhances accessibility, facilitating easy integration into diets. A cultural shift, especially among younger generations embracing diverse culinary research, propels the adoption of plant-based meat. Growing environmental concerns further boost this shift, with local manufacturers growing products aligning with Chinese choices, in the long run improving market attractiveness.
Key Players
Prominent players in the Global Plant Based Meat Market are Beyond Meat, Conagra Brands, Maple Leaf Foods Inc, Tyson Foods Inc, Kellanavo, Archer Daniels Midland, US Foods Holding, and Hormel Foods Corporation.This research report provides a detailed and comprehensive insight of the Global Plant Based Meat Industry
Source - Global Plant Based Meat Market breakup from 4 viewpoints:
- Soy
- Pea
- Wheat
- Others
Meat Type - Global Plant Based Meat Market breakup from 5 viewpoints:
- Chicken
- Pork
- Beef
- Fish
- Others
Product Type - Global Plant Based Meat Market breakup from 6 viewpoints:
- Burger Patties
- Sausages
- Nuggets and Strips
- Ground Meat
- Meatballs
- Others
Distribution Channel - Global Plant Based Meat Market breakup from 3 viewpoints:
- Food Retail
- Food Service
- E-Commerce
Storage - Global Plant Based Meat Market breakup from 3 viewpoints:
- Refrigerated Plant Based Meat
- Frozen Plant Based Meat
- Shelf Stable Plant Based Meat
Countries - Global Plant Based Meat Market breakup from 26 viewpoints:
North America
- United States
- Canada
Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherland
- Turkey
Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Malaysia
- Indonesia
- Australia
- New Zealand
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
Rest of the World
All companies have been covered from 3 viewpoints:
- Overview
- Recent Development
- Revenue
Company Analysis
- Beyond Meat
- Conagra Brands
- Maple Leaf Foods Inc
- Tyson Foods Inc
- Kellanavo
- Archer Daniels Midland
- US Foods Holding
- Hormel Foods Corporation
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Global Plant Based Meat Market
4. Market Dynamics
6. Market Share - Global Plant Based Meat Market
7. Source - Global Plant Based Meat Market
8. Meat Type - Global Plant Based Meat Market
9. Product Type - Global Plant Based Meat Market
10. Distribution Channel - Global Plant Based Meat Market
11. Storage - Global Plant Based Meat Market
12. Countries - Global Plant Based Meat Market
13. Porter’s Five Forces Analysis - Global Plant Based Meat Market
14. SWOT Analysis - Global Plant Based Meat Market
15. Key Players Analysis
List of Figures
List of Tables
Companies Mentioned
- Beyond Meat
- Conagra Brands
- Maple Leaf Foods Inc
- Tyson Foods Inc
- Kellanavo
- Archer Daniels Midland
- US Foods Holding
- Hormel Foods Corporation
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | January 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 7.43 Billion |
| Forecasted Market Value ( USD | $ 23.81 Billion |
| Compound Annual Growth Rate | 18.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
