Market Size

The global plant-based meat market size was valued at USD 4.6 billion in 2020 and is estimated to reach a value of USD xx billion in 2027. The Plant-based Meat market analysis shows that it will grow with a CAGR of 15.1% over the forecast period of 2021 to 2027.

Market Driver

Consumer demand in plant-based diets, combined with growing awareness of animal rights issues, is expected to drive market potential. Plant-based meat is an major part of a vegan diet, in which individuals follow a vegetarian diet free of animal products. Thus, an increasing number of people adopting a vegan diet will boost market growth. The United States market is expected to expand rapidly due to growing consumer demand for vegetarian food products that are high in fiber, vitamin C, and iron and processed in a way that minimizes saturated fat and calories. Additionally, manufacturers are concentrating their efforts on developing products with a longer shelf life, improved texture and aroma, and a higher nutritional profile, all of which will contribute to the country's market growth.

Regional Outlook

In 2019, the European market accounted for the lion's share. Veganism's growing popularity in Europe, particularly in the United Kingdom, is expected to increase demand for plant-based meat products. North America is the market's epicenter for plant-based meat, as the region is home to pioneering companies such as Impossible Foods Inc. (US) and Beyond Meat (US), which pioneered the development of plant-based meat products. Plant-based food products are gaining popularity in the Asia Pacific region, owing to the adoption of healthy lifestyles, which encourage consumers to choose natural ingredients. This is expected to result in an increase in sales of plant-based foods. Additionally, demand for plant-based meat products is expected to grow in the coming years, owing to growing consumer concerns about animal protein sources, ethical concerns, and environmental concerns.

Segmental Outlook

From 2021 to 2027, the pea based segment is expected to grow at the fastest rate. Pea-based meat is simple to grow and relatively inexpensive to farm. This product is nutrient-dense, containing thiamine, fiber, phosphorus, manganese, folate, and vitamins K and C. The product's ability to aid in the maintenance of metabolic activities in the human body, such as lipid synthesis and cell division, is expected to boost demand during the forecast period. Additionally, pea-based patties have the ability to easily be substituted for beef, chicken, or pork-based patties in burgers. Numerous characteristics, including a high protein content, a texture and consistency similar to meat, ease of availability, and rapid preparation, are likely to increase consumer demand for pea-based meat products.

Research Methodology

Plant-based Meat market report consists of market analysis including both primary and secondary research. Primary research comprises of the interaction between manufacturers, industry experts channel partners, and end users, while the secondary research presents an analytical interpretation of relevant published databases, which contains details like company annual reports, and financial reports, white papers, and purchased databases. For single, team and corporate user license, we will provide 15% free customization of the report. However, alternatively, if you are looking for additional data or insight related to the scope of the report, you may purchase the "Customized Research License". Please put an enquiry for the pricing details.

About Us

Market Insight Solutions is a leading market research firm which caters to a diverse portfolio of research campaigns. We are one of the fastest growing research organization led by an extensive team of individuals. Our team has individuals with more than 10 years of experience in diverse research domains. Our strategic insights aim at providing credible and practical solutions to meet the specific requirements of our clients. We offer market studies on basis of facts across cross domains.

Segments covered in the report

Plant-based Meat Market Size and Outlook by Type

• Beef
• Chicken
• Pork
• Fish
• Others (lamb and turkey)

Plant-based Meat Market Size and Outlook by Product

• Burger patties
• Strips & nuggets
• Sausages
• Meatballs
• Others (fillets, slices, slides, etc.)

Plant-based Meat Market Size and Outlook by Source

• Soy
• Wheat
• Pea
• Others (Oats, nuts etc.)

Plant-based Meat Market Size and Outlook by Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • South Korea
  • Australia
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

Companies Profiled in this Report

• Amy's Kitchen (US)
• Beyond Meat (US)
• Gardein Protein International (Canada)
• Gold&Green Foods Ltd. (Finland)
• Impossible Foods Inc. (US)
• Maple Leaf Foods (Canada)
• Morningstar Farms (US)
• Quorn Foods (US)
• The Vegetarian Butcher (Netherlands)
• Tofurky (US)

Actionable Outcomes

Our study offers a thorough assessment of estimations and projections on the market dynamics. Further, it helps in the implementation of these results as they show tangible benefits to business stakeholders and industry entities decisions as leaders.

Strategic Planning

Every business needs to understand how their product will function in the forthcoming years. With the current uncertainness due to the COVID -19 scenario, this analysis becomes significant to understand past disruptions and boost the preparedness for the next steps of decision. We at Market Insight Solutions are trying to break down the complex market for the business leaders through strategic insights and resilience in unpredictable situations.

Highlights of the report:

• COVID-19 impact on Plant-based Meat market size
• Plant-based Meat market size, drifts, drivers and opportunities
• Analyzing the regional market for the growth factors, estimated analysis and its penetration to the global market
• Plant-based Meat market size in United States
• Understanding the dynamics of the parent market
• Prime fluctuations of the market dynamics
• Evaluation of the market opportunities
• Historical, current, and projected Plant-based Meat market size from the standpoint of both value and volume
• Market segmentation and comprehensive analysis in the second or third level
• Reporting and evaluation of recent industry developments
• Analysis of market share and developments
• Detailed company profiling of leading companies
• Opportunities to newer markets in global and regional markets
• Analyzing the trajectory line of the business
• Analyze Plant-based Meat market share
• Measures to consider for Plant-based Meat market