Plant-based Meat Market Size, Share Analysis, Key Companies, and Forecast To 2030

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The Global Plant-Based Meat Market size was USD 5.04 Billion in 2021 and is expected to register a revenue CAGR of 15.4% during the forecast period.

Global Plant-based Meat Market report added by Reports and Data provides insights into the current market scenario with regards to sales, growth rate, market share, and market size. The investigative research report offers a complete analysis of the challenges, restraining factors, market growth prospects, technological and product advancements, RD developments, threats, and investment opportunities in the global market. The report also covers fundamental aspects of the Plant-based Meat market inclusive of lucrative business approaches, market demands, prominent players of the industry, and a futuristic outlook for the market for the forecast period of 2022-2030. The report also offers insights into how the market revenue is expanding in domestic and international markets and contributing to global economy.

The global Plant-based Meat Market size is expected to reach USD 17.75 Billion in 2030 and register a revenue CAGR of 15.4% during the forecast period, according to a latest report by Reports and Data. Increasing awareness regarding health issues associated with over-consumption of animal meat and shifting inclination towards vegetarianism and veganism are key factors expected to drive market revenue growth over the forecast period. Plant-based meat products are products that have properties similar to animal meat products, but are comparatively healthier and environmentally friendly.

The report studies financial information gathered by extensive primary and secondary research to offer accurate market insights. The report also offers a holistic overview of the market share, market size, market revenue growth, and segments and sub-segments along with strategic recommendations to key market players and new entrants. The report also emphasizes nascent market segments and provides insights into the growth prospects and opportunities.

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Key Participants:

  • Impossible Foods (US),
  • Garden Protein International (US),
  • Meat (US)Bristol-Myers Squibb,
  • Morningstar Farms (US),
  • Amy’s Kitchen (US),
  • Others

The key market players in this industry are adopting various strategies like new product launches, expansion, partnerships, mergers, acquisitions, and technology advancements. For example, in 2019, Impossible Foods, the key creator of this industry introduced a revised version of Impossible Burger 2.0 with the improved recipe and a lot meatier. An increase in awareness of healthy eating habits coupled with the increasing number of population inclining towards vegan foods is likely to drive the growth in this industry. However, consumption of ‘heme’ an important ingredient in the production of this industry is linked with the formation of carcinogens, owing to which it is difficult to convince non-vegetarians about the taste of vegan food. Moreover, intense market competition is also expected to hinder the industrial growth during the forecast period.

The report has been formulated through extensive research and provides insights into the paradigm shifts observed in the market to assist readers maximize on their investments and capitalize on the recent development and competitive landscape of the global market. The report is an exhaustive assessment of the crucial aspects of the market including key geographical regions, technology, product types, application spectrum, key companies operating in the market, and overall industry overview.

Further Key Findings From The Report Suggest:

  • This industry is growing at a CAGR of 15.9% in the Asia Pacific followed by North America and Europe, with 14.6% and 14.4% CAGR, respectively. North America and Europe contributed about 2/3rd of the total industry during the forecast period.
  • As of 2018, the Soy source type segment is the dominating sub-segment which holds 324% of the global market by 2026. North American regional market is the chief revenue-generating source for this product segment, followed by Europe and Asia-Pacific regions.
  • According to the Food Revolution Organization report, published in 2018, the number of vegetarians in the United States has increased by 600% from the past 3 years. This is expected to drive the demand for this industry.
  • An increase in sedentary work, relaxed lifestyle and increased automation has led to a substantial decrease in the physical movement of the people thus aggregating the process of gaining weight.
  • Furthermore, economic development, a rise in the standard of living of the population and an increasing proportion of the young population has led to an increase in the inclination towards fast-food, eventually adding to the obesity among the population.

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Market Segmentation:

Source Type (Revenue, USD Million; 2019–2030)

  • Soy
  • Wheat
  • Peas
  • Gluten-based
  • Others

Product Type (Revenue, USD Million; 2019–2030)

  • Tofu
  • Tempeh
  • Seitan
  • Mushrooms
  • Others

Storage technique Type (Revenue, USD Million; 2019–2030)

  • Frozen
  • Refrigerated
  • Shelf-Stable
  • Others

End Use (Revenue, USD Million; 2019–2030)

  • Food Industry
  • Households
  • HoReCa
  • Others

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Regional Outlook (Revenue in USD Million; 2019–2030)

  • North America:
  • Europe:
  • Asia Pacific:
  • Middle East Africa:
  • Latin America:

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