Polaris Market Research conducted a comprehensive research study spanning over [+110] pages, revealing that the global plant-based meat market size/share was valued at USD 6,135.43 Million in 2022. The study further indicates that the market will grow at a compound annual growth rate (CAGR) of 17.1% and is projected to touch USD 30,601.36 Million By 2032. The soy segment is expected to hold the largest market share during the forecast period because it is a high-quality source of plant-based protein and fiber, making it a popular choice for meat alternatives. Some of the top market leaders are Gold & Green Foods, Zikooin, Amy's Kitchen, Tofurky, Garden Protein International, Beyond Meat, Greenwise, Impossible Foods and others.
New York, NY, Aug. 09, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Plant-Based Meat Market Share, Size, Trends, Industry Analysis Report, By Source (Soy, Wheat, Peas, Others); By Products; By Distribution Channel; By Region; Segment Forecast, 2023 - 2032” in its research database.
“As per the latest research analysis, the global plant-based meat market size/share will be valued at roughly USD 6,135.43 Million in 2022, and its revenue is projected to reach about USD 30,601.36 Million By 2032. The market is forecasted to expand at a compound annual growth rate of approximately 17.1% between 2023 and 2032.”
What is Plant-Based Meat? How Big Is Plant-Based Meat Market Size & Share?
Foods that resemble animal meat but are manufactured from soy or other legumes, yeasts, wheat, or other plants are known as plant-based meats. They may also be known as vegan meats or meat substitutes. These may look, taste, and feel quite similar to beef. Plant-based meats, such as chicken, burgers, pepperoni, sausage, and ham, are vegan or vegetarian substitutes for animal flesh and meat.
Moreover, plant-based meats are a rich source of minerals, vitamins, and antioxidants, which all have health benefits. Also, it is becoming an increasingly essential component of vegan diets as more people migrate to vegetarian lifestyles for ethical reasons or to better their health, expanding the plant-based meat market demand.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 110+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Leaders Are:
- Gold & Green Foods
- Amy's Kitchen
- Garden Protein International
- Beyond Meat
- Impossible Foods
- Quorn Foods
- Maple Leaf Foods
- The Vegetarian Butcher
- Morningstar Farms
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Plant-Based Meat Market: Report Scope
|Revenue Forecast in 2032||USD 30,601.36 Million|
|Market size value in 2023||USD 7,417.12 Million|
|Expected CAGR Growth||17.1% from 2023 – 2032|
|Forecast Year||2023 – 2032|
|Top Market Players||Gold & Green Foods, Zikooin, Amy's Kitchen, Tofurky, Garden Protein International, Beyond Meat, Greenwise, Impossible Foods, Novameat, Quorn Foods, Sunfed, Omnipork, Maple Leaf Foods, V2food, The Vegetarian Butcher, Morningstar Farms, and VBites|
|Segments Covered||By Source, By Product, By Distribution Channel, By Region|
|Customization Options||Customized purchase options are available to meet any research needs. Explore customized purchase options|
Prominent Growth Driving Factors
- Growing potential health risks: One of the important aspects is the growing concern over the risk of animal-borne diseases, including the consequence of the COVID-19 pandemic. As consumers become more aware of the possible health dangers associated with eating animal products, there is a growing desire for plant-based alternatives that offer a safer alternative.
- Rising health issues: Health concerns and a desire for healthier food drive growth in the plant-based meat market size. Consumers are becoming increasingly aware of the connection between diet and non-communicable diseases, obesity, and digestive disorders. As a result, they are looking for plant-based non-vegetarian alternatives that provide health benefits while mitigating these issues.
- Increased demand for soy: As it improves crucial features of the end product, including texture and nutritional content, demand for soy as a component of plant-based meat is expected to rise. Soy includes all of the necessary amino acids for human growth. The plant-based meat business is quickly expanding, with rising demand for beef alternatives such as chicken, hog, and seafood analogs.
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- Beyond Meat announced the purchase of a new manufacturing plant in Enschede, the Netherlands, in June 2020. By establishing a foothold in the Netherlands, Beyond Meat hoped to increase production capacity and match the growing demand for plant-based meat products in the European market.
- Valio Oy completed a substantial acquisition in 2022 when it purchased Gold & Green Foods Oy. This purchase includes all intellectual property rights, R&D capabilities, and brand rights related to Gold & Greens. Valio intends to increase its position in the plant-based food market and expand its international presence by acquiring Gold & Green Foods.
Top Findings of the Report
- One of the primary market drivers in the plant-based meat sector is the global expansion in vegan and flexitarian populations. Furthermore, demand for plant-based meat is expected to rise as more people become aware of the health benefits of plant-based meat over animal meat and as government initiatives and investments expand significantly.
- The plant-based meat market segmentation is mainly based on product, source, distribution channel, and region.
- North America accounted for the highest share in 2022.
Top Trends Influencing the Market
- Increased awareness about nutritional content: The plant-based meat market share is expanding due to rising nutritional content awareness and a growing desire to lessen animal slaughter. The demand for plant-based meat products is also fueled by the rise of flexitarian customers, who want to consume less meat.
- Ability to resemble animal-based Meat: Plant-based substitutes closely resemble traditional meat's flavor, texture, look, and aroma. This meat alternative often has less saturated fat than ground beef while still being a rich iron, fiber, and folate source. Also, beet juice, vegetables, protein extract, and coconut oil are important components of plant-based meat substitutes.
- Increased vegetarian population: The popularity of the plant-based meat sector is anticipated to increase even more in the upcoming years. It can be ascribed to a shift in consumer preferences toward meat alternatives, brought on by an increase in the number of vegetarians and the adoption of flexitarian diets, where people eat less meat.
- Soy Sector Holds the Largest Market Share
Given its reputation as a top-notch plant-based fiber and protein source, soy is important in creating meat substitutes. It's adaptability and a broad range of uses, particularly in the creation of sausages and hamburgers, help to explain why it currently holds a prominent position in the plant-based meat market.
Moreover, soy is a complete protein source with all nine essential amino acids, one of its main benefits. The body needs essential amino acids for healthy repair, growth, and maintenance. Because soy contains all nine essential amino acids, it is a very valuable source of protein for people who eat a plant-based or vegetarian diet.
- The Burger Patties Sector Holds the Fastest Share
The plant-based burger patties are created to imitate the flavor and texture of meat and provide non-vegetarian consumers with a similar sensory experience. This feature draws a larger range of customers, including those who enjoy the taste of meat but seek out more ethical and sustainable substitutes.
Furthermore, burger patties may be created quickly compared to other plant-based meat products requiring complex production methods. It boosts production capacity while also meeting the increasing plant-based meat market demand.
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|By Source||By Product||By Distribution Channel|
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North America: Because of the increased frequency of cardiovascular diseases, such as diabetes and cancer, which has encouraged consumers to adopt plant-based non-veg products as a preventive strategy against these diseases, the plant-based meat market in North America accounted for the greatest share. This health-conscious tendency is a crucial driver in expanding the plant-based meat sector.
Browse the Detail Report “Plant-Based Meat Market Share, Size, Trends, Industry Analysis Report, By Source (Soy, Wheat, Peas, Others); By Products; By Distribution Channel; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://polarismarketresearch.com/industry-analysis/plant-based-meat-market
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The Report Answers Questions Such As
- What major factors will drive the plant-based meat market growth?
- According to the research, what is the industry size during the predicted period?
- Which region will provide more business opportunities for the market in the future?
- Who are the plant-based meat market key players?
- Which segment accounts for the largest market share?
- What are the upcoming key trends in the industry?
Polaris Market Research has segmented the plant-based meat market report based on source, product, distribution channel, and region:
By Source Outlook
By Product Outlook
- Burger Patties
- Strips & Nuggets
By Distribution Channel Outlook
- Retail Outlets
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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