IMARC Group’s latest research report, titled “Plant-Based Meat Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on plant-based meat market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global plant-based meat market size reached US$ 10.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 42.7 Billion by 2028, exhibiting a growth rate (CAGR) of 25.64% during 2023-2028.
Plant-Based Meat Market Overview:
Plant-based meat, a culinary revolution, offers a sustainable alternative to traditional animal-based meat products. Crafted from plant sources like soy, peas, or mushrooms, it replicates meat’s taste, texture, and nutritional profile without the environmental and ethical concerns associated with animal agriculture. These innovative products have gained popularity for their reduced greenhouse gas emissions, lower land and water usage, and humane treatment of animals. Moreover, they often contain less saturated fat and cholesterol, making them healthier for consumers. They have infiltrated fast-food chains, grocery stores, and home kitchens, reflecting a shift toward more sustainable and ethical dietary choices.
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Plant-Based Meat Market Trends:
The global market is majorly driven by the increasing awareness of the environmental impact of traditional meat production. In line with this, the rising health consciousness and concerns about saturated fats and cholesterol in meat products encourage the adoption of plant-based meats. Furthermore, the growing desire to avoid contributing to animal cruelty and exploitation motivates consumers to choose plant-based options, positively influencing the market.
Catering to dietary preferences and restrictions, such as vegetarianism, veganism, and religious dietary laws, propels the plant-based meat market. Moreover, the rapid improvements in taste and texture of plant-based meats make them more appealing to consumers, catalyzing their demand. Besides, the high-profile endorsements and investments in plant-based companies draw attention to these products, propelling the market. Concerns about the sustainability of meat production amid a growing global population drive interest in alternative protein sources, bolstering the market. Additionally, the convenience of plant-based meat products, including ready-made meals and fast-food options, accelerates demand.
Key Market Segmentation:
Competitive Landscape with Key Players:
- Amy’s Kitchen, Inc.
- Beyond Meat
- Boca Foods Company (Kraft Foods, Inc.)
- Garden Protein International (Conagra Brands, Inc.)
- Impossible Foods, Inc.
- Maple Leaf Foods
- MorningStar Farms (Kellogg Na Co.)
- Quorn Foods
- The Vegetarian Butcher
- Vbites Food Limited
Breakup by Product Type:
- Burger Patties
- Sausages
- Nuggets and Strips
- Ground Meat
- Meatballs
- Others
Breakup by Source:
- Soy
- Wheat
- Peas
- Others
Breakup by Meat Type:
- Chicken
- Beef
- Pork
- Others
Breakup by Distribution Channel:
- Restaurants and Catering Industry
- Supermarkets and Hypermarkets
- Convenience and Specialty Stores
- Online Retail
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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