DUBLIN–(BUSINESS WIRE)–The “Plant-based Meat Market By Product Type, By Source, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030” report has been added to ResearchAndMarkets.com’s offering.
The global plant based meat market analysis is envisioned to garner $33,249.7 million by 2031, growing from $5,263.2 million in 2021 at a CAGR of 20.49 % from 2022 to 2031.
Plant based meat products derived from soy, pea, rice, and other products act as a substitute for animal-based meat. Plant based meat market is growing rapidly owing to the growing trend of veganism across the world.
Additionally, the plant based meat leads to environmental sustainability, as these products emit 30%-90% less greenhouse gases compared to the animal-based meat. Also, the plant based meat requires 72%-99% less water compared to the animal-based meat products. Thus, plant based meat industry has tremendous potential that can help in the sustainable food supply. These factors are anticipated to boost the plant based meat market growth during the forecast period.
Some people are allergic to certain plant based meat products such as wheat, soy, and others. Also, the high cost of plant based meat in contrast to traditional meat, is expected to hamper the plant based meat market share during the analysis timeframe.
Plant based meat market has gained tremendous popularity as it is low in calories and has high fiber content. With a plethora of new companies producing products in a variety of forms ranging from patties and sausages to meatballs and chicken bits, the plant based meat industry is growing rapidly.
These vegetarian meals are also extensively available in fresh cold cuts in health food shops, which is predicted to fuel plant based meat market share.
Rising acceptance of ready-to-eat vegetarian food products that taste similar to meat, such as sausages, nuggets, burgers, and others, is also increasing the demand for plant based meat market. The growing popularity of pea and soy-based nutrition for a healthy and sustainable lifestyle is expected to drive the plant based meat market opportunities during the forecast period.
COVID-19 had a positive impact on the global plant based meat market demand. Some of the primary reasons which are propelling market expansion are the increasing vegan population and rising knowledge of the health benefits provided by vegan cuisine.
Despite the lockdown and social distancing norms, the plant based meat market size has seen considerable volume growth and earnings due to increased use of plant-based meat in the food and beverage industry and the pharmaceutical industry. For instance, in February 2021, Beyond Meat announced a collaboration with Yum! Brands to develop plant-based menu options for the restaurant operator’s KFC, Pizza Hut, and Taco Bell.
The plant based meat market analysis for key players profiled in this report include Pinnacle Foods Inc. (Conagra Brands, Inc.), Amy’s Kitchen, Inc., Atlantic Natural Foods, Inc., Lightlife Foods, Inc., Schouten Europe B.V., Sweet Earth, Inc., Impossible Foods Inc., The Kraft Heinz Company, Hain Celestial, Beyond Meat., Pacific Foods of Oregon, LLC, Monde Nissin, Kellogg’s Company, and Fry Family Food.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the plant-based meat market analysis from 2021 to 2031 to identify the prevailing plant-based meat market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the plant-based meat market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global plant-based meat market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
By Distribution Channel
- North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest Of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/prz4hy
Laura Wood, Senior Press Manager
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