The “Global Plant-based Meat Market Size By Source, By Type, By Product, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Plant-based Meat Market, including its growth prospects, market trends, and market challenges.
The Global Plant-based Meat Market is projected to grow at a CAGR of 13.34% from 2022 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 4.62 Billion in 2021 and is expected to reach USD 14.27 Billion by the end of the forecast period.
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Plant-Based Meat Market Witnesses Exponential Growth: Key Players Leading the Charge
The global plant-based meat market has experienced remarkable growth in recent years, driven by rising demand for sustainable and environmentally friendly alternatives to natural meats. Plant-based meat products, crafted from carefully selected plant-based ingredients, closely mimic the taste, texture, and appearance of conventional meats. This emerging trend encourages consumers to adopt healthier diets, emphasizing the consumption of fruits, vegetables, nuts, and seeds. Moreover, a heightened awareness of the health benefits linked to plant-based products has fueled the demand for these meat substitutes.
Nutritional benefits and safety features are key factors contributing to the surging popularity of plant-based meat products. With lower levels of saturated fat, cholesterol, and calories, plant-based meats boast higher quantities of essential micronutrients like zinc, iron, and calcium. Consumers are increasingly drawn to these products due to their perceived safety when compared to conventional meat, which may carry potential health risks such as obesity, type-2 diabetes, heart disease, and certain cancers.
However, despite the market’s rapid expansion, the plant-based meat industry faces some challenges. One of the primary hindrances to widespread adoption is the comparatively higher price of plant-based meat products compared to their animal-based counterparts. Industry-leading companies are proactively working to address this issue, aiming to cater to price-sensitive markets in countries such as India, China, and South Africa.
Key Players Driving the Plant-Based Meat Market:
- Beyond Meat (United States)
- Impossible Foods Inc. (United States)
- Maple Leaf Foods (Canada)
- The Vegetarian Butcher (Netherlands)
- Gardein Protein International (Canada)
- Morningstar Farms (United States)
- Quorn Foods (United States)
- Amy’s Kitchen (United States)
- Tofurky (United States)
- Gold&Green Foods Ltd. (Finland)
These key players have been at the forefront of innovation and have carved a significant market share for themselves. Their diverse range of plant-based meat offerings, combined with strategic marketing efforts, has placed them at the top of the industry’s ranking.
Looking ahead, the plant-based meat market is poised for further growth as consumers continue to prioritize health and sustainability. Despite the challenges posed by the COVID-19 pandemic, efforts to improve cost-effectiveness and enhance distribution channels are underway to bolster market expansion.
In conclusion, the plant-based meat industry is experiencing a revolution driven by increasing health consciousness and environmental awareness. As the market continues to grow, key development strategies, market share, and market ranking analysis will be essential for players seeking to maintain their competitive edge and cater to the evolving demands of consumers worldwide.
To get market data, market insights, financial statements, and a comprehensive analysis of the Global Plant-based Meat Market, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Plant-based Meat Market into Source, Type, Product, And Geography.
- Plant-based Meat Market, by Source
- Soy
- Wheat
- Pea
- Other sources (quinoa, oats, beans, nuts, and seeds)
- Plant-based Meat Market, by Product
- Burger Patties
- Strips & Nuggets
- Sausages
- Meatballs
- Other Products (slices, fillets, cutlets, slides, fingers, and crumbles)
- Plant-based Meat Market, by Type
- Beef
- Chicken
- Pork
- Fish
- Other types (lamb and turkey)
- Plant-based Meat Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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SOURCE: Verified Market Research
