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Plant-based Meat Market Size & Share Report, 2022-2030

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The global Plant-based Meat market size is expected to be worth around US$ 21.5 billion by 2030, according to a new report by Vision Research Reports.

The global Plant-based Meat market size was valued at US$ 5.20 billion in 2020 and is anticipated to grow at a CAGR of 21.4% during forecast period 2021 to 2030.

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Report Coverage

Report Scope Details
Market Size US$ 21.5 Billion by 2030
Growth Rate CAGR of 21.4% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Source, Product, Type, End-user, Storage
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Beyond Meat; Impossible Foods Inc.; Maple Leaf Foods (Field Roast & Maple Leaf); Vegetarian Butcher; Conagra, Inc. (Gardein Protein International); Kellogg NA Co. (MorningStar Farms); Quorn; Amy’s Kitchen, Inc.; Tofurky; Gold&Green Foods Ltd.; Sunfed; VBites Foods Limited; Kraft Foods,Inc.; Lightlife Foods, Inc.; Trader Joe’s; Yves Veggie Cuisine (The Hain-Celestial Canada, ULC); Marlow Foods Ltd. (Cauldron); Ojah B.V.; Moving Mountains; Eat JUST Inc.; LikeMeat GmbH; Gooddot; OmniFoods; No Evil Foods; DR. PRAEGER’S SENSIBLE FOODS

Growth Factors

Growing adoption of vegan lifestyle and diet among health-conscious consumers, especially in developed economies are expected to drive the market growth over the forecast period. Growing concerns regarding animal welfare and Greenhouse Gas (GHG) emission created by the distinguished practices of the meat industry, together with celebrity endorsements of vegan/vegetarian diets are projected to augment the demand for plant-based meat products. The plant-based meat is predominantly consumed in the Hotel/Restaurant/Café (HORECA) sector.

Growing consumer interest in plant-based diets, coupled with the rising consciousness for animal rights through various welfare organizations, is expected to boost the market growth. Plant-based meat is becoming an integral part of a vegan diet, wherein the individuals adopt a vegetarian lifestyle that is devoid of animal-based foods.

By Source Analysis

Soy-based meat led the market and accounted for more than 46.3 % share of the global revenue in 2020. Soy is a good source of branch amino acids (BCAAs) and is likely to observe steady growth over the forecast period on account of its ability to enhance exercise performance, help in recovery from a heavy workout, and build and strengthen muscle mass.

Soy-based meat products not only reduce the formulation costs but also exhibit a lower carbon footprint as opposed to conventional animal- and dairy-based food products. Growing demand for the product on account of its enhanced eating qualities, such as improved microwave-ability and slice-ability, is projected to spur the overall market growth.

By Product Analysis

Plant-based burgers led the market and accounted for over 26.0% share of the global revenue in 2020. Ingredients in these burgers strive to imitate the aroma, flavor, and “bleeding” texture of meat. Impossible Foods’ product- Impossible Burger- is made with a genetically modified form, mimicking the natural heme-iron present in an animal, which gives the burger a distinctive meaty flavor.

Plant-based sausages are manufactured with the aim to mimic the look, texture, sizzle, and satisfaction of conventional pork sausage. Companies such as Beyond Meat and Lightlife Foods, Inc. are offering juicy and meaty alternatives of a traditional sausage, which are also devoid of hormones, nitrates, GMOs, nitrites, gluten, and soy.

By Type Analysis

The plant-based chicken segment led the market and accounted for over 30.0% share of the global revenue in 2020. In the traditional meat industry, chicken is the prime ingredient in various products, such as nuggets, patties, and cutlets, as it is loaded with animal fats, cholesterol, and protein.

Veggie bacon, also known as vegetarian bacon or vacon, is marketed as a plant-based pork product. These products, manufactured from soy and pea protein, are high in fiber and protein, have no cholesterol, and are low in fat.

Various start-ups, ventures, and established players in the industry are launching new products in order to increase their sales and capitalize on rising consumer preferences for plant-based diets.

By End-user Analysis

The hotel/restaurant/café(HORECA) segment led the market and accounted for more than 55.0% share of the global revenue in 2020. Owing to the rising popularity of vegan and flexitarian diets, many restaurants, fast food chains, and casual dining venues are dedicating a section of their menu solely to “meat-free” options, which, in turn, is projected to fuel the market growth.

Products such as burger patty, nuggets, and strips are gaining traction in the fast-food restaurant chains. These brands have launched distinguished plant-based meat products in order to target health-conscious individuals.

By Storage Analysis

Frozen plant-based meat products led the market and accounted for over 56.0% share of the global revenue in 2020. The growing demand for innovative vegetarian products has led to a significant rise in new product development across ambient, chilled, and frozen segments.

The refrigerated plant-based meat products segment is likely to exhibit the fastest CAGR of 22.3% in terms of revenue from 2020 to 2030. Various factors contributing to this trend are meat shortages and concerns over the COVID-19 outbreak in the meat processing facilities.

By Regional Analysis

North America held the largest revenue share of over 36.0% in 2020. The growth of the market in this region is attributed to rising consumer awareness regarding the risks associated with consuming contaminated meat products, along with the increasing consumption of meatless meat products.

The market in Europe is anticipated to register the fastest growth rate of 23.3% over the forecast period on account of a positive consumer outlook on vegetarian and vegan-meat products together with the practice of stringent regulations against cruelty towards animals.

Key Players

  • Beyond Meat
  • Impossible Foods Inc.
  • Maple Leaf Foods (Field Roast & Maple Leaf)
  • Vegetarian Butcher
  • Conagra, Inc. (Gardein Protein International)
  • Kellogg NA Co. (MorningStar Farms)
  • Quorn
  • Amy’s Kitchen, Inc.
  • Tofurky
  • Gold&Green Foods Ltd.
  • Sunfed
  • VBites Foods Limited
  • Kraft Foods,Inc.
  • Lightlife Foods, Inc.
  • Trader Joe’s
  • Yves Veggie Cuisine (The Hain-Celestial Canada, ULC)
  • Marlow Foods Ltd. (Cauldron)
  • Ojah B.V.
  • Moving Mountains
  • Eat JUST Inc.
  • LikeMeat GmbH
  • Gooddot
  • OmniFoods
  • No Evil Foods
  • DR. PRAEGER’S SENSIBLE FOODS

Market Segmentation

  • By Source
    • Soy
    • Pea
    • Wheat
    • Others
  • By Product
    • Burgers
    • Sausages
    • Patties
    • Nuggets, Tenders & Cutlets
    • Grounds
    • Others
  • By Type
    • Chicken
    • Pork
    • Beef
    • Fish
    • Others
  • By End-user
    • Retail
    • HORECA (Hotel/Restaurant/Café)
  • By Storage
    • Refrigerated Plant-based Meat
    • Frozen Plant-based Meat
    • Shelf-stable Plant-based Meat
  • Regional
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Netherlands
    • Asia Pacific
      • China
      • Japan
      • Australia & New Zealand
    • Central & South America
      • Brazil
      • Argentina
    • Middle East & Africa
      • UAE

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Plant-based Meat Market, By Source

7.1.  Plant-based Meat Market, by Source, 2021-2030

7.1.1.    Soy

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Pea

7.1.2.1.        Market Revenue and Forecast (2017-2030)

7.1.3.    Wheat

7.1.3.1.        Market Revenue and Forecast (2017-2030)

7.1.4.    Others

7.1.4.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Plant-based Meat Market, By Product

8.1.  Plant-based Meat Market, by Product, 2021-2030

8.1.1.    Burgers

8.1.1.1.        Market Revenue and Forecast (2017-2030)

8.1.2.    Sausages

8.1.2.1.        Market Revenue and Forecast (2017-2030)

8.1.3.    Patties

8.1.3.1.        Market Revenue and Forecast (2017-2030)

8.1.4.    Nuggets, Tenders & Cutlets

8.1.4.1.        Market Revenue and Forecast (2017-2030)

8.1.5.    Grounds

8.1.5.1.        Market Revenue and Forecast (2017-2030)

Chapter 9.  Global Plant-based Meat Market, By Type

9.1.  Plant-based Meat Market, by Type, 2021-2030

9.1.1.    Chicken

9.1.1.1.        Market Revenue and Forecast (2017-2030)

9.1.2.    Pork

9.1.2.1.        Market Revenue and Forecast (2017-2030)

9.1.3.    Beef

9.1.3.1.        Market Revenue and Forecast (2017-2030)

9.1.4.    Fish

9.1.4.1.        Market Revenue and Forecast (2017-2030)

Chapter 10.      Global Plant-based Meat Market, By End-user

10.1.        Plant-based Meat Market, by End-user, 2021-2030

10.1.1.  Retail

10.1.1.1.      Market Revenue and Forecast (2017-2030)

10.1.2.  HORECA (Hotel/Restaurant/Café)

10.1.2.1.      Market Revenue and Forecast (2017-2030)

Chapter 11.      Global Plant-based Meat Market, By Storage

11.1.        Plant-based Meat Market, by Storage, 2021-2030

11.1.1.  Refrigerated Plant-based Meat

11.1.1.1.      Market Revenue and Forecast (2017-2030)

11.1.2.  Frozen Plant-based Meat

11.1.2.1.      Market Revenue and Forecast (2017-2030)

11.1.3.  Shelf-stable Plant-based Meat

11.1.3.1.      Market Revenue and Forecast (2017-2030)

Chapter 12.      Global Plant-based Meat  Market, Regional Estimates and Trend Forecast

12.1.        North America

12.1.1.  Market Revenue and Forecast, by Source (2017-2030)

12.1.2.  Market Revenue and Forecast, by Product (2017-2030)

12.1.3.  Market Revenue and Forecast, by Type (2017-2030)

12.1.4.  Market Revenue and Forecast, by End-user (2017-2030)

12.1.5.  Market Revenue and Forecast, by Storage (2017-2030)

12.1.6.  U.S.

12.1.6.1.      Market Revenue and Forecast, by Source (2017-2030)

12.1.6.2.      Market Revenue and Forecast, by Product (2017-2030)

12.1.6.3.      Market Revenue and Forecast, by Type (2017-2030)

12.1.6.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.1.6.5.      Market Revenue and Forecast, by Storage (2017-2030)

12.1.7.  Rest of North America

12.1.7.1.      Market Revenue and Forecast, by Source (2017-2030)

12.1.7.2.      Market Revenue and Forecast, by Product (2017-2030)

12.1.7.3.      Market Revenue and Forecast, by Type (2017-2030)

12.1.7.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.1.7.5.      Market Revenue and Forecast, by Storage (2017-2030)

12.2.        Europe

12.2.1.  Market Revenue and Forecast, by Source (2017-2030)

12.2.2.  Market Revenue and Forecast, by Product (2017-2030)

12.2.3.  Market Revenue and Forecast, by Type (2017-2030)

12.2.4.  Market Revenue and Forecast, by End-user (2017-2030)

12.2.5.  Market Revenue and Forecast, by Storage (2017-2030)

12.2.6.  UK

12.2.6.1.      Market Revenue and Forecast, by Source (2017-2030)

12.2.6.2.      Market Revenue and Forecast, by Product (2017-2030)

12.2.6.3.      Market Revenue and Forecast, by Type (2017-2030)

12.2.6.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.2.6.5.      Market Revenue and Forecast, by Storage (2017-2030)

12.2.7.  Germany

12.2.7.1.      Market Revenue and Forecast, by Source (2017-2030)

12.2.7.2.      Market Revenue and Forecast, by Product (2017-2030)

12.2.7.3.      Market Revenue and Forecast, by Type (2017-2030)

12.2.7.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.2.7.5.      Market Revenue and Forecast, by Storage (2017-2030)

12.2.8.  France

12.2.8.1.      Market Revenue and Forecast, by Source (2017-2030)

12.2.8.2.      Market Revenue and Forecast, by Product (2017-2030)

12.2.8.3.      Market Revenue and Forecast, by Type (2017-2030)

12.2.8.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.2.8.5.      Market Revenue and Forecast, by Storage (2017-2030)

12.2.9.  Rest of Europe

12.2.9.1.      Market Revenue and Forecast, by Source (2017-2030)

12.2.9.2.      Market Revenue and Forecast, by Product (2017-2030)

12.2.9.3.      Market Revenue and Forecast, by Type (2017-2030)

12.2.9.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.2.9.5.      Market Revenue and Forecast, by Storage (2017-2030)

12.3.        APAC

12.3.1.  Market Revenue and Forecast, by Source (2017-2030)

12.3.2.  Market Revenue and Forecast, by Product (2017-2030)

12.3.3.  Market Revenue and Forecast, by Type (2017-2030)

12.3.4.  Market Revenue and Forecast, by End-user (2017-2030)

12.3.5.  Market Revenue and Forecast, by Storage (2017-2030)

12.3.6.  India

12.3.6.1.      Market Revenue and Forecast, by Source (2017-2030)

12.3.6.2.      Market Revenue and Forecast, by Product (2017-2030)

12.3.6.3.      Market Revenue and Forecast, by Type (2017-2030)

12.3.6.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.3.6.5.      Market Revenue and Forecast, by Storage (2017-2030)

12.3.7.  China

12.3.7.1.      Market Revenue and Forecast, by Source (2017-2030)

12.3.7.2.      Market Revenue and Forecast, by Product (2017-2030)

12.3.7.3.      Market Revenue and Forecast, by Type (2017-2030)

12.3.7.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.3.7.5.      Market Revenue and Forecast, by Storage (2017-2030)

12.3.8.  Japan

12.3.8.1.      Market Revenue and Forecast, by Source (2017-2030)

12.3.8.2.      Market Revenue and Forecast, by Product (2017-2030)

12.3.8.3.      Market Revenue and Forecast, by Type (2017-2030)

12.3.8.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.3.8.5.      Market Revenue and Forecast, by Storage (2017-2030)

12.3.9.  Rest of APAC

12.3.9.1.      Market Revenue and Forecast, by Source (2017-2030)

12.3.9.2.      Market Revenue and Forecast, by Product (2017-2030)

12.3.9.3.      Market Revenue and Forecast, by Type (2017-2030)

12.3.9.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.3.9.5.      Market Revenue and Forecast, by Storage (2017-2030)

12.4.        MEA

12.4.1.  Market Revenue and Forecast, by Source (2017-2030)

12.4.2.  Market Revenue and Forecast, by Product (2017-2030)

12.4.3.  Market Revenue and Forecast, by Type (2017-2030)

12.4.4.  Market Revenue and Forecast, by End-user (2017-2030)

12.4.5.  Market Revenue and Forecast, by Storage (2017-2030)

12.4.6.  GCC

12.4.6.1.      Market Revenue and Forecast, by Source (2017-2030)

12.4.6.2.      Market Revenue and Forecast, by Product (2017-2030)

12.4.6.3.      Market Revenue and Forecast, by Type (2017-2030)

12.4.6.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.4.6.5.      Market Revenue and Forecast, by Storage (2017-2030)

12.4.7.  North Africa

12.4.7.1.      Market Revenue and Forecast, by Source (2017-2030)

12.4.7.2.      Market Revenue and Forecast, by Product (2017-2030)

12.4.7.3.      Market Revenue and Forecast, by Type (2017-2030)

12.4.7.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.4.7.5.      Market Revenue and Forecast, by Storage (2017-2030)

12.4.8.  South Africa

12.4.8.1.      Market Revenue and Forecast, by Source (2017-2030)

12.4.8.2.      Market Revenue and Forecast, by Product (2017-2030)

12.4.8.3.      Market Revenue and Forecast, by Type (2017-2030)

12.4.8.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.4.8.5.      Market Revenue and Forecast, by Storage (2017-2030)

12.4.9.  Rest of MEA

12.4.9.1.      Market Revenue and Forecast, by Source (2017-2030)

12.4.9.2.      Market Revenue and Forecast, by Product (2017-2030)

12.4.9.3.      Market Revenue and Forecast, by Type (2017-2030)

12.4.9.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.4.9.5.      Market Revenue and Forecast, by Storage (2017-2030)

12.5.        Latin America

12.5.1.  Market Revenue and Forecast, by Source (2017-2030)

12.5.2.  Market Revenue and Forecast, by Product (2017-2030)

12.5.3.  Market Revenue and Forecast, by Type (2017-2030)

12.5.4.  Market Revenue and Forecast, by End-user (2017-2030)

12.5.5.  Market Revenue and Forecast, by Storage (2017-2030)

12.5.6.  Brazil

12.5.6.1.      Market Revenue and Forecast, by Source (2017-2030)

12.5.6.2.      Market Revenue and Forecast, by Product (2017-2030)

12.5.6.3.      Market Revenue and Forecast, by Type (2017-2030)

12.5.6.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.5.6.5.      Market Revenue and Forecast, by Storage (2017-2030)

12.5.7.  Rest of LATAM

12.5.7.1.      Market Revenue and Forecast, by Source (2017-2030)

12.5.7.2.      Market Revenue and Forecast, by Product (2017-2030)

12.5.7.3.      Market Revenue and Forecast, by Type (2017-2030)

12.5.7.4.      Market Revenue and Forecast, by End-user (2017-2030)

12.5.7.5.      Market Revenue and Forecast, by Storage (2017-2030)

Chapter 13.  Company Profiles

13.1.              Beyond Meat

13.1.1.  Company Overview

13.1.2.  Product Offerings

13.1.3.  Financial Performance

13.1.4.  Recent Initiatives

13.2.              Impossible Foods Inc.

13.2.1.  Company Overview

13.2.2.  Product Offerings

13.2.3.  Financial Performance

13.2.4.  Recent Initiatives

13.3.              Maple Leaf Foods (Field Roast & Maple Leaf)

13.3.1.  Company Overview

13.3.2.  Product Offerings

13.3.3.  Financial Performance

13.3.4.  Recent Initiatives

13.4.              Vegetarian Butcher

13.4.1.  Company Overview

13.4.2.  Product Offerings

13.4.3.  Financial Performance

13.4.4.  Recent Initiatives

13.5.              Conagra, Inc. (Gardein Protein International)

13.5.1.  Company Overview

13.5.2.  Product Offerings

13.5.3.  Financial Performance

13.5.4.  Recent Initiatives

13.6.              Kellogg NA Co. (MorningStar Farms)

13.6.1.  Company Overview

13.6.2.  Product Offerings

13.6.3.  Financial Performance

13.6.4.  Recent Initiatives

13.7.              Quorn

13.7.1.  Company Overview

13.7.2.  Product Offerings

13.7.3.  Financial Performance

13.7.4.  Recent Initiatives

13.8.              Amy’s Kitchen, Inc.

13.8.1.  Company Overview

13.8.2.  Product Offerings

13.8.3.  Financial Performance

13.8.4.  Recent Initiatives

13.9.              Tofurky

13.9.1.  Company Overview

13.9.2.  Product Offerings

13.9.3.  Financial Performance

13.9.4.  Recent Initiatives

13.10.           Gold&Green Foods Ltd.

13.10.1.               Company Overview

13.10.2.               Product Offerings

13.10.3.               Financial Performance

13.10.4.               Recent Initiatives

Chapter 14.  Research Methodology

14.1.              Primary Research

14.2.              Secondary Research

14.3.              Assumptions

Chapter 15.  Appendix

15.1.              About Us

15.2.              Glossary of Terms

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