The plant-based meat market is projected to reach US$4,780.609 million in 2024 from US$1,571.438 million in 2018 at a CAGR of 20.37%. Plant-based meat products are meat substitutes that mimic the properties found within natural meats. Compared to meat products, plant-based meats— for the most part — offer consumers a more sustainable and environmentally friendly lineup of meat alternatives. They are made using plants and other non-animal products. These products look, taste, and feel like meat products.
The primary ingredients in plant-based meat substitutes are typically soybeans (and other legumes), wheat gluten, lentils, and tofu, yuba, tempeh, and a variety of nuts. An increase in the number of consumers demanding plant-based meat, either for medical reasons or as a healthy lifestyle has led to the growth in the plant-based meat market. It can also be associated with the environmental hazard which comes with the killing of animals.
However, plant-based meat products are highly processed foods with a lot of additives as compared to traditional meat products. Also, many products end up being grey in color which makes them unattractive to some consumers. These act as hindrances to market growth. Continuous efforts in the research & development by plant-based meat manufacturers in terms of better aroma, texture, longer shelf life, and better nutritious profiles are projected to escalate the growth globally by removing the hindrances.
The Plant-Based Meat Market – Forecasts from 2019 to 2024 is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key markets, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by type, source, product, and geography.
The plant-based meat market has been segmented based on type, source, product, and geography. By type, the market has been classified into pork, beef, chicken, and fish. Based on the source the market has been segmented into soy, wheat, pea, quinoa, oats, beans, and nuts. By product, the market has been classified into burger patties, sausages, strips & nuggets, and meatballs.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the plant-based meat market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the plant-based meat market.
|Market size value in 2018||US$1,571.438 million|
|Market size value in 2024||US$4,780.609 million|
|Growth Rate||CAGR of 20.37% from 2018 to 2024|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Source, Product, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Beyond Meat, Impossible Foods, Quorn Foods, Vegeterian Butcher, Sunfed, Maple Leaf Foods, Vbites, Tofurky, Gold & Green Foods, Garden Protein International|
|Customization scope||Free report customization with purchase|
Strips & Nuggets
Middle East and Africa
Frequently Asked Questions (FAQs)
Q1. What will be the plant-based meat market size by 2024?
A1. Plant-Based Meat market size is expected to be valued at US$4,780.609 million in 2024.
Q2. What is the size of plant-based meat market?
A2. The plant based meat market was valued at US$1,571.438 million in 2018.
Q3. What are the growth prospects for plant-based meat market?
A3. The plant based meat market is expected to grow at CAGR of 20.37% over the forecast period.
Q4. What is the base year considered in the plant-based meat market report?
A4. 2018 has been taken as the base year in the plant-based meat market report.
Q5. What factors are anticipated to drive the plant-based meat market growth?
A5. An increase in the number of consumers demanding plant-based meat, either for medical reasons or as a healthy lifestyle has led to the growth in the plant-based meat market. It can also be associated with the environmental hazard which comes with the killing of animals.
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. PLANT-BASED MEAT MARKET BY TYPE
6. PLANT-BASED MEAT MARKET BY SOURCE
7. PLANT-BASED MEAT MARKET BY PRODUCT
7.1. Burger Patties
7.3. Stripa & Nuggets
7.4. Meat Balls
8. PLANT-BASED MEAT MARKET BY GEOGRAPHY
8.1. North America
8.2. South America
8.3.3. United Kingdom
8.4. Middle East And Africa
8.4.2. Saudi Arabia
8.5. Asia Pacific
8.5.3. South Korea
9. COMPETITIVE INTELLIGENCE
9.1. Competitive Benchmarking and Analysis
9.2. Strategies of Key Players
9.3. Recent Investments and Deals
10. COMPANY PROFILES
10.1. Beyond Meat
10.2. Impossible Foods
10.3. Quorn Foods
10.4. Vegeterian Butcher
10.6. Maple Leaf Foods
10.9. Gold & Green Foods
10.10. Garden Protein International
LIST OF FIGURES
LIST OF TABLES
Maple Leaf Foods
Gold & Green Foods
Garden Protein International
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