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 which 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 line up 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 it unattractive to some consumers. These acts as the hindrances to the 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 which 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 market, 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 meat balls.
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, 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.
Strips & Nuggets
Middle East and Africa
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