SAN FRANCISCO, February 1, 2022 /PRNewswire/ — The World vegetable meat market size is projected to reach $24.8 billion by 2030, according to a new report from Grand View Research, Inc.. The market is expected grow at a CAGR of 19.3% from 2022 to 2030. Rising adoption of vegan lifestyle and diet by health conscious consumers in traditionally meat consuming developed economies is expected to drive the market over the forecast period.
Main information and conclusions of the report:
- The plant-based sausage segment is expected to grow at a CAGR of 20.4% during the forecast period. Shifting consumer inclination towards plant-based diets and increasing consumption of sausages in retail channels due to their taste, texture and convenience are expected to drive demand for products worldwide
- The soybean products segment accounted for more than 48.3% of revenue share in 2021, due to its high protein content and high popularity
- The rising trend of vegan diet in European countries has pushed the demand for plant-based meat products in the region. Conversely, the UK is known for being progressive in providing a variety of fresh, high quality food products to its population and is associated with housing the largest vegan populations across the world.
- In June 2020Starbucks, in conjunction with Impossible Foods Inc., has introduced the Impossible Breakfast Sandwich to its menu at most of its locations in the United States. The sandwich is made with plant-based sausage, and was launched as Starbucks’ sustainability initiatives to address growing consumer interest in plant-based options
Read the 140-page market research report, “Plant-Based Meat Market Size, Share, and Trend Analysis Report by Source (Soy, Peas, Wheat), By Product (Burgers, Patties, Sausages), by Type (Chicken, Pork, Beef), By End User, By Storage, Forecast By Region & Segment, 2022 – 2030“, published by Grand View Research.
Growing consumer concern over animal welfare and greenhouse gas emissions created by the distinguished practices of the meat industry is driving the market. Celebrity recommendations for vegan/vegetarian diets are expected to increase demand for meat alternatives in the global market. Moreover, the launch of new products by the manufacturers similar to meat in terms of flavor, texture, color and taste increases the demand for the products.
Plant-based meat is mainly consumed in the Hotel/Restaurant/Café (HORECA) sector. Key industry companies are working with fast food outlets and restaurant chains to drive adoption of their products. For example, fast-food establishments such as Burger King, MacDonald’s and Subway are launching new vegan meat products to capitalize on an industry dominated by health-conscious customers.
Plant-based burgers are expected to show steady growth over the next few years due to growing consumer concerns about conventional meat products in the wake of the coronavirus pandemic. Plant-based burgers are known to be low in gluten and fat, making them popular among health-conscious people.
Market segmentation :
Grand View Research has segmented the global plant-based meat market based on source, product, type, end-user, storage, and region:
- Plant-Based Meat Sources Outlook (Revenue, USD Million, 2017 – 2030)
- Plant-Based Meat Products Outlook (Revenue, USD Million, 2017 – 2030)
- Nuggets, fillets and cutlets
- Plant-Based Meat Type Outlook (Revenue, USD Million, 2017 – 2030)
- Plant-Based Meat End-User Outlook (Revenue, USD Million, 2017 – 2030)
- Plant Based Meat Storage Outlook (Revenue, USD Million, 2017 – 2030)
- Chilled Vegetable Meat
- Frozen Vegetable Meat
- Shelf-stable vegetable meat
- Plant-Based Meat Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- The Netherlands
- Asia Pacific
- Australia & New Zealand
- Central & South America
- Middle East & Africa
List of Plant-based Meat Market Key Players
- Beyond meat
- Impossible Foods Inc.
- Maple Leaf Foods (Country Roast and Maple Leaf)
- Vegetarian Butcher
- Conagra, Inc. (Gardein Protein International)
- Kellogg NA Co. (MorningStar Farms)
- Amy’s Kitchen, Inc.
- Gold&Green Foods Ltd.
- powered by the sun
- VBites Foods Limited
- Kraft Foods, Inc.
- Lightlife Foods, Inc.
- Trader Joe’s
- Yves Veggie Cuisine (Le Hain-Céleste Canada, ULC)
- Marlow Foods Ltd. (Cauldron)
- Ojah B.V.
- move mountains
- Eat JUST Inc.
- LikeMeat GmbH
- Good point
- No bad foods
- DR. Praeger’s Reasonable Foods
Check out more studies related to herbal foods and supplements, published by Grand View Research:
- Herbal Protein Supplements Market – The global herbal protein supplements market size was valued at $5.35 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 8.6% from 2020 to 2028. The growth of the market can be attributed to the growing consumer awareness regarding the nutritional values of herbal products. botanicals such as low sodium and high amino acids.
- Vegetable drinks market – The global plant-based beverages market size was valued at $22,859.4 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 14.3% from 2021 to 2028. Rising health concerns have forced consumers to change their preference for vegan foods and beverages.
Browse Grand View Research coverage on the Global processed and frozen food industry.
About Grand View Research
Grand View Research, a US-based market research and consulting firm, provides syndicated and custom research reports and consulting services. Checked in California and whose head office is at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports offer in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
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