Current and Projected Plant Based Meat Market size in terms of volume and value 2017-2025
A food made from non-meats or sometimes without any other animal products such as dairy products which act as a meat substitute or meat alternative but has same amount of protein content is called plant based meat product. Many plant based meat products are soy based or gluten based products. Plant based meat products are currently processed through two basic methodology i.e either by thermoplastic extrusion or fiber spinning. Thermoplastic extrusion is most commonly used methodology to produce plant based meat products. It is considered to be cost effective method of accommodating large scale productions. On the other side, fiber spinning increases the cost of production which eliminates the advantage of creating an inexpensive plant based meat products.
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Plant Based Meat Market: Regional Outlook:
Regional segment for the plant based meat market is divided into five different regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific region has been anticipated to have higher share in terms of volume and value sales due to the increasing popularity of plant based meat products among the consumers. Moreover, Tofu and Tempeh have been considered to be the staple food in the Asian regions especially in China, Japan and Korea. MEA and North America regions are considered to be the emerging market for plant based meat products due to consumer’s shift in diet from meat consumption to vegan or vegetarian products.
Plant Based Meat Market: Demand Drivers:
Consumers in the modern age are now being health conscious and are being more considerate on food intake. There is an increasing health awareness among the consumers about meat adulteration when it comes to meat consumption. As a result consumers are now gradually shifting their diet to vegetarian or organic products. And there are many health benefits associated with vegan products. These factors can help drive the demand for plant based meat products among its consumers.
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Plant Based Meat Market: Key Players:
Some of the key players for Plant Based Meat Market are as follows: Impossible Foods Inc., Beyond Meat, Parabel USA Inc, Archer Daniels Midland Company, E. I. du Pont de Nemours and Company, Garden Protein International, Inc., Amy’s Kitchen Inc., Morningstar Farms LLC and Quorn Foods, Inc.
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