Plant-Based Meat Market Revenue 2019 | Key Players Beyond Meat, Impossible Foods Inc., Parabel USA Inc., Archer Daniels Midland Company, Amy’s Kitchen Inc., Quorn Foods, Inc., Garden Protein International, Inc., and Morningstar Farms LLC.

Plant-Based meat is a food made from soy or gluten which provides same nutritional value as meat. Plant-based meat products are gaining popularity nowadays due to many health and environmental reasons. There are two different methods of processing plant-based meat: thermoplastic extrusion and fiber spinning. Plant-Based meat products are extensively adopted in daily diet, owing to presence of essential nutrients similar to meat products.

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Key players operating in the global plant-based meat market include, Beyond Meat, Impossible Foods Inc., Parabel USA Inc., Archer Daniels Midland Company, Amy’s Kitchen Inc., Quorn Foods, Inc., Garden Protein International, Inc., and Morningstar Farms LLC.

Market Dynamics

Increasing health awareness in consumers, meat adulteration, and environmental or ethical concerns are major factors that drive plant-based meat market growth. Consumers are changing their dietary pattern in order to exclude meat protein and include Plant-Based protein. These products help consumer with daily protein supply required for better health. Moreover, plant-based meat helps to reduce the calorie intake by 20%, which helps to reduce weight. The meat substitute reduce risk of heart disease, cancer, lower blood cholesterol, and increasing bone mass. Adulteration and infectious in meat can cause brain disorder, diarrhea, abdominal cramps, muscle pain, and fever. Therefore, increasing prevalence of such diseases associated with meat consumption is projected to boost growth of plant-based meat market over the forecast period.

Abundance of feedstock worldwide is major factor contributing to growth of the plant-based meat market. According to the Food and Agriculture Organization (FAO), estimated production of cereal in 2017-18 was pegged at 2,650.8 million metric tons worldwide.

Market Outlook

Asia Pacific accounted for the highest share in plant-based meat market in 2017 and is projected to maintain its dominance over the forecast period. This is owing to increasing demand for meat substitute food products. Moreover, tempeh and tofu have been considered to be the staple food in the Asian countries especially in China, Japan and Korea.

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North America is projected to be the fastest growing region in the market over the forecast period. Key factors such as bulk availability of raw materials, increasing population, and high consumption of non-meat products are creating immense opportunities for growth of the market. Moreover, North America has high prevalence of obesity in adults as well as in children. Adults have 40% prevalence of obesity while for children and adolescents the prevalence of is around 20%.

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