COVID-19 Impact on Plant-based Meat Market - Identify Which Types of Companies Could Potentially Benefit or Loose out From the Impact of COVID-19

The Global Plant-based Meat Market was valued at USD 12.4 billion in 2018 and is expected to reach USD 19.9 billion in 2026, growing at a CAGR of 9.7% by 2027.
The ripple effect of Coronavirus-COVID19 on the Plant-based Meat Market needs to become part of strategy discussions to emerge strong. The Analyst team is meticulously tracking the impact and relevance to all the sectors in the Plant-based Meat Market. Key data sets include Revenue Impact analysis, Disruptions and New opportunities in the Supply Chain, Revised Vendor Landscape Mix, New opportunities mapping, and more.

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The plant-based meat are primarily manufactured from non-meat or non-animal substances such as dairy products that function as a meat substitute or meat alternative but have the same quantity of protein content is called plant-based meat product. The kind of plant-based meat products covers soya and gluten-based products. The market growth of the plant-based meat industry is majorly driven by the massive increase in the vegan and flexitarian population across the globe. Moreover, the increasing population of millennial.

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Market Segmentation:
Following Top Key players are profiled in this Market Study:
Morningstar Farms, Beyond Meat, Quorn Foods, Garden Protein International, Amy’s Kitchen, The Vegetarian Butcher, Maple Leaf Foods, Tofurky, and among others

By Applications: Snack, Beverages, Bakery, Meat Extender, Others,

Based on the application, the meat extender segment is expected to grow at a CAGR of around 7.1% throughout the forecast period.
Based on application, the market has been segmented into a snack, beverages, bakery, meat extender, and others. The meat extender type accounts of the largest share in the market and are expected to grow at a CAGR of around 7.1% during the forecast period. The market is driven by increasing demand for vegan diet among consumers has created an insatiable market demand for meat analogs

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Regional Analysis:
North America
Europe
Asia Pacific
LATAM
Middle East Africa

Asia Pacific to dominate the plant-based meat market throughout the forecast period.
Asia Pacific is the leading market in the plant-based meat and registers for almost 39% share in 2018 and further supposed to enhance its dominate in the market over the forecast period owing to the growing demand for meat substitute food products. Also, the region is accounted for the leading supplier for the plant-based meat products in the global market to the North America and Europe. Moreover, Tofu and Tempeh have been considered to be the staple food in the Asian regions especially in China, Japan, and Korea. The rising demand of meatless food products from consumers across China is expected to fuel the growth of plant-based meat market during upcoming period.

North America expected to hold the highest CAGR during the forecast period owing to the high availability of raw materials, rapid growth in the vegan population, and rise in the consumption of non-meat products. Such factors are primarily creating an enormous market growth opportunity for the region in the coming years

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