Global Plant Based Meat Market is estimated to be USD 14.7 billion in 2020 and is predicted to reach USD 28.0 billion by 2025, growing at a CAGR of 13.8% during the forecast period (2020-2025)

The report "Plant Based Meat Market by Raw Material (Soy, Wheat, and Pea), by Product (Burger Patties, Sausages, Strips & Nuggets, and Meatballs), and Distribution Channel (Retail Outlets, Foodservice, E-commerce) - Global Forecast to 2025", market is estimated to be USD 14.7 billion in 2020 and is predicted to reach USD 28.0 billion by 2025, growing at a CAGR of 13.8% during the forecast period.

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Advances in plant-based meat products is attracting a great deal of customer and national press attention, as well as filling inventory in supermarket aisles and food service menus. We've already seen innovative new products and companies appear across categories. However, we may be on the verge of a revolution in food technology that could accelerate this trend exponentially. Innovations such as synthetic fertilizers, herbicides, selective breeding and antibiotics have enabled food production to keep pace with population growth since the 'Green Revolution' of the 1930s to 1960s.

However, those productivity gains are limited. Animal farming is inherently inefficient, especially as regards conversion of feeds. According to the study published by World Resources Institute (WRI), in 2016, even the most efficient meat source, chicken, converts to animal protein only around 11 percent of gross feed energy. It is gradually understood that this inefficiency has produced a mechanism that is ready to shake. In addition, this would produce a significant shift in productivity at a fraction of the expense and with much less detrimental effects.

Browse 53 market data Tables and 35 Figures spread through 161 Pages and in-depth TOC on "Plant Based Meat Market by Raw Material (Soy, Wheat, and Pea), by Product (Burger Patties, Sausages, Strips & Nuggets, and Meatballs), and Distribution Channel (Retail Outlets, Foodservice, E-commerce) - Global Forecast to 2025"

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On the basis of distribution channel, the plant based meat market is categorized into Retail Outlets, Foodservice, E-commerce. In 2019, the e-commerce channel is expected to grow at fastest rate over the study period. Increasing participation of omni-channel and internet penetration would support the development of e-commerce in the plant-based meat industry. E-commerce platforms are expected to see growing competition for plant-based meat products, while customers may stop heading to grocery outlets due to the introduction of lock-downs in the light of the ongoing pandemic. Distributors will switch to e-commerce and electronic shopping platforms for the sale of plant-based meat goods, resulting in higher competition from these sources. However, the operation of cold chains is still a possible problem for these outlets.

“North America to hold the largest regional market share in 2019.”

North America is the largest revenue contributor in the plant based meat market. The North American region, in particular the US, is experiencing adverse COVID outcomes. Retail chains in the US have also extended shelf and storage space to meet growing demand for plant-based meat products. The number of COVID-19 cases in North America is also enhancing rapidly with registered cases of almost 5,04,780 and 18,763 deaths as registered in the first week of June.

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Some of the major players in the global plant-based meat market include Impossible Foods, Beyond Meat, Maple Leaf Foods Inc., The Meatless Farm Co., Garden Protein International, The Vegetarian Butcher, Morningstar Farms, Quorn Foods, Amy’s Kitchen, and Tofurky.

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