Plant Based Meat Products Market is expected to reach US$ 14,527.55 million by 2028 with a CAGR of 15.3%, says The Insight Partners

According to The Insight Partners recent study on the "Plant-Based Meat Products Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type (Patties, Nuggets, Meatballs, Sausages, and Others), Category (Frozen, Refrigerated, and Ambient), and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others),'' includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

The Plant Based Meat Products market is projected to reach US$ 14,527.55 million by 2028 from US$ 5,354.72 million in 2021; it is expected to grow at a CAGR of 15.3% from 2021 to 2028.

Download a sample PDF Copy of Plant Based Meat Products Market study at: https://bit.ly/3FLCEJT

The key players operating in the global plant based meat products market include Beyond Meat; Conagra Brands, Inc.; Impossible Foods Inc.; Quorn Foods, Inc.; Kellogg Company; Hilary's Eat Well; Vbites Foods, Ltd.; Before the Butcher; Field Roast; and Tofurky; among others. These companies are making significant investments in R&D to develop innovative products such as gluten-free, soy-free, allergen-free, organic, and Kosher and Halal-certified products to address the emerging consumer trends in the plant based meat products market.

Plant-based meat products include patties, meatballs, nuggets, sausages, and ground meat, among others. Plant-based meat products are free of unsaturated fat and have low calorific value, which makes them healthier than conventional meat products. Consumers are increasingly shifting to plant based meat products from animal meat products owing to the rising prevalence of obesity, diabetes, and other diseases.

Surging Veganism and Vegetarianism Trends Drive Plant Based Meat Products Market

The vegetarian population, especially the vegan population, has grown significantly in recent years. People are increasingly switching to vegetarian diets, owing to increased health concerns. Many dieticians and health practitioners recommend reducing meat consumption and switching to a vegetarian diet to reduce the risks of chronic health issues, such as obesity, heart diseases, high blood pressure, and digestive disorders. According to Google Trends, veganism was one of the Top 5 searched terms on Google in 2019 in the UK and across the world. Thus, the surging trend of veganism and vegetarianism boosts the plant based meat products market progress.

In 2020, Europe held the largest share of the global plant based meat products market, and North America is estimated to register the fastest CAGR during the forecast period. According to the "Plant-Based Food Association," the retail sales of plant based foods in the US increased by 11% in 2019, compared to that in 2018, hitting the market value of US$ 4.5 billion. The high nutritional value of plant based meat products, such as sausages, meatballs, and nuggets, has triggered their demand in North America in the last few years, especially among young adults. Moreover, the market is centered in this region due to the presence of start-ups such as Impossible Foods Inc. and Beyond Meat which pioneered the production of these products.

Interested in Purchasing Plant Based Meat Products Market Report? Click here https://bit.ly/3zNjeki

Contact Us:
Call: +1-646-491-9876
Email: sales@theinsightpartners.com

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense, Food & beverage, Chemical and Materials, Semiconductors etc.

This release was published on openPR.