At CAGR of 25.8%, Plant-Based Meat Industry Share, Growth, Opportunity and Forecast 2022-2027

According to the latest research report "Plant-Based Meat Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" The global plant based meat market reached a value of US$ 8.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 34 Billion by 2027, exhibiting at a CAGR of 25.8% during 2022-2027.

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Global Plant-Based Meat Market Outlook:

Plant-based meats are food products prepared from numerous plant sources, such as fruits, vegetables, nuts, seeds, and whole grains. It is a vegetarian alternative that resembles meat in texture, color, flavor, and appearance. It contains saturated fats and calories and is a rich source of vitamins, antioxidants, minerals, and fiber that assist in maintaining a healthy gut microbiome. Additionally, its consumption also helps in minimizing the risks of cardiovascular diseases while lowering blood cholesterol levels, maintaining calories, and aiding in protein deficiency. Due to its easy availability via hypermarkets, convenience stores and online grocery platforms, this is providing a thrust to the market growth.

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Global Plant-Based Meat Industry Growth Analysis:

The growing consumption of plant-based meat is driving the global market. Moreover, the increasing health-consciousness among individuals due to the rising prevalence of chronic disorders and the escalating popularity of vegan diets are impacting the market growth favorably. Furthermore, the rising utilization of plant-based meats in the preparation of burgers, sausages, ham, and meatballs, is positively influencing the market growth. Apart from this, several awareness programs conducted by various animal welfare organizations and the governments of numerous countries for creating awareness towards animal killing are significantly supporting the demand. Other factors, including the advent of home delivery models and rapid expansion in the food and beverage industry, are also driving the market growth.

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Key Market Segmentation:

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the top plant-based meat companies are being Amy's Kitchen, Inc., Beyond Meat, Boca Foods Company (Kraft Foods, Inc.), Garden Protein International (Conagra Brands, Inc.), Impossible Foods, Inc., Maple Leaf Foods, MorningStar Farms (Kellogg Na Co.), Quorn Foods, The Vegetarian Butcher and Vbites Food Limited.

Breakup by Product Type:

• Burger Patties
• Sausages
• Nuggets and Strips
• Ground Meat
• Meatballs
• Others

Breakup by Source:

• Soy
• Wheat
• Peas
• Others

Breakup by Meat Type:

• Chicken
• Beef
• Pork
• Others

Breakup by Distribution Channel:

• Restaurants and Catering Industry
• Supermarkets and Hypermarkets
• Convenience and Specialty Stores
• Online Retail

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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