Plant Based Meat Alternative Market to be Worth US$ 19.8 Billion by 2030

Reports and Insights have published a new report titled, "Plant Based Meat Alternative Market: Opportunity Analysis and Future Assessment 2022-2030" analyzed by Ingredients (Proteins (Soy Protein, Pea Protein, Wheat Gluten, Legume proteins, Rapeseed, sunflower and other seed proteins, Others), Binders and Texturizing Agents (Xanthan Gum, Carrageenan, Methylcellulose), Locust Bean Gum, Calcium Alginate, Others, Fat, Oil and Oil Substitutes, Flavor and Coloring Agents), By Alternative (Beef Alternative, Chicken Alternative, Pork Alternative, Seafood Alternative, Egg Alternative), By End Products (Tofu, Burgers, Sausages, Patties, Nuggets, Tenders & Cutlets, Grounds, Steaks, Chicken Like Blocks, Others), By Technology (Extrusion, Shearing, Spinning, Freeze Alignment), By Storage (Refrigerated, Frozen, Shelf-stable) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.

The plant-based meat alternative market is estimated to reach at a value of US$ 7.4 Bn by the end of 2022 and is expected to reach a value of US$ 19.8 Bn by 2030 with a significant CAGR of 13.2%.

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The latest era of plant-based meat alternatives is significantly more and greater than just a simple veggie burger. The vegan alternatives of meat and plant-based meat replacements, which was once a niche market has now become mainstream and flourishing exponentially to the theme of a multibillion-dollar global market.

One of the primary factors that is majorly boosting the demand of plant-based meat alternatives is soaring awareness about the harmful impact ranched meat and meat products leaves on the environment along with the increased animal welfare among people which is inclining them more and more towards vegan diets. Owing to which, the plant-based meat alternative market is projected to rise significantly in the following years.

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In addition to that, the recent evidence from large prospective US and European cohort studies suggests that the long-term consumption of increased amounts of red meat and specifically of processed meat is associated with an increased risk of various cardiovascular diseases, colorectal cancer, type 2 diabetes and total mortality, in both men and women. Such factors are further encouraging people to shift towards vegetarian or vegan diets which are much healthier as it includes no antibiotics, no cholesterol, and less saturated fats, resultantly propelling the demand of plant-based meat alternatives across the markets. Thus, the plant-based meat alternatives market is estimated to witness major breakthroughs over the forecast period.

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Moreover, the plant-based meat contains much healthier ingredients as it offers the same texture, flavor and taste as farmed meat products. For instance, soy as an ingredient comprises all the standard (nine) amino acids, which are crucial for the development of the human body. Its potential to improve the solubility, water absorption, viscosity, emulsification, anti-oxidation, and texture of the ultimate product is further anticipated to accelerate the demand for soy in plant-based meat products over the forthcoming future. Thus, the plant-based meat alternative market is projected to grow substantially over the coming years.

Market Players :

Reports and Insights Study identifies some of the key participating players in the plant-based meat alternative market globally are Impossible Foods, Kraft Heinz, Conagra Brands, Inc., Beyond Meat, Eat Just, Inc., Maple Leaf Foods, The Vegetarian Butcher, Gardein Protein International, Morningstar Farms, Quorn Foods, Amy's Kitchen, Tofurky, Gold&Green Foods Ltd., Sunfed, VBites Food Limited, Alpha Foods, Planterra Foods, Before the Butcher, No Evil Foods, Like Meat, The Meatless Farm Co., Hooray Foods, Yves Veggie Cuisine, among others.

Plant Based Meat Alternative Market Segmentation

The plant-based meat alternative market is segmented on the basis of ingredients, alternatives, end products, technology, storage, and region.

By Ingredients

Proteins

Soy Protein

Pea Protein

Wheat Gluten

Legume proteins

Rapeseed, sunflower and other seed proteins

Others

Binders and Texturizing Agents

Xanthan Gum

Carrageenan

Methylcellulose

Locust Bean Gum

Calcium Alginate

Others

Fat, Oil and Oil Substitutes

Flavour and Colouring Agents

By Alternative

Beef Alternative

Chicken Alternative

Pork Alternative

Seafood Alternative

Egg Alternative

By End Products

Tofu

Burgers

Sausages

Patties

Nuggets, Tenders & Cutlets

Grounds

Steaks

Chicken Like Blocks

Others

By Technology

Extrusion

Shearing

Spinning

Freeze Alignment

By Storage

Refrigerated

Frozen

Shelf-stable

By Region

North America

Latin America

Europe

Asia Pacific

Middle East

Africa

Plant Based Meat Alternative Market Key Players

Some of the key participating players in plant-based meat alternative market are:

Impossible Foods

Kraft Heinz

Conagra Brands, Inc.

Beyond Meat

Eat Just, Inc.

Maple Leaf Foods

The Vegetarian Butcher

Gardein Protein International

Morningstar Farms

Quorn Foods

Amy's Kitchen

Tofurky

Gold&Green Foods Ltd.

Sunfed

VBites Food Limited

Alpha Foods

Planterra Foods

Before the Butcher

No Evil Foods

Like Meat

The Meatless Farm Co.

Hooray Foods

Yves Veggie Cuisine

Latest News & Developments in Plant Based Meat Alternative Industry: https://reportsandinsights.com/pressrelease/plant-based-meat-alternative-market

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth include (but are not restricted to) :

New product developments and launches
Global Food Industry Outlook
Global Demand for Plant Based Food
Plant Based Meat Alternative Adoption Rate, by Alternative
Top Companies Historical Growth Rate
Pricing Impact
Impact of Regulations

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This release was published on openPR.