Plant-Based Meat Market to Reach US$ 42.7 Billion by 2028 | CAGR of 25.64%

IMARC Group's latest research report, titled "Plant-Based Meat Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028 ," The global plant-based meat market size reached US$ 10.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 42.7 Billion by 2028, exhibiting a growth rate (CAGR) of 25.64% during 2023-2028.

Plant-Based Meat Industry Outlook:

Plant-based meat is a type of food product that is prepared from plant-based ingredients, such as soy, wheat, and other plant proteins that taste and feel similar to traditional meat products. It is widely preferred over conventional meat products due to its several health benefits. Additionally, it has a higher percentage of protein than traditional meat products, as well as contains less cholesterol, fat, and calories. It is also free from hormones, antibiotics, and other additives found in traditional meat products, making them an attractive choice for health-conscious consumers.

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Global Plant-Based Meat Industry Demand:

The global market is majorly driven by the accelerating health consciousness among the masses. Consumers are increasingly becoming aware of the health benefits associated with plant-based diets and are actively seeking out products that provide these benefits. Besides this, the rising popularity of veganism for health and ethical reasons and the increasing number of consumers opting for vegetarian ingredients to avoid animal cruelty is significantly support the demand for plant-based meat.

Moreover, numerous leading manufacturers are offering large discounts and the emergence of the organized retail sector are creating a positive market outlook. Other factors, including rapid urbanization, the advent of home delivery models and the emergence of social media, are positively influencing the market.

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Key Market Segmentation:

Top Manufacturers in Plant-Based Meat Industry:

• 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
• 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

Visit Blog on Leading Plant-Based Meat Brands: https://www.imarcgroup.com/plant-based-meat-companies

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)

TOC for the Plant-Based Meat Market Research Report:

• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Global Plant-Based Meat Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape

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