Latest Plant-Based Meat Market Report | Plant-Based Takes Over, Market Size to Reach US$ 18.3 Billion by 2030

The global plant-based meat market is expected to surpass US$ 18.3 billion by 2030, with an annual growth rate of more than 14.7%

Global Plant-Based Meat Market is estimated to value at US$ 7.8 billion in 2023 and is expected to grow at a significant CAGR of over 14.7% over the forecast period of 2023-2030, according to the published market report by RationalStat

Market Definition, Market Scope, and Report Overview

Increasing consumer awareness of the health benefits associated with plant-based diets, growing concerns about lifestyle-related diseases, and the desire for healthier food options have led to an enhanced demand for plant-based meat products, thereby driving demand within the plant-based meat market. In addition, rising awareness of the environmental impact of traditional meat production, including deforestation, water usage, and greenhouse gas emissions, has led to an increased preference for plant-based meat products, particularly by environment-conscious consumers, seeking more sustainable and eco-friendly food choices.

Furthermore, ongoing advancements in food technology and product innovation lead to the creation of more realistic and flavorful plant-based meat alternatives. Moreover, it has been observed that companies are heavily investing in research and development to enhance the taste, texture, and nutritional profile of plant-based products, and the launching of new products by established companies in the processed food industry, and the coming of new startups, further substantiates the expansion of plant-based meat market.

• According to a deep-dive market assessment by RationalStat, the global plant-based meat market has been analyzed on the basis of market segments, including source, product, distribution channel, storage, end user and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the global plant-based meat market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

• In addition, the long-term sector and products/services 10-year outlook and its implications on the global plant-based meat market. It also includes the industry's current state - Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Plant-Based Meat Market: Segmental and Market Share Analysis
• On the basis of source, soy is anticipated to take up a significant share in the plant-based meat market, primarily due to soy's gelation properties, and its meat-like texture.
Report Synopsis
Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 7.8 billion
Market Size Forecast US$ 18.3 billion
Growth Rate 14.7%

Key Market Drivers
• Increasing consumer focus on meat alternatives
• Increasing vegetarian population
• Rising veganism
• Rising investments in meat alternatives

Companies Profiled
• Beyond Meat
• Kellogg Company
• Impossible Foods Inc.
• Maple Leaf Foods
• Conagra Foods
• Tofurky
• Sunfed
• Monde Nissin
• Planterra Foods
• VBites Foods td.
• Gold & Green Foods Ltd.

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Competition Analysis and Market Structure

These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global plant-based meat market include,

• In September 2023, Kellogg launched a new plant-based burger. Kellogg claims the burger to have 42% less fat, than a cooked ground beef patty and has 21 g protein per serving.

• In October 2022, Beyond Meat introduced Beyond Steak. The new product expands the company's plant-based beef product offerings.
Some of the prominent players and suppliers operating and contributing significantly to the global plant-based meat market growth include Beyond Meat, Kellogg Company, Impossible Foods Inc., Maple Leaf Foods, Conagra Foods, Tofurky, Sunfed, Monde Nissin, Planterra Foods, VBites Foods td., and
Gold & Green Foods Ltd., among others.

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RationalStat has segmented the global plant-based meat market based on source, product, distribution channel, storage, end user and region
• Global Plant-Based Meat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Source
o Soy
o Wheat
o Blends
o Pea
o Others (Quinoa, Oats, Beans, Nuts and Seeds)
• Global Plant-Based Meat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Product
o Burger Patties
o Strips & Nuggets
o Sausages
o Meatballs
o Other products (Slices, Fillets, Cutlets, Fingers, Crumbles)
• Global Plant-Based Meat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Distribution Channel
o Online
o Offline
• Global Plant-Based Meat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End User
o Household
o Food Industry
o HoReCa
• Global Plant-Based Meat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Storage
o Refrigerated
o Frozen
o Shelf-Stable
• Global Plant-Based Meat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
o North America Plant-Based Meat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 US
 Canada
o Latin America Plant-Based Meat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 Brazil
 Mexico
 Rest of Latin America
o Western Europe Plant-Based Meat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe Plant-Based Meat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 Russia
 Poland
 Hungary
 Other CIS Countries
 Rest of Eastern Europe
o Asia Pacific Plant-Based Meat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 China
 Japan
 India
 South Korea
 Australia
 ASEAN
• Indonesia
• Thailand
• Philippines
• Vietnam
• Malaysia
• Rest of ASEAN
 Rest of Asia Pacific
o Middle East & Africa Plant-Based Meat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
 GCC
• Saudi Arabia (KSA)
• United Arab Emirates (UAE)
• Rest of the GCC
 South Africa
 Nigeria
 Turkey
 Rest of the Middle East & Africa

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Key Questions Answered in the Plant-Based Meat Report:
• What will be the market value of the global plant-based meat market by 2030?
• What is the market size of the global plant-based meat market?
• What are the market drivers of the global plant-based meat market?
• What are the key trends in the global plant-based meat market?
• Which is the leading region in the global plant-based meat market?
• What are the major companies operating in the global plant-based meat market?
• What are the market shares by key segments in the global plant-based meat market?

Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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RationalStat LLC
Kimberly Shaw,
Content and Press Manager
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client's needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

This release was published on openPR.