Plant-based Meat Market Projected to Surpass $24.01 Billion by 2030

Meticulous Research® Unveils Strategic Insights on Plant-based Meat Market

Meticulous Research®, a globally recognized market research leader, has released an incisive report titled, 'Plant-based Meat Market.' This comprehensive study delves into diverse facets of the market, offering invaluable perspectives on types, sources, distribution channels, and regional dynamics.

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Market Projection and Growth Dynamics

The report foresees the global plant-based meat market surging to an impressive $24.01 billion by 2030, registering a commendable CAGR of 13.9% from 2023 to 2030. This growth is underpinned by a myriad of factors, including the escalating consumer preference for plant-based food products, the burgeoning vegan population, heightened awareness of animal welfare, and an increasing demand for alternative proteins. Moreover, ongoing innovations in food technology and strategic product launches by manufacturers in the plant-based food and alternative protein space are poised to unlock significant market growth opportunities. However, challenges such as consumer preference for soy and gluten-free products, coupled with a lingering preference for animal-based products, might pose hurdles to the market's expansion.

Key Players Steering Market Dynamics
The global plant-based meat market hosts a moderately competitive landscape, with a mix of large and small-scale players operating globally, regionally, and locally. Some of the key players shaping the market include Beyond Meat Inc., Impossible Foods Inc, The Hain Celestial Group, Inc., Unilever Plc, Kellogg Company, Lightlife Foods, Inc. (Part of Maple Leaf Foods Inc.), Nestlé S.A., Conagra Brands, Inc., Taifun-Tofu GmbH, Atlantic Natural Foods LLC, VBites Food Ltd, Sunfed Meats, Quorn Foods, Ojah B.V., and The Kraft Heinz Company.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/plant-based-meat-market-5581

Market Segmentation and Regional Analysis
The study meticulously dissects historical market data for 2021 and 2022, offers insightful estimations for 2023, and provides projections until 2030. Segmented by type, source, distribution channel, and geography, the report assesses industry competitors and scrutinizes the market at regional and country levels.
• Type Segmentation: Tofu, TVP, Tempeh, Seitan, Meatballs, Burger Patties, Nuggets, Crumbles, and Others
• Source Segmentation: Soy, Wheat, Pea, and Other Sources
• Distribution Channel: B2B, B2C (Convenience Store, Online Retail, Specialty Store), and Others

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Segment Highlights

Among various types, the tofu segment is anticipated to dominate the market in 2023, owing to its cost-effectiveness, widespread availability, and high protein content. Meanwhile, the pea segment is poised to exhibit the highest CAGR during the forecast period, fueled by its allergen-free, gluten-free, and lactose-free nature, coupled with growing investments to boost pea protein production.

In terms of distribution channels, the B2C segment, especially in modern groceries, convenience stores, specialty stores, and online retail, is expected to command a substantial market share in 2023.

Regional Dynamics
The North American region is projected to hold the largest market share in 2023, driven by heightened awareness of protein-rich diets, growing consumer consciousness regarding risks associated with contaminated meat, and increased investments in the plant-based meat sector.
For a comprehensive exploration of trends, challenges, and growth opportunities in the plant-based meat market, access the complete report by Meticulous Research®.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5581

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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

This release was published on openPR.