Plant-based Meat Market Revolutionary Trends and Industry Statistics by 2027

The global plant-based meat market is experiencing significant growth, with projections indicating substantial expansion in the coming years. According to a research report titled "Plant-based Meat Market by Source, Product, Type, Distribution Channel, and Region," published by MarketsandMarkets, the market was valued at USD 7.9 billion in 2022 and is anticipated to reach USD 15.7 billion by 2027, exhibiting a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=44922705

Dominance of Soy in the Market

Soy emerges as the dominant source in the plant-based meat market, primarily due to its high protein content and versatility as an alternative to traditional meat sources like pork, beef, and chicken. The rising consumption of soy-based foods in Western countries, driven by vegetarian dietary trends and health consciousness, further fuels its market dominance.

Beef-Like Plant-Based Meat Products Lead the Way

Among different types of plant-based meat, beef holds the largest market share. This is attributed to the popularity of beef in regions such as Europe and North America, where plant-based alternatives mimic the characteristics of traditional beef closely. Products like meat-free beef pieces and no-beef burgers, made from soy and wheat sources, contribute significantly to the dominance of beef-like plant-based meats.

Burgeoning Demand for Plant-Based Burger Patties

Burger patties stand out as the fastest-growing product segment in the plant-based meat market. This growth is fueled by the global popularity of burgers, especially in North America, and the increasing adoption of plant-based diets driven by health consciousness and environmental concerns.

E-commerce Emerges as a Key Distribution Channel

E-commerce emerges as a pivotal distribution channel for plant-based meat products, experiencing the highest projected growth rate during the forecast period. The convenience, competitive pricing, and expanded market reach offered by e-commerce platforms, coupled with increased digitalization post-COVID-19, contribute to its significant growth potential.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=44922705

European Market Leads the Way

Europe holds the largest share in the global plant-based meat market, driven by rising health concerns regarding meat consumption and a growing trend towards veganism. European manufacturers focus on innovation supported by robust research and development facilities, while retailers and supermarkets expand their product offerings to meet the rising demand for plant-based meat products.

Conclusion

The plant-based meat market is propelled by various factors, including the increasing vegan and flexitarian population, growing awareness of health benefits associated with plant-based diets, and substantial investments from government bodies and major food industry players. With soy dominating as a key source and beef-like products leading in demand, coupled with the rise of e-commerce as a distribution channel, the market is poised for significant expansion, especially in regions like Europe.

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/plant-based-meat-market-44922705.html

Browse Other Food & Beverages Industry Reports:

Protein Ingredients Market Size, Share, Industry Growth Analysis, Trends Report by Source (Animal, Plant, Insect, and Microbial), Form (Dry and Liquid), Application (Food & Beverages, Feed, Cosmetics & Personal Care Products, and Pharmaceuticals), and Region - Global Forecast to 2028
https://www.marketsandmarkets.com/Market-Reports/protein-ingredients-market-114688236.html

Potato Starch Market Size, Share, Industry Growth, Trends Report by Type (Native, Modified), End-User (Food & Beverages, Feed, and Industrial), Nature (Conventional, Organic), and Region (North America, Europe, Asia Pacific, Rest of the World) - Global Forecast to 2027
https://www.marketsandmarkets.com/Market-Reports/potato-starch-market-90016986.html

Savory Snack Products Market Size, Share, Industry Growth, Trends Report by Product (Potato Chips, Extruded Snacks, Popcorn, Nuts & Seeds, Puffed Snacks, Tortillas), Flavor (Barbeque, Spice, Salty, Plain/Unflavored), Distribution Channel and Region - Global Forecast to 2027
https://www.marketsandmarkets.com/Market-Reports/savory-snack-products-market-182914305.html

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.