Press release
Meticulous Research® Forecasts Robust Growth in the Vegan Meat Market, Projected to Reach $25.51 Billion by 2031
Meticulous Research®, a leading global market research firm, has recently published a comprehensive report titled, "Vegan Meat Market Size, Share, Forecast, & Trends Analysis by Product (Burger Patties, Meatballs, Sausages), Source (Soy), Meat Type (Chicken, Beef, Fish), Storage Category (Frozen), Distribution Channel (B2B, B2C {Modern Groceries}) - Global Forecast to 2031." The report offers in-depth insights and analyses into the rapidly expanding vegan meat industry.Download Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5945
According to the latest projections by Meticulous Research®, the global vegan meat market is anticipated to soar to $25.51 billion by 2031, exhibiting a Compound Annual Growth Rate (CAGR) of 13.8% during the forecast period from 2024 to 2031. This impressive growth is driven by a confluence of factors, including the escalating vegan population, increasing consumer preference for plant-based diets, and heightened concerns over animal welfare. Despite these positive trends, the market faces challenges such as the premium pricing of vegan products and a substantial consumer base that still prefers traditional animal-based foods.
However, opportunities abound as the adoption of vegan food in emerging economies continues to rise, coupled with ongoing product innovations. Moreover, the growing demand for sustainable food options and an intensified focus on health and wellness are emerging as pivotal trends shaping the future of the vegan meat market.
Key Market Players
The vegan meat market is highly competitive, with key players including Beyond Meat Inc. (U.S.). Impossible Foods Inc. (U.S.), The Hain Celestial Group, Inc. (U.S.), Unilever Plc (U.K.), Maple Leaf Foods Inc. (U.S.), Nestlé S.A. (Switzerland), Conagra Brands, Inc. (U.S.), Kellanova (U.S.), Marlow Foods Limited (U.K.), VBites Food Ltd (U.K.), The Tofurky Company (U.S.), The Kraft Heinz Company (U.S.), No Evil Foods, Inc. (U.S.).
Browse in Depth: https://www.meticulousresearch.com/product/vegan-meat-market-5945
Market Segmentation and Key Insights
The report meticulously segments the vegan meat market by product type, source, meat type, storage category, distribution channel, and geography, providing granular insights into each segment's performance and growth prospects.
• Product Type: In 2024, the burger patties segment is expected to dominate, accounting for 35.0% of the market share. This can be attributed to the rising popularity of vegan burgers that closely replicate the taste, texture, and aroma of traditional meat, making them a convenient and sustainable meal option.
• Source: The pea protein segment is set to witness the highest CAGR during the forecast period. This growth is fueled by the increasing adoption of pea protein, known for its high nutritional value and allergen-free properties, by vegan meat manufacturers.
• Meat Type: Chicken alternatives are projected to hold the largest market share of 34.3% in 2024. The broad consumer acceptance and diverse product offerings in this category, alongside advancements in plant-based food technology, are driving this segment's dominance.
• Storage Category: Frozen vegan meat products are expected to lead the market, benefiting from their longer shelf life and the growing demand for convenient, ready-to-eat meals.
• Distribution Channel: The B2C segment is anticipated to grow at a higher CAGR, driven by the surge in online sales and increasing consumer awareness in developing regions.
• Geography: Asia-Pacific is poised to capture the largest market share of 43.0% by 2024, propelled by rising disposable incomes, rapid urbanization, and growing government support for the food industry.
Quick Buy @ https://www.meticulousresearch.com/Checkout/84969908
Related Reports:
Vegan Food Market - https://www.meticulousresearch.com/product/vegan-food-market-5788
Plant-based Meat Market - https://www.meticulousresearch.com/product/plant-based-meat-market-5581
Lab-grown Meat Market - https://www.meticulousresearch.com/product/lab-grown-meat-market-5293
Meat Market - https://www.meticulousresearch.com/product/meat-market-5261
Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
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sales@meticulousresearch.com
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https://www.meticulousresearch.com/
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We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition.
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