Plant-Based-Meat Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Plant-Based-Meat Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The plant-based-meat market size has grown rapidly in recent years. It will grow from $8.5 billion in 2023 to $9.94 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to growth plant-based ingredients, changing dietary preferences, health and environmental consciousness, retail expansion and availability, global culinary influences.

The plant-based-meat market size is expected to see rapid growth in the next few years. It will grow to $17.23 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to rising concerns about animal welfare, culinary integration in restaurants, government initiatives and regulations, climate change mitigation efforts, expansion of product portfolio. Major trends in the forecast period include technological advancements in production, technological advancements in plant-based alternatives, expansion of product offerings beyond burgers, collaborations and partnerships with foodservice chains, focus on health and nutrition.

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Market Drivers and Trends:

Increasing consumer awareness associated with the benefits of vegetarian diets is projected to contribute to the growth of the plant-based meat market. The vegetarian diet offers various benefits, such as low insulin levels, a decreased rate of heart disease, and improved kidney functions. According to the International Food Information Council survey in August 2021, a US-based non-profit organization for a non-profit organization for food, beverages, and agriculture, Over the past year, the majority of Americans have eaten plant-based meat substitutes, with 2 in 5 doing so on a daily or weekly basis, which Top motives for choosing plant-based substitutes are their healthfulness and availability as a source of high-quality protein. Moreover, rising consumer awareness of animal rights through global welfare organizations such as animal aid unlimited (AAU) and people for the ethical treatment of animals (PETA) is to boost the demand for plant-based meat products, which in turn, is predicted to uptake the revenues of plant-based meat market over the forecast period.

The increasing launch of new brands and products, such as those that are made from plant-based meat, is a major trend in the plant-based meat market. Plant-based meat products are food items that are designed to replicate the taste, texture, and appearance of traditional animal-derived meat products but are made entirely from plant-based ingredients. For instance, in July 2022, Tata Consumer Products, an India-based fast-moving consumer goods company, launched a new brand, Tata Simply Better, which offers a range of plant-based meat products in India. The company is expanding its product line into a new category, targeting consumers who are looking to incorporate more plant-based options into their diets.

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Major Key Players of the Market:

Abbots Laboratories Inc., Kraft Heinz Company Inc., Maple Leaf Foods Inc., Morningstar Farms Inc., Amy's Kitchen Inc., Beyond Meat Inc., Impossible Foods Inc., Quorn Foods Inc., Greenleaf Foods LLC, Don Lee Farms Inc., The Vegetarian Butcher LLC., Sweet Earth Inc., LightLife Foods Inc., Atlantic Natural Foods Inc., Gardein Inc., Ojah BV, Tofurky Inc., The Very Good Food Company Inc., Next Level Burger LLC., Gold&Green Foods Ltd., Gold&Green Foods Ltd Oy, Hungry Planet Inc., Monks Meats Inc., No Evil Foods Inc., Ocean Hugger Foods Inc., Sophie's Kitchen Inc., Yves Veggie Cuisine Inc., VBites Inc., Dr. Praeger's Inc., Good Catch Foods Inc.

Plant-Based-Meat Market 2024 Key Insights:

• The plant-based-meat market size is expected to see rapid growth in the next few years. It will grow to $17.23 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%.
• Growing Consumer Awareness Of Vegetarian Diets Drives Demand For Plant-Based Meat
• Innovation Flourishes As Companies Introduce Novel Plant-Based Meat Products
• Asia-Pacific was the largest region in the plant-based meat market in 2023

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