Plant-Based Meat Market Growth Accelerates with Rising Consumer Demand for Clean Labels Ethical Food Alternatives and Sustainable Protein Sources

Global Plant-Based Meat Market Size is valued at USD 6.7 Billion in 2024 and is predicted to reach USD 11.1 Billion by the year 2034 at a 5.4% CAGR during the forecast period for 2025-2034.

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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global plant-based meat market are:
• Growing Food and Beverage Sector
• Growing the Number of Vegetarians
• Technological Development

The following are the primary obstacles to plant-based meat market's expansion:
• Costly in comparison
• Difficulties with the distribution network
• Restrictive rules and regulation

Future expansion opportunities for the global plant-based meat market include:
• Growing research and development
• Growing population
• Expanding financial resources

Key Industry Insights & Findings from the report:
• The expansion of the worldwide plant-based non-vegetarian market is ascribed to rising health concerns and a desire for wholesome and delicious dietary options.
• The demand for plant-based meat is being driven by consumers' growing curiosity about diets made from plants and their growing consciousness of animal welfare thanks to various welfare groups.
• North America dominated the market and accounted for a revenue share of global revenue in 2023.
• One of the main things holding back the demand for plant-based meat is expense.

Market Analysis:
Plant-based meat comprises alternative protein products formulated from plant-derived ingredients, engineered to emulate the flavor, texture, and nutritional characteristics of conventional animal meat. The market for these products is witnessing substantial growth, driven by a rising consumer preference for vegetarian and flexitarian diets, alongside increased awareness of environmental sustainability.

Moreover, growing health concerns associated with the consumption of high-fat animal proteins-particularly their links to obesity, diabetes, cardiovascular diseases, and other related conditions-are expected to further propel the adoption of plant-based meat alternatives.

List of Prominent Players in the Plant-based Meat Market:
• Amy's Kitchen, Inc
• Beyond Meat
• Bites Foods Limit
• Conagra, Inc. (Garden Protein International)
• Praeger's Sensible Foods
• Eat JUST Inc.
• Garden Protein International
• Gold Green Foods Ltd
• Greenwise
• Impossible Foods Inc
• Kellogg NA Co.
• Kraft Foods, Inc
• Light life Foods, Inc
• Like Meat GmbH
• Maple Leaf Foods (Field Roast & Maple Lea
• Marlow Foods Ltd. (Cauldron)
• Morningstar Farms
• Moving Mountains
• No Evil Foods
• Novameat
• Okah B
• Omni Foods
• Omnipork
• Quorn Foods
• Sunfed
• SunFest
• The Vegetarian Butcher
• Tofurky
• Trader Joe's
• V2food
• VBites
• Vegetarian Butcher
• Yves Veggie Cuisine (The Hain-Celestial Canada, ULC)
• Zikooin

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Recent Developments:
• In Novemnber 2024, The Kraft Heinz Company, the industry pioneer in food dressings for almost a century in Canada, introduced Natural J.L. KRAFT, a new range of high-quality, long-lasting vinaigrette and marinades. The new range is the initial of its type to join Canada's reusable condiments market. It is proudly manufactured in Canada and has no synthetic preservatives, flavors, or colors.
• In December 2024, Conagra Brands, Inc. declared that it is utilizing a human-centered strategy that emphasizes the appropriate use of AI throughout the organization in order to advance its AI solutions. With workers at the core of its AI approach, Conagra hopes to increase productivity by using cutting-edge technologies to expand, enhance, and reinvent its capabilities. This strategy equips staff members with tools that facilitate growth, expedite decision-making, and effectively synthesize massive data sets.
• In January 2025, Beyond Meat, Inc. (NASDAQ: BYND), a pioneer in plant-based meat, revealed that its Beyond Steakhouse range, one of the best-selling and largest plant-based meat substitutes available, would now be available at Sprouts market locations nationwide. Major wellness groups' dietary guidelines are met by the new range of pre-seasoned steak tips, which come in two delicious ingredients.

Plant-Based Meat Market Dynamics
Market Drivers: Growth of the Food and Beverage Sector
The increasing demand for plant-based meat is closely associated with the sustained expansion of the global food and beverage industry, encompassing restaurants, catering services, and foodservice operators engaged in the production, distribution, and delivery of consumable products.

Within this dynamic environment, plant-based meat alternatives are progressively being incorporated as substitutes for conventional animal proteins. As the food and beverage sector continues to evolve, the demand for innovative and sustainable protein solutions is anticipated to grow correspondingly.

Market Challenges: Supply Chain and Distribution Constraints
The plant-based meat sector faces notable challenges related to supply chain efficiency and distribution logistics, which can significantly affect the availability and cost of key raw materials. Disruptions arising from climate events, geopolitical instability, or other external factors may lead to supply shortages and elevated production expenses.

Consequently, producers may be compelled to revise pricing strategies, potentially impacting the cost competitiveness of plant-based meat compared to traditional animal-based products. These operational limitations pose a potential barrier to widespread consumer adoption and may constrain the overall growth of the market.

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North America Is Expected to Grow with The Highest CAGR During the Forecast Period
The North American plant-based meat market is projected to capture a significant share of global revenue and exhibit strong growth throughout the forecast period. This expansion is primarily driven by increasing consumer preference for vegetarian and plant-based alternatives to traditional meat products. Rising awareness of associated health benefits, environmental sustainability, and supportive regulatory developments is fostering a notable shift in consumer behavior toward plant-based options. Market growth is further reinforced by extensive product availability, a diverse and innovative product portfolio, and strategic marketing initiatives executed by key industry stakeholders.

Segmentation of Plant-based Meat Market-
By Source-
• Soy
• Wheat
• Blends
• Pea
• Others
By Type-
• Beef
• Chicken
• Pork
• Fish
By Product-
• Burger patties
• Strip & nuggets
• Sausages
• Meatballs
By Distribution Channels-
• Food retail
• Food services
• E-commerce
By Storage-
• Frozen
• Refrigerated
• Shelf-stable
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.