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Global Plant-Based Meat Market by Source (Soy-based, Wheat, Quinoa, Oats and Others (Beans, Nuts, and Pea)), By Product (Burger Patties, Sausages, Strips & Nuggets, Meatballs, Fillets, Wings, Crumbles and Others (Chipotle, Bites, Cutlet, etc.)), By Type (Pork, Beef, Chicken, Fish and Others (Lamb & Turkey)), By Distribution Channel (B2C(Grocery Stores, Food & Drinks Specialty Stores, Online Retail, and Hypermarkets/Supermarkets) and B2B), By End-Users(Commercial, Residential, and Institutional) and By Region (North America, Europe, Asia Pacific, South America, Middle East, and Africa)
Global Plant-Based Meat Market Overview:
The global plant-based meat market was valued at USD 5.05 billion, and it is expected to reach USD 12.48 billion with a CAGR of 14.5 % during the forecast period of 2022-2028. Plant meat is artificial meat made from plant protein, amino acids, and fat, and added with plant-based hemoglobin synthesized by yeast. Plant-based artificial meat uses peas, soybeans, and other plants as raw materials, from which vegetable protein and fiber can separated. The protein is woven into a fibrous structure by heating, pressure change, and freezing. Finally, water, lipids, flavors, pigments, trace minerals, and vitamins, and other ingredients make vegetarian meat with fresh meat taste and nutritional value. Plant-based artificial meat not only has the advantages of low cholesterol, lower levels of saturated fat, and a small amount of dietary fiber but expected to produce according to human needs in the future. The Plant-based meat products currently processed through two primary methodologies, such as thermoplastic extrusion and fiber spinning. Thermoplastic extrusion is the most commonly used methodology to produce plant-based meat products and considered to be a cost-effective method of accommodating large scale productions.Global Plant-Based Meat Market Insights
Global Plant-Based Meat Market projected to expand with a significant rate, in value terms, over the forecast period 2020-2027. The increasing demand for vegetarian products and the rising awareness among consumers regarding health-consciousness is likely to boom the global plant-based meat market in the estimated period. Additionally, the growing awareness of environmental hazards, water & land degradation, and animal right would robust the global plant-based meat market over the projected time. The increasing focus on climate change has prompted consumers across the globe to focus on plant-based alternative meats. Although vegetarian burgers and vegan meats products have the sustainable advantage of being made entirely of vegetables, tastes like meat, based on which consumers get convinced. According to the World Bank, there has been tremendous growth in the size of the world’s population in the last half-century. The world population projected to grow by 34% from 6.8 billion today to 9.1 billion in 2050, which means about 3 billion more mouths to feed than they were in 2010. Furthermore, the augmentation in the benefits of e-commerce platforms such as promoting the development of meat consumption from offline counters to online and offline integration, primarily through cross-border e-commerce, anticipated displaying rapid growth of the global plant-based meat market. Additionally, changing the face of urban life, and shifting of meat consumption gradually from home cooking to the catering industry is expected to robust the global plant-based meat market in the projected time.Growth Driver
The surge in demand for Vegetarian Products
The rise in demand for vegetarian products, especially in the Asian and South American Countries, proves to be an influential factor driving the growth of the global plant-based meat market in the coming years. Additionally, the rising consumer inclination toward healthy lifestyles, along with various initiatives taken by government bodies in different countries, has given rise to the development of environment-friendly, healthier, and feasible solutions. With nearly 38% of the population being vegetarian, India ranks top in the list of countries by vegetarianism rates.Growing government initiatives for the consumption of nutrition food
Various governments across developing and developed countries implemented stringent regulation for nutrient and healthy food. For example, Switzerland’s government initiatives to ban live boiling of lobsters and legislation against animal mistreatment is changing consumer perception towards plant-based meat sources.Increasing consumer awareness for the health benefits of plant-based meat
The growing trend for plant-based meat, which serves as an alternative to animal-derived meat products. The health benefits of plant-based meat, such as help providing better immunity, nutritional benefits, and animal safety compared with conventional meat, are important factors that have been contributing to the rising attention of consumers towards plant-based meat.Source Segmental Analysis
Based on Source, the global Plant-Based Meat Market categorized into Soy-based, Wheat, Quinoa, Oats, and Others (Beans, Nuts, and Pea). The Soy-based segment is expected to lead the market in 2019 and projected to generate maximum revenue by 2027. It is owing to its high protein content and meat-like texture, which can be used in plant-based pork, beef, and chicken products. Pea segment will drive by its vital nutrients such as fiber, manganese, thiamine, phosphorus, vitamin K & C, and folate, which are useful in red and white meat products.Product Segmental Analysis
Based on product, the Global Plant-Based Meat Market classified into Burger Patties, Sausages, Strips & Nuggets, Meatballs, Fillets, Wings, Crumbles, and Others (Chipotle, Bites, Cutlet, etc.). Burger Patties segmented estimated to dominate based on the most common form of fast food along with protein content in plant-based meat. The Strips & Nuggets segment expected to be the fastest-growing segment during the forecast period.Type Segmental Analysis
Based on Type, the global Plant-Based Meat Market categorized into Pork, Beef, Chicken, Fish, and Others (Lamb & Turkey)). Chicken segment expected to gain maximum revenue by 2027 owing to the most preferred meat option due to rich in protein and calcium and majorly focusing on vegetarian protein sources intake. The beef segment will trigger by the rise in demand for muscle and fat concentration vegetarian protein sources.Distribution Channel Segmental Analysis
Based on the distribution channel, the Global Plant-Based Meat Market classified into B2C (Grocery Stores, Food & Drinks Specialty Stores, Online Retail, and Hypermarkets/Supermarkets) and B2B. The B2C segment projected to lead on account of an easily accessible platform for the consumers to buy the product at Grocery Stores, Food & Drinks Specialty Stores, and Hypermarkets/Supermarkets. Additionally, the rapid pace of digitalization leads to the growth of online shopping or online retail. B2B segment will influence by the surge in demand for the plant-based product from hotels and restaurants industry.End-Users Segmental Analysis
Based on End-Users, the Global Plant-Based Meat Market segregated into Commercial, Residential, and Institutional. The Commercial segment predicted to dominate due to the rapid urbanization, increase in disposable income among consumers, and changing lifestyles, which led to the massive growth of restaurants and hotels industry.Region Segmental Analysis
Based on geography, the global Plant-Based Meat market segmented into North America, Europe, Asia Pacific, and South America, and Middle East & Africa. Europe estimated to occupy the lion’s market share in 2019 owing to the growing awareness related to potential risks of contaminated meat products along with the rising demand for veggie options and companies focusing on innovative product development is likely to propel industry growth. North America will be the fastest-growing market due to the increasing popularity of plant-based meat products among consumers.Competitor Analysis
Companies such as Impossible Foods Inc., Beyond Meat, Parabel USA Inc, Archer Daniels Midland Company, E. I. du Pont de Nemours and Company, Maple Leaf Foods, the Vegetarian Butcher, Tofurky, Gold&Green Foods, Sunfed, VBites, Garden Protein International, Inc., Amy’s Kitchen Inc., Morningstar Farms LLC and Quorn Foods, Inc. are the key players in the Global Plant-Based Meat Market.Key Stakeholders
- Market research and consulting firms
- Industry associations
- Global Plant-Based Meat Manufacturing Companies
- Research organizations and consulting companies
- Organizations, associations, and alliances related to Plant-Based Meat
- Regulatory bodies
- Suppliers
- Retailers
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Recent Development
- In 2012, the vegan population accounted for around 25.6% of the global population. Among the vegan population, tofu is perceived to be the most similar plant-based meat product, and consequently, other soy food products like tempeh are also gaining popularity due to their texture, chewiness, and sensory attributes in the plant-based meat product segment.
- In August 2020, Beyond Meat launched a new e-commerce site to make its plant-based meat products more accessible. The website will give consumers easy access to the vast portfolio of plant-based meat products and make it more convenient for them to experience Beyond Meat.
- In September 2020, Planterra Foods entered into a three-year partnership with the NFL team Denver Broncos. This partnership will give its brand OZO brand title of plant-Based Food Choice of the Denver Broncos. The strategy will enable the company to advertise its brand and make customers aware of it.
Scope of the Report
| Report Attribute | Details |
|---|---|
| Market Size Value in 2021 | USD 5.05 billion |
| The revenue forecast in 2028 | USD 12.48 billion |
| Growth Rate | CAGR of 14.5 % from 2022 to 2028. |
| Historical data | 2017 – 2020 |
| Forecast period | 2022 – 2028 |
| Region covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Key companies Profiled | The Companies include Impossible Foods Inc., Beyond Meat, Parable USA Inc, Archer Daniels Midland Company, E.I. du Pont de Nemours and Company, Maple Leaf Foods, the Vegetarian Butcher, Tofurky, Gold&Green Foods, Sunfed, VBites, Garden Protein International, Inc., Amy’s Kitchen Inc., Morningstar Farms LLC and Quorn Foods, Inc. are key players. |
Market Modelling
By Product Type- Burger Patties
- Sausages
- Strips & Nuggets
- Meatballs
- Fillets
- Wings
- Crumbles
- Others (Chipotle, Bites, Cutlet, etc.)
- Soy-based
- Wheat
- Quinoa
- Oats
- Others (Beans, Nuts, Peas, etc.)
- Pork
- Beef
- Chicken
- Fish
- Others (Lamb, Turkey, etc.)
- B2C
- Grocery Stores
- Food & Drinks Specialty Stores
- Online Retail
- Hypermarkets/Supermarkets
- B2B
- Commercial
- Residential
- Institutional
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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Report Content
- Research Strategic Development
1.1. Market Modelling
1.2. Product Analysis
1.3. Market Trend and Economic Factors Analysis
1.4. Market Segmental Analysis
1.5. Geographical Mapping
1.6. Country Wise Segregation
- Research Methodology
2.1. Identification of Target Market
2.2. Data Acquisition
2.3. Refining of Data/ Data Transformations
2.4. Data Validation through Primary Techniques
2.5. Exploratory Data Analysis
2.6. Graphical Techniques/Analysis
2.7. Quantitative Techniques/Analysis
2.8. Visual Result/Presentation
- Executive Summary
- Market Insights
4.1. Supply Chain Analysis
4.2. Economic Factor Analysis
4.2.1. Drivers
4.2.2. Trends
4.2.3. Opportunities
4.2.4. Challenges
4.3. Technological Landscape
4.4. Competitors & Product Analysis
4.5. Regulatory Framework
4.6. Company market share analysis, 2022
4.7. Porter’s Five forces analysis
4.8. Price point analysis
4.9. New Investment Analysis
4.10. PESTEL Analysis
- Global Plant-Based Meat Market, 2017-2030
5.1. Market size & Forecast, 2017-2030
5.1.1. Demand
5.1.1.1. By Value (USD Billion)
5.1.2. Consumption
5.1.2.1. By Volume (Tons)
5.1.3. Supply/Production
5.1.3.1. By Volume (Tons)
5.2. Market Share & Forecast, 2017-2030
5.2.1. By Product
5.2.1.1. Burger Patties
5.2.1.2. Sausages
5.2.1.3. Strips & Nuggets
5.2.1.4. Meatballs
5.2.1.5. Fillets
5.2.1.6. Wings
5.2.1.7. Crumbles
5.2.1.8. Others (Chipotle, Bites, Cutlet, etc.)
5.2.2. By Source
5.2.2.1. Soy based
5.2.2.2. Wheat
5.2.2.3. Quinoa
5.2.2.4. Oats
5.2.2.5. Others (Beans, Nuts, Peas, etc.)
5.2.3. By Type
5.2.3.1. Pork
5.2.3.2. Beef
5.2.3.3. Chicken
5.2.3.4. Fish
5.2.3.5. Others (Lamb, Turkey, etc.)
5.2.4. By Distribution Channel
5.2.4.1. B2C
5.2.4.1.1. Grocery Stores
5.2.4.1.2. Food & Drinks Specialty Stores
5.2.4.1.3. Online Retail
5.2.4.1.4. Hypermarkets/Supermarkets
5.2.4.2. B2B
5.2.5. By End-Users
5.2.5.1. Commercial
5.2.5.2. Residential
5.2.5.3. Institutional
5.2.6. By Region
5.2.6.1. North America
5.2.6.2. Europe
5.2.6.3. Asia Pacific
5.2.6.4. The Middle East & Africa
5.2.6.5. South America
- North America Plant-Based Meat Market, 2017-2030
6.1. North America Plant-Based Meat Market size & Forecast, 2017-2030
6.1.1. Demand
6.1.1.1. By Value (USD Billion)
6.2. North America Plant-Based Meat Market Share & Forecast, 2017-2030
6.2.1. By Product
6.2.1.1. Burger Patties
6.2.1.2. Sausages
6.2.1.3. Strips & Nuggets
6.2.1.4. Meatballs
6.2.1.5. Fillets
6.2.1.6. Wings
6.2.1.7. Crumbles
6.2.1.8. Others (Chipotle, Bites, Cutlet, etc.)
6.2.2. By Source
6.2.2.1. Soy based
6.2.2.2. Wheat
6.2.2.3. Quinoa
6.2.2.4. Oats
6.2.2.5. Others (Beans, Nuts, Peas, etc.)
6.2.3. By Type
6.2.3.1. Pork
6.2.3.2. Beef
6.2.3.3. Chicken
6.2.3.4. Fish
6.2.3.5. Others (Lamb, Turkey, etc.)
6.2.4. By Distribution Channel
6.2.4.1. B2C
6.2.4.1.1. Grocery Stores
6.2.4.1.2. Food & Drinks Specialty Stores
6.2.4.1.3. Online Retail
6.2.4.1.4. Hypermarkets/Supermarkets
6.2.4.2. B2B
6.2.5. By End-Users
6.2.5.1. Commercial
6.2.5.2. Residential
6.2.5.3. Institutional
6.2.6. By Country
6.2.6.1. U.S
6.2.6.2. Canada
6.2.6.3. Mexico
6.2.7. By Price Point Analysis
6.2.8. Company Market Share (Top 3-5)
6.2.9. Manufacturer & Distributor List (Top 5)
6.2.10. Economic Impact Study on North America Plant-Based Meat Market
- Europe Plant-Based Meat Market, 2017-2030
7.1. Europe Plant-Based Meat Market size & Forecast, 2017-2030
7.1.1. Demand
7.1.1.1. By Value (USD Billion)
7.1.2. Consumption
7.1.2.1. By Volume (Tons)
7.1.3. Supply/Production
7.1.3.1. By Volume (Tons)
7.2. Europe Plant-Based Meat Market Share & Forecast, 2017-2030
7.2.1. By Product
7.2.1.1. Burger Patties
7.2.1.2. Sausages
7.2.1.3. Strips & Nuggets
7.2.1.4. Meatballs
7.2.1.5. Fillets
7.2.1.6. Wings
7.2.1.7. Crumbles
7.2.1.8. Others (Chipotle, Bites, Cutlet, etc.)
7.2.2. By Source
7.2.2.1. Soy based
7.2.2.2. Wheat
7.2.2.3. Quinoa
7.2.2.4. Oats
7.2.2.5. Others (Beans, Nuts, Peas, etc.)
7.2.3. By Type
7.2.3.1. Pork
7.2.3.2. Beef
7.2.3.3. Chicken
7.2.3.4. Fish
7.2.3.5. Others (Lamb, Turkey, etc.)
7.2.4. By Distribution Channel
7.2.4.1. B2C
7.2.4.1.1. Grocery Stores
7.2.4.1.2. Food & Drinks Specialty Stores
7.2.4.1.3. Online Retail
7.2.4.1.4. Hypermarkets/Supermarkets
7.2.4.2. B2B
7.2.5. By End-Users
7.2.5.1. Commercial
7.2.5.2. Residential
7.2.5.3. Institutional
7.2.6. By Country
7.2.6.1. Germany
7.2.6.2. UK
7.2.6.3. France
7.2.6.4. Italy
7.2.6.5. Rest of Europe
7.2.7. By Price Point Analysis
7.2.8. Company Market Share (Top 3-5)
7.2.9. Manufacturer & Distributor List (Top 5)
7.2.10. Economic Impact Study on Europe Plant-Based Meat Market
- Asia Pacific Plant-Based Meat Market, 2017-2030
8.1. Asia Pacific Plant-Based Meat Market size & Forecast, 2017-2030
8.1.1. Demand
8.1.1.1. By Value (USD Billion)
8.1.2. Consumption
8.1.2.1. By Volume (Tons)
8.1.3. Supply/Production
8.1.3.1. By Volume (Tons)
8.2. Asia Pacific Plant-Based Meat Market Share & Forecast, 2017-2030
8.2.1. By Product
8.2.1.1. Burger Patties
8.2.1.2. Sausages
8.2.1.3. Strips & Nuggets
8.2.1.4. Meatballs
8.2.1.5. Fillets
8.2.1.6. Wings
8.2.1.7. Crumbles
8.2.1.8. Others (Chipotle, Bites, Cutlet, etc.)
8.2.2. By Source
8.2.2.1. Soy based
8.2.2.2. Wheat
8.2.2.3. Quinoa
8.2.2.4. Oats
8.2.2.5. Others (Beans, Nuts, Peas, etc.)
8.2.3. By Type
8.2.3.1. Pork
8.2.3.2. Beef
8.2.3.3. Chicken
8.2.3.4. Fish
8.2.3.5. Others (Lamb, Turkey, etc.)
8.2.4. By Distribution Channel
8.2.4.1. B2C
8.2.4.1.1. Grocery Stores
8.2.4.1.2. Food & Drinks Specialty Stores
8.2.4.1.3. Online Retail
8.2.4.1.4. Hypermarkets/Supermarkets
8.2.4.2. B2B
8.2.5. By End-Users
8.2.5.1. Commercial
8.2.5.2. Residential
8.2.5.3. Institutional
8.2.6. By Country
8.2.6.1. China
8.2.6.2. India
8.2.6.3. Japan
8.2.6.4. Australia
8.2.6.5. Rest of Asia pacific
8.2.7. By Price Point Analysis
8.2.8. Company Market Share (Top 3-5)
8.2.9. Manufacturer & Distributor List (Top 5)
8.2.10. Economic Impact Study on Asia-Pacific Plant-Based Meat Market
- The Middle East & Africa Plant-Based Meat Market, 2017-2030
9.1. The Middle East & Africa Plant-Based Meat Market size & Forecast, 2017-2030
9.1.1. Demand
9.1.1.1. By Value (USD Billion)
9.1.2. Consumption
9.1.2.1. By Volume (Tons)
9.1.3. Supply/Production
9.1.3.1. By Volume (Tons)
9.2. The Middle East & Africa Plant-Based Meat Market Share & Forecast, 2017-2030
9.2.1. By Product
9.2.1.1. Burger Patties
9.2.1.2. Sausages
9.2.1.3. Strips & Nuggets
9.2.1.4. Meatballs
9.2.1.5. Fillets
9.2.1.6. Wings
9.2.1.7. Crumbles
9.2.1.8. Others (Chipotle, Bites, Cutlet, etc.)
9.2.2. By Source
9.2.2.1. Soy based
9.2.2.2. Wheat
9.2.2.3. Quinoa
9.2.2.4. Oats
9.2.2.5. Others (Beans, Nuts, Peas, etc.)
9.2.3. By Type
9.2.3.1. Pork
9.2.3.2. Beef
9.2.3.3. Chicken
9.2.3.4. Fish
9.2.3.5. Others (Lamb, Turkey, etc.)
9.2.4. By Distribution Channel
9.2.4.1. B2C
9.2.4.1.1. Grocery Stores
9.2.4.1.2. Food & Drinks Specialty Stores
9.2.4.1.3. Online Retail
9.2.4.1.4. Hypermarkets/Supermarkets
9.2.4.2. B2B
9.2.5. By End-Users
9.2.5.1. Commercial
9.2.5.2. Residential
9.2.5.3. Institutional
9.2.6. By Country
9.2.6.1. Saudi Arabia
9.2.6.2. UAE
9.2.6.3. South Africa
9.2.6.4. Rest of The Middle East & Africa
9.2.7. By Price Point Analysis
9.2.8. Company Market Share (Top 3-5)
9.2.9. Manufacturer & Distributor List (Top 5)
9.2.10. Economic Impact Study on The Middle East & Africa Plant-Based Meat Market
- South America Plant-Based Meat Market, 2017-2030
10.1. South America Plant-Based Meat Market size & Forecast, 2017-2030
10.1.1. Demand
10.1.1.1. By Value (USD Billion)
10.1.2. Consumption
10.1.2.1. By Volume (Tons)
10.1.3. Supply/Production
10.1.3.1. By Volume (Tons)
10.2. South America Plant-Based Meat Market Share & Forecast, 2017-2030
10.2.1. By Product
10.2.1.1. Burger Patties
10.2.1.2. Sausages
10.2.1.3. Strips & Nuggets
10.2.1.4. Meatballs
10.2.1.5. Fillets
10.2.1.6. Wings
10.2.1.7. Crumbles
10.2.1.8. Others (Chipotle, Bites, Cutlet, etc.)
10.2.2. By Source
10.2.2.1. Soy based
10.2.2.2. Wheat
10.2.2.3. Quinoa
10.2.2.4. Oats
10.2.2.5. Others (Beans, Nuts, Peas, etc.)
10.2.3. By Type
10.2.3.1. Pork
10.2.3.2. Beef
10.2.3.3. Chicken
10.2.3.4. Fish
10.2.3.5. Others (Lamb, Turkey, etc.)
10.2.4. By Distribution Channel
10.2.4.1. B2C
10.2.4.1.1. Grocery Stores
10.2.4.1.2. Food & Drinks Specialty Stores
10.2.4.1.3. Online Retail
10.2.4.1.4. Hypermarkets/Supermarkets
10.2.4.2. B2B
10.2.5. By End-Users
10.2.5.1. Commercial
10.2.5.2. Residential
10.2.5.3. Institutional
10.2.6. By Country
10.2.6.1. Brazil
10.2.6.2. Argentina
10.2.6.3. Rest of South America
10.2.7. By Price Point Analysis
10.2.8. Company Market Share (Top 3-5)
10.2.9. Manufacturer & Distributor List (Top 5)
10.2.10. Economic Impact Study on South America Plant-Based Meat Market
- Competitor Analysis
11.1. Company Description
11.2. Financial Analysis
11.3. Key Products
11.4. Key Management Personnel
11.5. Contact Address
11.6. SWOT Analysis
11.7. Company profile
11.7.1. Impossible Foods
11.7.2. Beyond Meat
11.7.3. Garden Protein International
11.7.4. Morningstar Farms
11.7.5. Quorn Foods
11.7.6. Amy’s Kitchen
11.7.7. Maple Leaf Foods
11.7.8. The Vegetarian Butcher
11.7.9. Tofurky
11.7.10. Gold&Green Foods
11.7.11. Sunfed
11.7.12. VBites
11.7.13. Other Prominent Players.
Frequently Asked Questions (FAQ):
Plant-based meat is artificial meat made from plant protein, amino acids, and fat and added with plant-based hemoglobin synthesized by yeast. Plant-based meat uses peas, soybeans, and other plants as raw materials to separate vegetable protein and fiber.
The surge in demand for vegetarian products, growing government initiatives to consume nutritious food, increasing consumer awareness for the health benefits of plant-based meat are the main growth drivers of the global plant-based meat market.
Beef, chicken, pork, fish, soybeans, and peas are plant-based meat easily available in the market.
Plant-based meat can be segmented in the following areas- source segmental analysis, product segmental analysis, type segmental analysis, distribution segmental analysis, end-user segmental analysis, and regional segmental analysis.
North America is expected to have the largest share in the global plant-based meat market.
The global plant-based meat market was valued at USD 5.05 billion, and it is expected to reach USD 12.48 billion with a CAGR of 14.5 %during the forecast period of 2022-2028.
