The global plant-based meat market size is expected to reach USD 27.44 billion by 2030 according to a new study by Polaris Market Research. The report “Plant-Based Meat Market Share, Size, Trends, Industry Analysis Report, By Source (Soy, Wheat, Pea, and Others); By Product (Burger Patties, Sausages, Strips & Nuggets, Meatballs, Others); By Application (Retail Outlets, Foodservice, E-commerce), By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future industry growth.
Meat and dairy replacements are promoted as being healthier and much more environmental than animal protein. Plant-based proteins are becoming more prominent as people are becoming more concerned about the impact on the environment of foods and strive for healthy eating habits, which in turn is expected to boost the industry growth over the forecast period.
Furthermore, increasing concerns regarding animal slaughter coupled with increasing animal-related diseases and allergies, including coronavirus, has led consumers to adopt plant-based flesh, which in turn is benefitting the industry’s growth.
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Soy source segment dominated the industry in 2021 and is expected to maintain its dominance over the forecast period due to its nutritional benefits along with the increasing production. North America is expected to dominate the global market over the forecast period due to the presence of major manufacturers such as Beyond Meat and Impossible Food Inc. Moreover, increasing awareness of the risk associated with animal flesh along with shifting consumer diets towards vegan products.
Some of the key vendors operating in the market include Beyond Meat, Amy’s Kitchen, Garden Protein International, V2food, Greenwise, The Vegetarian Butcher, Gold & Green Foods, Impossible Foods, Morningstar Farms, Maple Leaf Foods, Novameat, Quorn Foods, Omnipork, Sunfed, Tofurky, VBites, and Zikooin.
Polaris Market Research has segmented the plant-based meat market report on the basis of product, source, distribution channel, and region:
Plant-Based Meat, Source Outlook (Revenue – USD Billion, 2018 – 2030)
Plant-Based Meat, Product Outlook (Revenue – USD Million, 2018 – 2030)
- Burger Patties
- Strips & Nuggets
Plant-Based Meat, Distribution Channel Outlook (Revenue – USD Million, 2018 – 2030)
- Retail Outlets
Plant-Based Meat, Regional Outlook (Revenue – USD Million, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa