Plant-Based Meat Market Size Worth USD 54.49 Billion by 2034 | CAGR: 19.7%

The plant-based meat market size is expected to reach USD 54.49 Billion by 2034, according to a new study by Polaris Market Research. The report “Plant-Based Meat Market Size, Share, Trends, Industry Analysis Report By Source (Soy, Wheat), By Product, By Distribution Channel, By Region – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Plant-based meat products are manufactured by using plant ingredients that mimic animal-derived meat in terms of taste and appearance. They are designed in a way to be indistinguishable from animal meat.

Many consumers are becoming more health-conscious and are seeking food options that are lower in cholesterol, saturated fat, and calories. Plant-based meat offers a healthier alternative to traditional meat, especially for those at risk of heart disease, obesity, or diabetes. Consumers are more likely to choose plant-based options as people learn more about the health risks linked to red and processed meat. This shift is especially strong among younger generations, who actively seek out nutritious and balanced diets. Consequently, health concerns drives growth in the plant-based meat market.

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Animal welfare is an increasingly important issue for many consumers. People are becoming more aware of the treatment of animals in industrial farming and are choosing to avoid animal-based products for ethical reasons. Plant-based meat provides a way to enjoy the taste and texture of meat without contributing to animal suffering. Advocacy by animal rights groups and viral social media content have further increased awareness around this issue. Ethical concerns are pushing consumers toward plant-based options as more people become conscious of where their food comes from, fueling market growth.

Plant-Based Meat Market Report Highlights

• The soy segment is projected to register a CAGR of 20.3% during the forecast period, due to the growing awareness of the environmental impact of traditional meat production.
• The e-commerce segment held a significant revenue share in 2024, holding 11.86% as companies are focusing on e-commerce platforms, which are particularly preferred by millennials.
• North America accounted for 40.65% of the global plant-based meat market revenue share in 2024 due to growing health awareness and shifting consumer preferences
• The market in Asia Pacific is expected to register a CAGR of 20.3% during the forecast period, fueled by rising population, urbanization, and growing awareness of health and sustainability.
• A few global key market players are Amy’s Kitchen Inc.; Beyond Meat Inc.; Boca Foods Company (Kraft Foods, Inc.); Conagra Brands, Inc.; Eat JUST; Gold & Green Foods Ltd.; Greenwise; Impossible Foods Inc.; Kellanova; Kellogg; Maple Leaf Foods Inc.; NOVAMEAT; OmniPork; Quorn Foods; Sunfed; Tofurky; Unilever; v2food Pty Ltd; VBites Foods Limited; and Zikooin.

Polaris Market Research has segmented the plant-based meat market report on the basis of source, product, distribution channel, and region:

By Source (Revenue - USD Billion, 2020–2034)

• Soy
• Wheat
• Peas
• Other Sources

By Product (Revenue - USD Billion, 2020–2034)

• Burger Patties
• Sausages
• Strips & Nuggets
• Meatballs
• Other Products

By Distribution Channel (Revenue - USD Billion, 2020–2034)

• Retail Outlet
• Foodservice
• E-commerce

By Regional Outlook (Revenue - USD Billion, 2020–2034)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa