Plant-based Meat Market is Expected to Register a CAGR of 5.8% From 2018 to 2026 - Persistence Market Research

Persistence Market Research (PMR) delivers key insights on the global plant-based meat market in its upcoming outlook titled, 'Global Market Study on the Plant-based Meat Market'. In terms of value, the global plant-based meat market is projected to register a healthy CAGR of 5.8% during the forecast period, due to various factors, regarding which PMR offers vital insights in detail.

     (Logo: https://mma.prnewswire.com/media/661339/Persistence_Market_Research.jpg )

In recent years, the plant-based food market has witnessed significant growth, which is attributable to a rise in the awareness about the critical health benefits associated with the consumption of these kinds of food products. The annual global sales of plant-based meat products has grown at an average of 8% since 2010. In the global market, Asian countries like China have shown a rise in the consumption of plant-based meat products year-on-year. Chinese consumers have been considering plant-based meat products in the daily diet, making the country one of the dominant plant-based meat market on the global stage. On the other hand, the European and North American regions have been tagged as an emerging regions for the global plant-based meat market. In Germany, one out of ten consumers have been buying plant-based meat products at regular intervals. Most of these consumers are in the millennial age group, showing preference for plant-based meat products. Similarly, in Italy, consumers have lowered the intake of red meat products, and are gradually triggering the demand for plant-based meat products. In North America, the U.S. retail value sales for plant-based meat products have been surging over the past couple of years, surpassing the U.S. animal-based food market. This indicates a rise in the demand for plant-based meat products by consumers in the country.          

Request For Report Sample: https://www.persistencemarketresearch.com/samples/24592

The confluence of several critical factors such as higher penetration rate of social media channels, easy availability of critical information regarding the consumption of plant-based food products, consumers' desire for a healthy lifestyle, and rise in per capita income in several developing nations has been triggering the demand for plant-based meat products on the global stage. The tenacity of consumers' adoption of a healthy lifestyle, fat-free diet in the daily routine has been driving some of the major food manufacturers to come up with plant-based meat products. For instance, in 2016, Rosquette launched NUTRALYS®? T70S, a plant-based meat product, in order to cater to the rising demand for plant-based food products.

In terms of revenue, the global plant-based meat market is expected to represent an incremental opportunity of US$ 20,261.5 Mn by 2026 end over 2017. By product type, the RTC/RTE segment is expected to register relatively higher CAGR growth in the global plant-based meat market. The North American region is expected to register a CAGR growth of 8.3% over the forecast period due to a rise in the vegan population in the region.

Plant-based Meat Market Segmented By Product Type - Tofu, Tempeh, Seitan, RTC/RTE, Natto; Source - Soy-based Meat Alternatives, Wheat-based Meat Alternatives, Mycoprotein Meat Alternatives, Other Sources of Meat Alternatives; End Use - Retail, Industrial; Distribution Channel - Business to Business, Business to Consumer (Modern Groceries, Convenience Stores, Food & Drink Specialty Stores, Traditional Stores, Online Retail): https://www.persistencemarketresearch.com/market-research/plantbased-meat-market.asp

Drivers & Restraints for Plant-based Meat Market 

Owing to a rise in the awareness about the critical health benefits gained by the consumption of plant-based food products, over the past couple of years there has been a rise in the overall vegan population, globally. 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 alternative for meat, and consequently, other soy food products like tempeh are also gaining popularity due to its texture, chewiness, and sensory attributes.

Download and View Report TOC, Figures and Tables @ https://www.persistencemarketresearch.com/methodology/24592

Moreover, there has been concerns of rising obesity in most o developed countries like the U.S. and major parts of the European region due to the intake of unhealthy and high cholesterol content food. As a result, there is a shift in the preference for plant-based food products, such as plant-based meat products, which promotes good health among these consumers.

The price of the product is one of the factors that is considered by consumers while buying a meat alternative. Many consumers have expressed concerns over the prices of meat alternatives, which are relatively higher in some countries than meat itself. In such circumstances, these expensive prices of plant-based meat products are likely to affect market growth in a bigger way than it appears, as positive consumer approach towards meat alternatives is not very mature, and high prices may drive away even those consumers who are ready to opt for meat alternatives.

Get full Report Now: https://www.persistencemarketresearch.com/checkout/24592

On the basis of region, the APAC region accounts for a higher value share in the global plant-based meat market in terms of value sales, due to the ever-rising consumption rate of plant-based food products in the region. China has been a dominant region for the plant-based meat market in terms of consumption and production. North America is expected to post higher growth with a CAGR of 8.9% over the forecast period.

More from PMR's Food Innovation Intelligence:

Citrus Oil Market Segmentation by By Oil Type (Orange Oil, Bergamot Oil,Lemon Oil, Lime Oil, Mandarin Oil, Grapefruit Oil); By Application type (Food & Beverages, Cosmetics and Personal Care Products, Home Care Products,Therapeutic Massage Oils, Other Industrial Applications)- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 to 2027: https://www.persistencemarketresearch.com/market-research/citrus-oil-market.asp

Natural and Organic Flavors Market Segmentaion by Source type (fruits and fruits juices); by Flavor type (Natural flavor, Organic flavors); by Product type (Beverages, Confectionaries and Savories)- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 to 2026: https://www.persistencemarketresearch.com/market-research/natural-and-organic-flavors-market.asp

Heart Health Supplements Market Segmentation by Form (Soft Gels/Pills, Powder, Liquid); by End User (Men, Women,  Senior Citizen); by Distribution Channel (Pharmacies Drug Stores, Health & Beauty Stores, Specialty Stores,Online Sales, Others); by Ingredient Type (Vitamins & Minerals, Amino Acids, Botanical Supplements, Others)- - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 to 2026: https://www.persistencemarketresearch.com/market-research/heart-health-supplements-market.asp

Persistence Market Research Overview 

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Contact
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com

PMR Latest News:  https://www.persistencemarketresearch.com/news