Plant-Based Meat Market size Is Projected To Reach USD 19450 Million By 2027 At A CAGR of 8.5% - Valuates Reports
BANGALORE, India, Dec. 6, 2021 /PRNewswire/ -- Plant Based Meat Market is segmented By Type - Soy-based Meat Alternatives, Mycoprotein Meat Alternatives, Wheat-based Meat Alternatives, Others, By Application - Vegetarian, Non-vegetarian. Global Opportunity Analysis and Industry Forecast 2021 - 2027. It is published in Valuates Reports under the Food Category.
The global Plant-based Meat market size is projected to reach USD 19450 million by 2027, from USD 10660 million in 2020, at a CAGR of 8.5% during 2021-2027.
Major Factors Driving The Growth Of The Plant-Based Meat Market Are
The plant-based meat market is experiencing substantial expansion as a result of the growing vegan and flexitarian population around the world, greater awareness about the health benefits of plant-based meat over animal meat, and increased government initiatives and significant investments.
Growing consumer interest in plant-based diets, as well as increased awareness of animal rights through various animal welfare organizations, are projected to drive market expansion.
Concerns regarding greenhouse gases (GHG) produced by the meat industry's practices are in turn expected to fuel the plant-based meat market.
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TRENDS INFLUENCING THE GROWTH OF PLANT-BASED MEAT MARKET
Plant-based meat is increasingly becoming a part of a vegan diet, in which people live a vegetarian lifestyle free of animal products. Veganism is becoming more popular among consumers for health and ethical reasons, while vegetarian ingredients are becoming more popular among customers who want to prevent animal cruelty and consume sustainable food and beverage products. This trend is expected to drive the growth of the plant-based meat market.
The plant-based Meat Market is predicted to grow as more people become aware of the health benefits of plant-based meat over animal meat. People are eating more fruits, vegetables, legumes, nuts, and seeds as a result of the plant-based trend. Plant-based goods also have a variety of health benefits, which consumers are becoming more aware of recently. Excessive intake of animal-based meat has been linked to diet-related disorders such as obesity, type 2 diabetes, heart disease, and cancer.
Consumption of plant-based meat, on the other hand, does not result in the development of such disorders. Furthermore, they contribute to the development of stronger immunity. The nutritional benefits of plant-based meats, as well as their safety when compared to regular meat, are two major considerations that have helped them acquire public attention and have in turn increased their demand.
The industry's leading players are collaborating with restaurant chains and fast-food restaurants to promote the acceptability of their plant-based meat alternatives. This, in turn, is projected to boost the plant-based meat market. Plant-based meat products, such as burgers, sausages, and nuggets, are rapidly replacing conventionally processed meat products in restaurant chains and fast-food restaurants.
Furthermore, producers ranging from start-ups to major consumer packaged goods (CPG) corporations are rapidly developing in the plant-based meat market around the world. Plant-based meat is being embraced by even the world's top meat corporations due to its price, diversity, accessibility, and quality, as well as its vegetarian lifestyle.
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PLANT-BASED MEAT MARKET SHARE ANALYSIS
Soy-based meat is expected to be the most lucrative segment during the forecast period. In comparison to traditional animal- and dairy-based food items, soy-based meat products not only cut formulation costs but also have a lower carbon footprint. The entire market is expected to rise due to rising demand for the product due to its better eating features, such as improved microwave-ability and slice-ability.
North America is expected to be the most lucrative region during the forecast period. The increased consumer awareness of the hazards associated with consuming tainted meat products, as well as the increasing use of meatless meat products, are both contributing to the market's growth in this region. In reaction to the increased consumption of plant-based foods, particularly plant-based meat, consumers' perceptions of food sustainability and safety are projected to shift even more.
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PLANT BASED MEAT REGIONAL OUTLOOK
This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue and sales data of each region and country for the period 2016-2027.North America, Europe, China and Japan are the major regions studied in the research report.
Plant Based Meat Market By Company
- Pinnacle Foods
- Turtle Island Foods
- Nutrisoy
- Amy's Kitchen
- Atlantic Natural Foods
- Impossible Foods
- The Hain Celestial Group
- Beyond Meat
- Pacific Foods of Oregon
- Monde Nissin Corporation
- Kellogg Company
- Fry Group Foods
- Nasoya Foods
- Hügli Holding
- Sweet Earth
- VBites Food
- Lightlife Foods
- The Kraft Heinz Company
- Schouten Europe
- Taifun-Tofu
- Kellogg's
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SIMILAR REPORTS :
- The cultured meat market size was valued at USD 1.64 million in 2021, and is estimated to reach USD 2788.1 million by 2030, registering a CAGR of 95.8% from 2022 to 2030.
- The global meat substitute market size was valued at USD 4,512.1 million in 2019, and is projected to reach USD 8,823.6 million by 2027, registering a CAGR of 7.2% from 2021 to 2027.
- The global Red Meat market was valued at USD 414540 million in 2020 and is expected to reach USD 605460 million by the end of 2027, growing at a CAGR of 5.1% during 2021-2027.
- The global textured vegetable protein market size was valued at USD 987.9 million in 2019, and is projected to reach USD 2,139.6 million by 2027, registering a CAGR of 9.2% from 2021 to 2027.
- Global and Japan High Protein Plant-based Meat Market Insights, Forecast to 2027
- Global and Japan Plant-Based Alternative Meat Market Insights, Forecast to 2027
- Global and China Plant-Based Meat Substitutes Market Insights, Forecast to 2027
- Global Plant-based-protein Meat Sales Market Report 2021
- Global Plant Based Pork Sales Market Report 2021
- Global Plant Based Tuna Market Size, Status and Forecast 2021-2027
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