Plant-based Meat Market by Source (Soy, Wheat, Pea, & Other Sources), Product (Burger Patties, Strips & Nuggets, Sausages, Meatballs, & Other Products), Type (Beef, Chicken, Pork, Fish, & Other Types), Process, and Region - Global Forecast to 2025
According to MarketsandMarkets, the plant-based meat market is estimated to be valued at USD 4.3 billion in 2020 and is projected to reach USD 8.3 billion by 2025, recording a CAGR of 14.0%, in terms of value.
The plant-based meat market is primarily driven by factors such as growing vegan and flexitarian population across the world. North American region is forecasted to grow tremendously owing to factors such as rising investments and consumer demand for vegan and clean-label products in the region. One of the major restraints that is expected to hinder the growth of plant-based meat market is higher price of plant-based meat products as compared to traditional meat products.
“By source, the pea segment is projected to grow at the highest CAGR during the forecast period.”
Based on source, the pea segment is expected to be the fastest-growing during the forecast period. This segment is rapidly growing and gaining popularity among plant-based meat manufacturers as it serves as an alternative for consumers with a soy allergy. Pea protein has appealing characteristics such as its lack of allergenicity and its amino acid profile. It is also perceived as clean-label ingredient.
“By product, the burger patties segment is estimated to account for the largest share.”
The burger patties segment of the plant-based meat is dominating the market. The plant-based burger patties have been there in the market for a while now. All the major players operating the plant-based meat market are constantly expanding their distribution network in order make the plant-based burger patties available in the market and cater to the rising demand of consumers.
“The North America region is projected to grow at the highest CAGR during the forecast period”
North America is projected to be the fastest-growing market for the period considered for this study, due to the rising flexitarian population in the region, along with the vegan trend gaining momentum which is further contributing to the growth of plant-based meat market in the region. Also, consumers are opting for meatless versions of their traditional cuisines, as they are incorporating plant-based foods in their daily routine diets.
The plant-based meat market is segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, and RoW (South America, Middle East and Africa).
Break-up of Primaries
By Company Type: Tier 1 – 35%, Tier 2 – 25% and Tier 3 – 40%
By Designation: Manager- 40%, CXOs– 35%, and Executives – 25%
By Region: Asia Pacific - 30%, North America- 20%, Europe - 35%, and Middle East & Africa - 15%
Leading players profiled in this report include the following:
Beyond Meat (US)
Impossible Foods Inc. (US)
Maple Leaf Foods (Canada)
The Vegetarian Butcher (Netherlands)
Gardein Protein International (Canada)
Morningstar Farms (US)
Quorn Foods (US)
Amy’s Kitchen (US)
Gold&Green Foods Ltd. (Finland)
Sunfed (New Zealand)
VBites Food Limited (UK)
Alpha Foods (US)
Planterra Foods (US)
Before the Butcher (US)
No Evil Foods (US)
Like Meat (Germany)
The Meatless Farm Co. (England)
Hooray Foods (US)
Yves Veggie Cuisine (Canada)
This report segments the plant-based meat market on the basis of source, product, type, and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, degree of competition, regulatory framework, value chain & supply chain, ecosystem/market map, end-use analysis, pricing insights, and company profiles—which together comprise and discuss the basic views on the competitive landscape, and emerging & high-growth segments of the plant-based meat market, high-growth regions, industry trends, drivers, restraints, opportunities, and challenges.
Reasons to buy this report
To get a comprehensive overview of the plant-based meat market
To gain wide-ranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them
To gain insights about the major countries/regions, in which the plant-based meat market is flourishing
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