Plant-based Meat Market Size To Reach $13.8 Billion By 2027, Owing To Rising Adoption Of Vegetarian Eating Habits Among Fitness Aware Consumers

Key Factors Responsible for the Growth of Plant-based Meat Market

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Increasing acceptance of vegetarian eating habits between fitness-aware clients, particularly in the developed nations, is projected to impel the expansion of the market for plant-based meat, during the period of the forecast. Rising concerns about Greenhouse Gas (GHG), produced by the procedures of the meat business, in addition to the animal wellbeing, accompanied by the support of public figures for vegetarian eating habits, are estimated to boost the demand for plant-based meat foodstuffs, in the market. Mainly, the plant-based meat is used up in the Hotel/Restaurant/Café (HORECA) subdivision.

The crucial companies of the industry are working together with the restaurant chains as well as the fast-food establishments, to encourage the acceptance of their foodstuffs. For example, fast-food junctions, like Subway, Burger King, and MacDonald’s are introducing new-fangled vegetarian meat foodstuffs, to take the advantage of the industry, which is dominated by fitness-aware clients.

Due to the increasing concerns of the end-users about the usual meat goods, after the eruption of the Covid-19 pandemic, plant-based meat burgers are expected to show a stable expansion. These categories of burgers hold low down fat and gluten stuffing that formulates them, extremely preferential merchandise, between the fitness aware persons.

Starbucks, in association with Impossible Foods Inc., presented the Impossible Breakfast Sandwich, in June 2020. This was prepared using the plant-based sausage and was added to its list of options, at the majority of its sites, in the U.S. It was started like the Starbucks’ sustainability program, to encounter the increasing demand from the customers, for the plant-based meat alternative.

Olivier Felicio

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Plant-based Meat Market Size To Reach $13.8 Billion By 2027, Owing To Rising Adoption Of Vegetarian Eating Habits Among Fitness Aware Consumers.

Key Factors Responsible for the Growth of Plant-based Meat Market:

Increasing acceptance of vegetarian eating habits between fitness-aware clients, particularly in the developed nations, is projected to impel the expansion of the market for plant-based meat, during the period of the forecast. Rising concerns about Greenhouse Gas (GHG), produced by the procedures of the meat business, in addition to the animal wellbeing, accompanied by the support of public figures for vegetarian eating habits, are estimated to boost the demand for plant-based meat foodstuffs, in the market. Mainly, the plant-based meat is used up in the Hotel/Restaurant/Café (HORECA) subdivision.

The crucial companies of the industry are working together with the restaurant chains as well as the fast-food establishments, to encourage the acceptance of their foodstuffs. For example, fast-food junctions, like Subway, Burger King, and MacDonald’s are introducing new-fangled vegetarian meat foodstuffs, to take the advantage of the industry, which is dominated by fitness-aware clients.

Due to the increasing concerns of the end-users about the usual meat goods, after the eruption of the Covid-19 pandemic, plant-based meat burgers are expected to show a stable expansion. These categories of burgers hold low down fat and gluten stuffing that formulates them, extremely preferential merchandise, between the fitness aware persons.

Starbucks, in association with Impossible Foods Inc., presented the Impossible Breakfast Sandwich, in June 2020. This was prepared using the plant-based sausage and was added to its list of options, at the majority of its sites, in the U.S. It was started like the Starbucks’ sustainability program, to encounter the increasing demand from the customers, for the plant-based meat alternative.

Report Scope

Report Attribute Details
The market size value in 2020 USD 4.0 billion
The revenue forecast in 2027 USD 13.8 billion
Growth Rate CAGR of 19.4% from 2020 to 2027
The base year for estimation 2019
Historical data 2016 – 2018
Forecast period 2020 – 2027
Quantitative units Revenue in USD million and CAGR from 2020 to 2027
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Source, type, product, end-user, storage, region
Regional scope North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
Country scope U.S.; Canada; Mexico; Germany; U.K.; Italy; The Netherlands; France; China; Japan; Australia & New Zealand; Brazil; Argentina; UAE
Key companies profiled Beyond Meat; Impossible Foods Inc.; Maple Leaf Foods (Field Roast & Maple Leaf); Vegetarian Butcher; Conagra, Inc. (Gardein Protein International); Kellogg NA Co. (MorningStar Farms); Quorn; Amy’s Kitchen, Inc.; Tofurky; Gold&Green Foods Ltd.; Sunfed; VBites Foods Limited; Kraft Foods, Inc.; Lightlife Foods, Inc.; Trader Joe’s; Yves Veggie Cuisine (The Hain-Celestial Canada, ULC); Marlow Foods Ltd. (Cauldron); Ojah B.V.; Moving Mountains; Eat JUST Inc.; LikeMeat GmbH; Gooddot; OmniFoods; No Evil Foods; Dr. Praeger’s Sensible Foods
Customization scope Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options Avail customized purchase options to meet your exact research needs.

Product Insight

On account of the increasing requirement for these foodstuffs, the plant-based sausages section is projected to record the highest CAGR, during the period of the forecast. Strong funding by the companies to launch the novel tastes to their plant-based meat sausages, like spinach pesto, sweet Italian, and hot Italian, are expected to prompt the demand for the product.

The sector of plant-based burgers directed the market and was accounted for over a 29.0% share of the universal revenue in 2019. The constituents in these burgers try hard to reproduce the feel, smell, and taste of meat.

Source Insight

In 2019, soy-based meat ruled the plant-based meat market and held a global revenue share of above 48.0%. Soy is a good quality resource of Branch Amino Acids (BCAAs) and it helps to construct and make stronger the muscles. Not only do the soy-based meat foodstuffs decrease the formulation overheads but show a lesser carbon footprint also, as contrasting to usual dairy and animal-based foodstuff goods.

The pea-based meat source sector is expected to record the highest CAGR for the duration of the forecast. Pea-based meat is simple to cultivate and its farming is reasonably priced. It is loaded with nutrients, like vitamin K & C, manganese, fibre, folate, phosphorous, and thiamine. The capability of the product to support preserve metabolic actions in the individual body, as well as cell separation and lipid synthesis, is estimated to increase its requirement during the period of the forecast.

Regional Insight

The European market is expected to observe the best development, during the forecast period due to the optimistic viewpoint of the consumers, on vegan-meat and vegetarian foodstuffs as well as the strict set of laws in contrast to the animal brutality. Important manufacturing companies are implementing tactical plans, such as mergers & acquisitions, capacity growth and product improvement, to boost their trade in the local market.

In 2019, North America ruled the global plant-based meat market and held a revenue share of more than 39.0%. The enlargement of the provincial market is credited to the increasing utilization of the meatless meat foodstuffs, together with the increasing wakefulness of the clients about the probable possibility of consuming unhygienic meat provisions.

Companies

The companies are concentrating on the research & development actions and on expanding their range to introduce fresh and inventive unconventional meat goods, which imitate the feel and flavour of unusual meats, comprising veal and lobster. The most important companies, operating in the market, are distinguished by a strong sales network amid the restaurants along with global retail chains, for the delivery of their goods.

Some of the companies for plant-based meat market are:

• Dr. Praeger’s Sensible Foods
• Omni Foods
• Like Meat GmbH
• Moving Mountains
• Marlow Foods Ltd. (Cauldron)
• Trader Joe’s
• S Kraft Foods, Inc.
• Sun fed Ltd.
• Tofurky
• Quorn
• Conagra, Inc. (Gardein Protein International)
• Maple Leaf Foods (Field Roast & Maple Leaf)
• Beyond Meat
• No Evil Foods
• Good dot
• Eat JUST Inc.
• Ojah B.V.
• Yves Veggie Cuisine (The Hain-Celestial Canada, ULC)
• Light life Foods, Inc.
• VBites Foods Limited
• Gold&Green Foods Ltd.
• Amy’s Kitchen, Inc.
• Kellogg NA Co. (Morningstar Farms)
• Vegetarian Butcher
• Impossible Foods Inc.

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