Plant-Based Meat Market 2022 Growth Drivers, CAGR, Industry Share-Size, Opportunities in Grooming Regions, Top Players
Absolute Markets Insights
In terms of revenue, plant-based meat market was valued at US$ 4892.34 Mn in 2021 growing at a CAGR of 17.89% over the forecast period (2022 – 2030).. The major players operating in the Plant-Based Meat market include: Alpha Foods, Amy's Kitchen, Inc., Before The Butcher, Beyond Meat, Conagra, Inc., Gold&Green Foods Ltd., Hooray Foods, Impossible Foods Inc., Kellogg NA Co., Like Meat, Maple Leaf Foods, Marlow Foods Ltd., Nestlé , No Evil Foods, Planterra Foods , Sunfed, The Meatless Farm Co., Tofurky , Unilever, Vbites Foods Limited, amongst others.
The study provides comprehensive outlook vital to keep market knowledge up to date segmented by Residential Sector, Commercial Sector & Industrial Sector, & Others and 18+ countries across the globe along with insights on emerging & major players. If you want to analyse different companies involved in the Plant-Based Meat industry according to your targeted objective or geography we offer customization according to requirements.
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Industry Trends
Plant-based meat products are becoming increasingly common, predominantly driven by a rise in demand for a healthy lifestyle that causes minimal harm to the environment. Studies show that the meat and dairy industry is responsible for about 14.5% of the total greenhouse gas emissions around the globe. Individuals are increasingly moving towards a plant-based diet, and traditional meat eaters are migrating towards plant-based meat products for satiating their taste for animal meat. Rising awareness regarding the environmental impact of meat processing, coupled with the availability of healthier plant-based meat alternatives for the end-users, is leading to the growth of the global plant-based meat market.
COVID-19 Impact
The COVID-19 pandemic has altered the livelihood and lifestyle of numerous individuals on the globe. Social distancing norms, along with curfew measures to prevent crowding, has been enforced by several countries such as the U.S., the UK, India and Germany, amongst others. The growth of the pandemic has increased the emphasis on healthy living, and a balanced diet, and individuals are increasingly investing in diet alteration initiatives. The COVID-19 pandemic can be traced to the consumption of bats in China. Along with COVID-19, animal meat consumption has also been responsible for the spread of diseases such as Anthrax in cows, goats, and sheep, Bird Flu in poultry animals, Swine Flu in Pork, amongst others.
This is driving people towards the adoption of a meat free diet, and traditional meat eaters are increasingly switching to plant-based meat, especially in countries such as the U.S., India, the UK and Canada, amongst others. Furthermore, the pandemic has accelerated the adoption of plant-based meat products in more vegetarian diet inclined country like India. Studies show that around 30% of Indians identify themselves as vegetarians, which is promoted by the influence of religions like Buddhism, Jainism and Hinduism. Vegetarians, especially young adults and teenagers, are adopting a vegan-based lifestyle as well. Bodies such as Eat Right India, which is led by the Ministry of Health and Family Welfare, is helping individuals adopt a plant-based food diet in order to obtain a sustainable, healthy lifestyle. Therefore, the market participants can target markets like India, Thailand, Sri Lanka and Bhutan, amongst others, especially in the wake of the pandemic. Hence, the pandemic is estimated to propel the adoption of plant-based meat products, thereby having a positive impact on the global plant-based meat market in the coming years.
Customers May Help Identify Market Gaps
Additionally, study precisely covers and examine survey analysis by end users along with primary respondents from Industry to assess market evaluation. The qualitative commentary on changing market dynamics of Plant-Based Meat Market – Outlook and Forecast and consumer behaviour and purchasing patterns helps identify real market gaps. This survey of HTF took a holistic view of consumer behaviours and market perceptions from the start of the pandemic and throughout.
For Consumer Centric Market, Survey or Demand Side Analysis customization is provided wherever applicable which consider Buying behaviour, demographic factor such as Age, Gender, Occupation, Income Level or Education while gathering data. (if applicable)
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Plant-based Meat Market
Plant-Based Meat Market: By Source
• Soy and Tofu
• Peas
• Beans and Lentils
• Mushrooms
• Mung Beans
• Wheat Gluten
• Coconut Oil
• Quinoa
• Others
Plant-Based Meat Market: By Products
• Patties
• Nuggets
• Sausages
• Meatballs
• Others
Plant-Based Meat Market: By Meat Type
• Plant-based Pork
• Plant-based Beef
• Plant-based Seafood
• Plant-based Chicken
• Others
Plant-Based Meat Market: By Type
• Fresh
• Semi-Processed
o Canned
o Frozen
• Ready to Eat
Plant-Based Meat Market: By Sales Channel
• Online
• Offline
Plant-Based Meat Market: By End-User
• Individuals
• Businesses (Cafes, Restaurants, etc.)
Plant-Based Meat Market: By Region
• North America
o U.S.
o Canada
o Mexico
o Rest of North America
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Nordic Countries
Denmark
Finland
Iceland
Sweden
Norway
o Benelux Union
Belgium
The Netherlands
Luxembourg
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o New Zealand
o Australia
o South Korea
o Southeast Asia
Indonesia
Thailand
Malaysia
Singapore
Rest of Southeast Asia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest of Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
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Key Benefits of the Report:
• Global, regional, country, grade, end use industry, and application market size and their forecast from 2022-2030
• Identification and detailed analysis on key market dynamics, such as, drivers, restraints, opportunities, and challenges influencing growth of the market
• Detailed analysis on industry outlook with market specific Porter’s Five Forces analysis, PESTLE analysis, and Value Chain, to better understand the market and build expansion strategies
• Identification of key market players and comprehensively analyze their market share and core competencies, detailed financial positions, key products, and unique selling points
• Analysis on Key players’ strategic initiatives and competitive developments, such as joint ventures, mergers, sales contracts, and new product launches in the market
• Expert interviews and their insights on market shift, current and future outlook, and factors impacting vendors’ short term and long term strategies
• Detailed insights on emerging regions, grade, end use industry, and application with qualitative and quantitative information and facts
• Identification of the key patents filed in the field of Plant-Based Meat
• Finally, the report provides detailed profile and data information analysis of leading companies.
Key Questions Answered with this Study
1) What makes Plant-Based Meat Market feasible for long term investment?
2) Know value chain areas where players can create value?
3) Teritorry that may see steep rise in CAGR & Y-O-Y growth?
4) What geographic region would have better demand for product/services?
5) What opportunity emerging territory would offer to established and new entrants in Plant-Based Meat market?
6) Risk side analysis connected with service providers?
7) How influencing factors driving the demand of Plant-Based Meat in next few years?
8) What is the impact analysis of various factors in the Plant-Based Meat market growth?
9) What strategies of big players help them acquire share in mature market?
10) How Technology and Customer-Centric Innovation is bringing big Change in Plant-Based Meat Market?
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