As per the published report, the global plant-based meat market size is estimated to arrive at USD 13.8 billion by 2027. It is projected to develop by 19.4% CAGR, in the period of the forecast.
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 the Greenhouse Gas (GHG), produced by the procedures of the meat business, in addition to the animal wellbeing, accompanied by the support of public figure for the vegetarian eating habits, are estimated to boost the demand for the plant-based meat foodstuffs, in the market. Mainly, the plant-based meat is used up in the Hotel/Restaurant/Café (HORECA) subdivision.
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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 the fitness aware clients.
Due to the increasing concerns of the end users about the usual meat goods, after the eruption of Covid-19 pandemic, plant-based meat burgers are expected to show the stable expansion. These categories of burgers hold low down fat and gluten stuffing that formulate them, extremely preferential merchandise, between the fitness aware persons.
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Further key findings from the report suggest:
• 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 in 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.
• As a result of excessive demand, owing to their protein-rich stuffing, soy-based products held the biggest share of the plant-based meat market, which was above 48% in 2019.
• The section of the plant-based meat sausages product is estimated to record the 20.5% CAGR, during the period of the forecast.
• The increasing attractiveness for the vegetarian eating habits, specifically in European nations, has pressed the need for the plant-based meat foodstuffs, within the region.
• Growing inclination for the plant-based food & drink plus improved retailing of sausages over the retail network are likely to stimulate the enlargement of the section.
Million Insights segmented the global plant-based meat market based on Storage, End User, Type, Product, Source and Region.
Plant-based Meat Source Outlook (Revenue, USD Million, 2016 – 2027)
Plant-based Meat Product Outlook (Revenue, USD Million, 2016 – 2027)
• Nuggets, Tenders & Cutlets
Plant-based Meat Type Outlook (Revenue, USD Million, 2016 – 2027)
Plant-based Meat End-user Outlook (Revenue, USD Million, 2016 – 2027)
Plant-based Meat Storage Outlook (Revenue, USD Million, 2016 – 2027)
Plant-based Meat Regional Outlook (Revenue, USD Million, 2016 – 2027)
• North America
• The U.S.
• The U.K.
• The Netherlands
• Asia Pacific
• Australia & New Zealand
• Central & South America
• Middle East & Africa
List of Key Players of Plant-based Meat Market
• Beyond Meat
• Impossible Foods Inc.
• Maple Leaf Foods (Field Roast & Maple Leaf)
• Vegetarian Butcher
• Conagra, Inc. (Gardein Protein International)
• Kellogg NA Co. (MorningStar Farms)
• Amy’s Kitchen, Inc.
• Gold&Green Foods Ltd.
• VBites Foods Limited
• S 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
• No Evil Foods
• Dr. Praeger’s sensible foods
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