DUBLIN--(BUSINESS WIRE)--The "Plant-based Meat Market by Source (Soy, Wheat, Pea, Quinoa, Oats, Beans, Nuts), Product (Burger Patties, Sausages, Strips & Nuggets, Meatballs), Type (Pork, Beef, Chicken, Fish), Process, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Plant-Based Meat Market is Estimated to be Valued at USD 12.1 Billion in 2019 and is Likely to Reach USD 27.9 Billion by 2025, Growing at a CAGR of 15.0% During the Forecast Period.
The market is driven by the growing adaption of flexitarian diets, especially in the North American region. For instance, according to an article published by the Food Revolution Organization in 2018, the number of vegans in the US has increased by 600% in the last three years. In Europe, the growing vegan trends, especially in the UK, is expected to increase the demand for plant-based meat products. In the UK, the vegan population in the UK quadrupled between 2014 and 2018.
In the Asia Pacific region, high growth is expected from countries such as China, Singapore, and Australia & New Zealand, owing to the rise in demand for organic food products in the region. Furthermore, the region consists of the largest vegetarian population at a global level, which is expected to create a lucrative opportunity for plant-based meat manufacturers in the coming years.
Apart from this, the expansion of the key players such as Impossible Foods (US) in Singapore and Beyond Meat (US) in China is further expected to boost sales of plant-based meat in the region. The demand for plant-based meat products is expected to increase in the coming years, owing to the growing health concerns among consumers, related to animal-based protein sources, ethical concerns, and environmental concerns.
The soy segment in the plant-based meat market is estimated to account for the largest share in 2019.
Based on the source, the soy segment is estimated to account for the largest share in the plant-based meal market in 2019. Plant-based meat producers are using soy as one of the key ingredients in products such as burger patties, strips & nuggets, sausages, and meatballs. It acts as a suitable alternative to meat sources such as pork, beef, chicken, and fish, owing to its high protein content. Impossible Foods (US), a leading player in the plant-based meat market, offers soy-based burgers. In March 2019, the company launched its plant-based meat (soy-based), with a variety of dishes available at 8 restaurants throughout Singapore. The motive behind the launch was to expand its global reach.
The burger patties segment in the plant-based meat market is estimated to account for the largest share in 2019.
Based on the product, the burger patties segment is estimated to account for the largest share in the plant-based meat market in 2019. Burger patties are one of the most popular products in the plant-based meat market, owing to the robust distribution network of key players offering it. These players have partnerships with retail channels and restaurants at a global level for the distribution of burger patties. Impossible Foods (US) has a widespread presence in the US market, with its products being distributed in over 4000 locations in the country. Apart from this, Beyond Meat (US), in April 2018, formed a partnership with PHW Group (Germany) for the distribution of its plant-based burgers in Europe.
The chicken segment in the plant-based meat market is estimated to account for the largest share in 2019.
Chicken is the most common source of protein among consumers, especially in the Asia Pacific region. However, the growing health concerns related to animal proteins have urged consumers to opt for alternative sources, which has boosted sales of plant-based sources. Apart from this, the environmental concerns related to raising animals and animal suffering have urged consumers to opt for non-animal protein sources, increasing the demand for plant-based products.
The North American plant-based meat market is projected to witness significant growth.
The North American region is projected to be the fastest-growing market during the forecast period. The region is backed by major players such as Impossible Foods (US) and Beyond Meat (US), which initiated the plant-based meat product trends. Apart from this, the consumers in the region are adopting flexitarian diets, which is further boosting the demand for plant-based meat products in the region.
Leading players profiled in this report:
This report includes a study of marketing and development strategies along with the product portfolios of the leading companies in the plant-based meat market.
It includes the profiles of leading companies such as Impossible Foods (US), Beyond Meat (US), Garden Protein International (US), Morningstar Farms (US), Quorn Foods (UK), Amy's Kitchen (US), Maple Leaf Foods (Canada), the Vegetarian Butcher (Netherlands), Tofurky (US), Gold&Green Foods (US), Sunfed (New Zealand), and VBites (UK).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Plant-based Meat Market
4.2 Plant-based Meat Market, By Region, 2019 Vs. 2025
4.3 Plant-based Meat Market, By Source, 2019 Vs. 2025
4.4 Asia Pacific: Plant-based Meat Market, By Source & Country
4.5 Plant-based Meat Market CAGR, By Country
5 Market Overview
5.2 Supply Chain
5.3 Market Dynamics
126.96.36.199 Growing Vegan and Flexitarian Population Across the World
188.8.131.52 Rise in Awareness About the Awareness of the Health Benefits of Plant-based Meat Over Animal Meat
184.108.40.206 Growth in Government Initiatives Along With Significant Investments
220.127.116.11 Major Food Industry Pioneer Investing and Introducing Plant-based Meat Products
18.104.22.168 Population Allergic to Plant-based Meat Sources Such as Soy and Wheat
22.214.171.124 an Alternative Solution to Meet the Tremendously Growing Demand for Animal Meat Products in the Future
126.96.36.199 Favorable Marketing and Correct Positioning of Plant-based Meat
188.8.131.52 Perception of Taste
184.108.40.206 Genetically Modified (GM) Soybeans
6 Market Disruptions
6.1 Increase in Usage of Pea as A Base Ingredient for Plant-based Meat Products
6.2 Demand for Variety in Plant-based Pork and Fish Products
7 Plant-based Meat Market, By Source
7.2.1 Key Player Impossible Foods Offering Soy-Based Burgers, With A Robust Presence in the US
7.3.1 Suitable Alternative to Consumers Allergic to Soy
7.4.1 Growing Interest Among Plant-based Food Manufacturers in Its Health Benefits
7.5.1 Companies in Europe are Adding New Ingredients Such as Oats and Quinoa in Plant-based Foods
8 Plant-based Meat Market, By Product
8.2 Burger Patties
8.2.1 Impossible Foods (US) and Beyond Meat (US) are the Two Leading Market Players That are Offering Plant-based Burgers
8.3.1 The Growing Health and Wellness Trends Have Increased the Popularity of Plant-based Sausages
8.4 Strips & Nuggets
8.4.1 Gardein Protein International (Canada) and Morningstar Farms (US) are some of the Key Companies That Offer Plant-based Chicken Strips
8.5.1 Rising Demand for Variants of Plant-based Meat Products to Drive the Demand for Meatballs Segment
9 Plant-based Meat Market, By Type
9.2.1 North American Region Dominated the Pork Segment for Plant-based Meat Market
9.3.1 Surging Awareness Associated With Consumption of Beef Protein Through High Nutritional Food is Gaining Importance Among Consumers
9.4.1 Growth in Popularity of Chicken Products to Drive the Demand for Plant-based Chicken Meat
9.5.1 Rise in Sales of Fish Products Enabling Plant-based Producers to Offer Plant-based Fish Products
10 Plant-based Meat Market, By Process
10.6 Freezing Systems
11 Plant-based Meat Market, By Region
11.2 North America
220.127.116.11 Presence of Key Players Operating in the Plant-based Meat Market, With A Wide Distribution Network Across the Country
18.104.22.168 Export of Pork and Other Meat Products Enabling the Domestic Slaughter
22.214.171.124 Increasing Demand for Meat and Pork Products in the Country
126.96.36.199 Exponentially Growing Trend of Veganism to Drive the German Market in the Coming Years
188.8.131.52 Increasing Flexitarian Population as Well as Rising Awareness About the Health and Environmental Concerns to Drive the Market
184.108.40.206 Health Concerns Surrounding the Consumption of Animal Meat to Drive the Demand for Plant-based Meat
220.127.116.11 Innovative Product Offerings By Leading Players, and Plant-based Meat Startups to Drive the Market in Future
18.104.22.168 Rising Vegetarian Population to Drive the Market for Plant-based Meat
11.3.6 Rest of Europe
22.214.171.124 Rising Health Concerns, Environmental Concerns, and Increasing Vegan Population to Drive the Market in Future
11.4 Asia Pacific
126.96.36.199 Growing Acceptance of Plant-based Meat Among Chinese Consumers Owing to Rising Inclination Towards Healthy Food Products
188.8.131.52 Rise in Number of Vegan Population to Drive the Market
11.4.3 Australia & New Zealand
184.108.40.206 Increasing Inclination Toward Nutritional Food to Drive the Market During the Forecast Period
220.127.116.11 New Product Launches By Key Players Operating in Global Plant-based Meat Market
11.4.5 Rest of Asia Pacific
18.104.22.168 Consumers Opting for Plant-based Meat Due to the Increasing Health Concerns
11.5 Rest of the World
11.5.1 South America
22.214.171.124 Adoption of an Urbanized Lifestyle in Countries Such as Argentina and Brazil Leading Consumers Towards Plant-based Diet and Thereby Towards Plant-Based Meat
11.5.2 Middle East & Africa
126.96.36.199 Rise in Number of Consumers Opting for Vegan Diet
12 Competitive Landscape
12.2 Competitive Leadership Mapping (Overall Market)
12.3 Ranking of Key Players, 2018
13 Company Profiles
13.1 Beyond Meat
13.2 Impossible Food Inc.
13.3 Maple Leaf Foods
13.4 the Vegetarian Butcher
13.5 Gardein Protein International (Pinnacle Foods)
13.6 Morningstar Farms
13.7 Quorn Foods
13.8 Amy's Kitchen
13.10 Gold&Green Foods Ltd.
13.12 VBites Foods Limited
For more information about this report visit https://www.researchandmarkets.com/r/yxisaq