LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global plant-based meat market since 2019, and the market is poised to grow by USD 3.17 billion during 2020-2024, progressing at a CAGR of around 17% during the forecast period. Request free sample pages
Read the 140-page report with TOC on “Plant-Based Meat Market Analysis Report by Type (plant-based beef, plant-based chicken, plant-based pork, and others), Geography (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024”.
New product launches and the growth of private label brands is anticipated to boost the growth of the plant-based meat market.
Consumers across the world are increasingly becoming health conscious. This coupled with growing concerns pertaining to GHG emissions in the animal meat industry, has increased the demand for plant-based meat products. This is encouraging market vendors to introduce new products to cater to the growing demand for plant-based meat food across the world. For instance, in June 2019, Beyond Meat Inc. launched its latest product, Beyond Beef, which is free from GMOs, soy, and gluten. The product is designed to provide the same versatility, meaty texture, and juiciness of traditional beef. Such successful product launches are helping vendors to increase revenue and expand their presence in the market. These factors are crucial in driving the growth of the global plant-based meat market.
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Major Five Plant-Based Meat Market Companies:
Beyond Meat, Inc.
Beyond Meat Inc. operates the business in the plant-based meat segment. The company offers various plant-based meat products such as burger, beef, sausage, and beef crumbles under the brand, BEYOND.
Gathered Foods Corp.
Gathered Foods Corp. operates the business across segments such as PLANT-BASED TUNA, FROZEN ENTRÉES & APPS, and INGREDIENTS. The company offers a wide range of plant-based meat products under the brand, GOOD CATCH.
Impossible Foods, Inc.
Impossible Foods Inc. operates the business in the plant-based meat segment. Through this segment, the company offers plant-based burgers made of soy protein. The company also provides a wide range of plant-based products under the brand, Impossible.
Maple Leaf Foods, Inc.
Maple Leaf Foods Inc. operates the business in the food products segment. The company offers a wide range of plant-based meat products under the brands, Field Roast and Lightlife.
Monde Nissin Corp.
Monde Nissin Corp. operates the business in the food products segment. Through this segment, the company offers various food products such as instant noodles, wafers, biscuits, and other food products under brands Lucky Me!, Monde, NISSIN, Voice, and Bingo. The company also offers a wide range of plant-based meat under the brand, Quorn.
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Technavio has segmented the plant-based meat market based on the type and region.
Plant-Based Meat Type Outlook (Revenue, USD Billion, 2020 - 2024)
- Plant-based beef
- Plant-based chicken
- Plant-based pork
Plant-Based Meat Regional Outlook (Revenue, USD Billion, 2020 - 2024)
- North America
- South America
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