Plant-based Burger Patties Market | Increasing Vegan Population to Boost the Market Growth | Technavio

LONDON--(BUSINESS WIRE)--The plant-based burger patties market size is poised to grow by USD 650.86 million during 2020-2024, progressing at a CAGR of almost 41% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

The demand for meat is rising across the world owing to the increasing disposable income, growing population, and other sociocultural factors. However, the production of meat pollutes fresh water due to the use of antibiotics, hormones and chemical substances. Moreover, the production process of meat also harms biodiversity and is a major source of GHG emissions. It also contains fat residues and gluten. Alternatives such as plant-based burger patties are rich in protein and are preferred by individuals who follow a vegan diet. Therefore, growing concerns about the environment, awareness about health, the preference for plant-based foods, and the growth of the vegan population together will result in the increased demand for global plant-based burger patties market during the forecast period.

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Report Highlights:

• The major plant-based burger patties market growth came from the offline distribution channel segment. The offline retail landscape is highly competitive due to the presence of several retailers that offer products at competitive prices. Hence to sustain in the competitive market, vendors are introducing new businesses and retail strategies, which includes better pricing strategies, widening of product assortment, and the expansion of retail landscape.
• North America accounted for the largest plant-based burger patties market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing use of online platforms for purchasing groceries, tie-ups of vendors with foodservice chains, and the increasing demand for plant-based foods are some of the factors that will significantly influence plant-based burger patties market growth in this region.
• The plant-based burger patties market is fragmented. Amazon.com Inc., Beyond Meat Inc, Conagra Brands Inc, Impossible Foods Inc, Kellogg Co, Maple Leaf Foods Inc, Nestlé SA, Tesco Plc, The Kroger Co, and WH Group Ltd. are some of the major market participants. To help clients improve their market position, this plant burger patties market forecast report provides a detailed analysis of the market leaders.
• As the business impact of COVID-19 spreads, the Plant-based burger patties market 2020-2024 is expected to have Neutral growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Increased Adoption of Sustainable Manufacturing will be a Key Market Trend

Plant-based burger patties use several ingredients and are manufactured in a way that enhances their shelf life. Hence, they are manufactured and packaged with durable materials such as high-grade plastics. Vendors are investing in innovative product packaging materials and are improving their production process to reduce carbon emissions. The concerns regarding the level of sustainable business operations are compelling vendors to adopt sustainable manufacturing processes. Maple Leaf Foods is the first major food company to be carbon neutral by acknowledging the impact of the global food system on environment and changing the production system to reduce global GHG emissions to zero. The increased adoption of sustainable manufacturing by the vendors is one of the key plant-based burger patties market trends as the products are manufactured using eco-friendly methods.

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Plant-based Burger Patties Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist plant-based burger patties market growth during the next five years
• Estimation of the plant-based burger patties market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the plant-based burger patties market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of plant-based burger patties market vendors

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

• 2.1 Preface
• 2.2 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

• Market ecosystem
• Market characteristics
• Value Chain Analysis
• Market segmentation analysis

PART 04: MARKET SIZING

• Market definition
• Market sizing 2019
• Market Outlook
• Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

PART 06: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL

• Market segmentation by distribution channel
• Comparison by distribution channel
• Offline - Market size and forecast 2019-2024
• Online - Market size and forecast 2019-2024
• Market opportunity by distribution channel

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

• Market drivers
• Market challenges

PART 11: MARKET TRENDS

• Partnership with global foodservice chains
• Increase in M&A and strategic alliance activities
• Increased adoption of sustainable manufacturing

PART 12: VENDOR LANDSCAPE

• Overview
• Landscape disruption
• Competitive scenario

PART 13: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Amazon.com Inc.
• Beyond Meat, Inc.
• Conagra Brands, Inc.
• Impossible Foods, Inc.
• Kellogg Co.
• Maple Leaf Foods, Inc.
• Nestlé SA
• Tesco Plc
• The Kroger Co.
• WH Group Ltd.

PART 14: APPENDIX

• Research methodology
• List of abbreviations
• Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

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