DUBLIN, August 5, 2022 /PRNewswire/ — The “Global plant-based meat market by source (soy, wheat, blends, peas), product (patties, hamburger strips and nuggets, sausages, meatballs), type (beef, chicken, pork, fish), Distribution Channel, Storage and Region – Forecast to 2027″ report has been added to from ResearchAndMarkets.com offer.
According to the publisher, the global plant-based meat market is estimated at $7.9 billion in 2022. It should reach $15.7 billion by 2027, with a CAGR of 14.7%, in value between 2022 and 2027. The market is gaining momentum with the growing demand for plant-based meat products. Moreover, growing consumer awareness of the benefits offered by a vegan diet is one of the major factors propelling the demand for plant-based meat products across the globe. Major players have invested significantly in R&D to meet changing consumer preferences and reduce production costs.
By source, soybean segment occupies the highest market share during the forecast period
Based on the source, the soybean segment is estimated to occupy the highest market share during the forecast period. Soy is a nutrient-dense legume that is an alternative to meat sources. Traditionally, the consumption of soy and soy products is associated with the Asian population, and it is widely used in comparison to wheat and corn. However, the concern associated with soy is that it is a recognized allergen in a significant population.
By type, the beef segment is expected to account for the largest market share
Based on type, the beef segment accounts for the largest market share and would dominate the market in terms of value during the forecast period. Plant-based beef offers similar characteristics to beef. Beef-related plant-based products, such as meatless beef cuts, beefless burgers, beef watercress, and steak, are made from sources such as soy and wheat.
By product, burger patties segment is expected to dominate the market over the forecast period
Based on product, burger patties segment accounts for the highest market share in 2022. Plant-based burger patties are made from legumes, grains, and various vegetables. Beyond Meat (USA), one of the major players in the market, supplies its burger patty to different food outlets in the USA and has also partnered with Dot Foods (USA), which is the most major food distributor in the United States.
By distribution channel, the food retail segment is estimated to account for the highest market share
Based on the distribution channels, the food retail segment is estimated to account for the largest market share in the global plant-based meat market and is expected to grow at a significant CAGR. Companies operating in the market form partnerships with retail outlets to distribute their products. Plant-based meat products are one of the main drivers of sales in the grocery department of food distribution channels.
The European region is the largest market for the vegetable meat market during the forecast period
Europe is the largest region in the plant-based meat market and it is growing with a considerable CAGR between 2022 and 2027. In Europe, growing vegan trends, especially in the UK, are expected to increase the demand for plant-based meat products. The UK is expected to be the largest plant-based meat market in the Europe during the forecast period. Growing consumer health concerns over meat products, rising consumer inclination towards healthy plant-based meat products, and the exponential trend towards veganism in the country are the major factors driving the growth of the meat market. plant-based meat.
Market dynamics
Drivers
- Growing vegan and flexitarian population across the globe
- Growing awareness of the health benefits of plant-based meat products over animal meat products
- Growth of government initiatives and major investments
- Major food industries invest in plant-based meat products
Constraints
- Population allergic to plant-based sources of meat, such as soy and wheat
- higher price products compared to traditional meat
- Possibilities of nutritional and vitamin deficiencies in vegans
Opportunities
- Favorable marketing and correct positioning of plant-based meat
- Increased consumer interest in meat substitutes
Challenges
- Perception regarding the taste of meat products of plant origin
- Genetically modified (GM) soy
Main topics covered:
1. Introduction
2 Research methodology
3 Executive Summary
4 premium previews
5 Market Overview
6 industry trends
7 Plant-Based Meat Market, By Source
8 Vegetable Meat Market, by Type
9 Plant-Based Meat Market, By Product
10 Plant-Based Meat Market, By Distribution Channel
11 Plant-Based Meat Market, By Storage
12 Plant-based Meat Market, by Region
13 Competitive Landscape
14 company profiles
15 adjacent and related markets
16 Appendix
Companies cited
- Alpha foods
- In front of the butcher
- Beyond meat
- Trademarks Conagra, Inc.
- Fazendo Futuro
- Gold&Green Foods Ltd.
- Good point
- Impossible Foods Inc.
- Kellogg Company
- Let’s plant some meat
- Maple Leaf Foods
- Nissin World
- No bad foods
- Planterra Foods
- powered by the sun
- Tofurki
- The foods of tomorrow
- Unilever
- Vbites Foods Limited
- Vezlay Foods
For more information on this report, visit https://www.researchandmarkets.com/r/gf1inh
Media Contact:
Research and Markets
Laura Woodsenior
[email protected]
For EST office hours, call +1-917-300-0470
For USA/CAN call toll free +1-800-526-8630
For GMT office hours call +353-1-416-8900
US Fax: 646-607-1907
Fax (outside the US): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets