The plant-based meat market consists of sales of plant-based meat and related services. Plant-based meat is prepared from plants and is similar to the conventional meat in appearance and taste. It is available in the form of a burger patty, crumbles, nuggets, and sausages. The plant-based meat is produced using ingredients such as wheat gluten, lentils, yuba, tofu, soybeans, and a variety of nuts.
Global Plant-Based-Meat Market Size And Drivers:
The global plant-based-meat market is expected grow from $11.86 billion in 2020 to $13.28 billion in 2021 at a compound annual growth rate (CAGR) of 12%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $20.78 billion in 2025 at a CAGR of 12%. Increasing consumer awareness associated with the benefits of vegetarian diets is projected to contribute to the growth of the plant-based meat market.
Request For A Sample For The Global Plant-Based-Meat Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3089&type=smp
Trends In The Global Plant-Based-Meat Market
The increasing launch of new innovative products that are made from plant-based meat is a major trend in the plant-based meat market. For instance, in June 2019, the world’s largest meat producer announced the sales of preprotein made nuggets at grocery stores as a part of a new brand, Raised & Rooted that is engaged in selling blended and plant-based meat products. Moreover, in June 2019, a leader in plant-based meat announced the launch of its new product, Beyond Beef. Beyond Beef is new plant-based ground meat prepared without GMOs, gluten or soy designed to deliver meaty texture, juiciness, and the same versatility of traditional beef.
Global Plant-Based-Meat Market Segments:
The global plant-based-meat market is further segmented –
By Product Type: Burger Patties, Sausages, Strips, Nuggets, Meatballs, Others
By Source: Soy, Wheat, Pea, Others
By Distribution Channel: Grocery Stores, Food & Drinks Specialty Stores, Convenience Stores, Restaurants, Online Stores
By Geography: The global plant-based-meat market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Plant-Based-Meat Market At:
https://www.thebusinessresearchcompany.com/report/plant-based-meat-market-global-report-2020-30-covid-19-growth-and-change
Plant-Based-Meat Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides plant-based-meat market overviews, analyzes and forecasts market size and growth for the global plant-based-meat market, plant-based-meat market share, plant-based-meat market players, plant-based-meat market segments and geographies, plant-based-meat market’s leading competitors’ revenues, profiles and market shares. The plant-based-meat market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
