The global plant-based meat market size is expected to grow from $4.82 billion in 2021 to $5.13 billion in 2022 at a compound annual growth rate (CAGR) of 6.4%. The plant-based meats market is expected to grow to $6.59 billion in 2026 at a CAGR of 6.5%.
What is the Global Plant-Based-Meat Market?
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.
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What drives the Global Plant-Based-Meat Market?
Increasing consumer awareness associated with the benefits of vegetarian diets is projected to contribute to the growth of the plant-based meat market. Vegetarian diets offer various benefits such as low insulin levels, decreased rate of heart diseases, and improved kidney functions. According to Vegconomist, the vegan business magazine article published in July 2019, plant-based meat contains lower levels of cholesterol, saturated fat, and calories in comparison with animal-based meat. Moreover, rising consumer awareness on animal rights through global welfare organizations such as Animal Aid Unlimited (AAU) and People for the Ethical Treatment of Animals (PETA) is to boost the demand for plant-based meat products, which in turn, is predicted to uptake the revenues of plant-based meat market over the forecast period.
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Global Plant-Based-Meat Market Segments
The global plant-based-meat market is segmented:
By Product Type: Burger Patties, Sausages, Strips, Nuggets, Meatballs, Others
By Source: Soy, Wheat, Pea, Others
By Distribution Channel: Grocery Stores, Food and Drinks Specialty Stores, Convenience Stores, Restaurants, Online Stores
By Geography: The regions covered in the plant-based-meat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Plant-Based-Meat Global Market Report 2022provides market size and growth forecasts for the global plant-based-meat market, global plant-based-meat market share, plant-based-meat market segments and geographies, plant-based-meat market competitive landscape including 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.
Global Plant-Based-Meat Industry Playersinclude Amy’s Kitchen, The Vegetarian Butcher, Maple Leaf Foods, Beyond Meat, Impossible Foods, Greenleaf Foods, Hungry Planet, Next Level, Abbots Butcher. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
