Plant-Based Meat Market Size, Trends, Analysis, Top Companies, and Outlook 2021-2026

According to the latest report by IMARC Group, titled “Plant-Based Meat Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global plant-based meat market size reached a value of US$ 8.6 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit strong growth during 2021-2026. Plant-based meat is a vegan meat substitute that is designed to mimic the flavor, texture and appearance of conventional meat, including chicken, beef and pork. It is prepared by processing starch, edible oils, vegetable extracts, plant protein isolates and seasonings with additives, colorants and flavor-enhancing agents. Plant-based meat products are rich in protein, vitamins, minerals and other essential nutrients, and their consumption is associated with various health benefits, such as reduced chances of developing cardiovascular disorders (CVDs). As a result, they are widely utilized to replace animal proteins across numerous cafes, restaurants and fast food joints.

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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Plant-Based Meat Market Trends:

The increasing inclination of the masses toward veganism is one of the primary factors driving the market growth. Furthermore, there is rising health-consciousness among individuals and awareness regarding the adverse health effects of excessive meat consumption. This has facilitated the adoption of vegan and vegetarian products significantly, including plant-based meat, in the daily diet. The market is further driven by the increasing concerns regarding animal welfare and protection and awareness campaigns led by numerous animal welfare organizations, such as People for the Ethical Treatment of Animals (PETA), to reduce animal killing and cruelty. Furthermore, various established fast food brands are now introducing vegetarian alternatives for their popular meat-based products, which is creating a positive outlook for the market. For instance, Burger King, an American-fast food restaurant chain, recently introduced the Impossible Whopper, a burger prepared with plant-based patty, which is gaining popularity among the masses. Strategic partnerships between various vegan meat-producing start-ups and prominent food manufacturers are acting as another major growth-inducing factor. Some of the other factors driving the market growth include rising consumer expenditure on food and product premiumization offered by key industry players in the market.

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Key Market Segmentation:

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the top plant-based meat companies are being Amy’s Kitchen, Inc., Beyond Meat, Boca Foods Company (Kraft Foods, Inc.), Garden Protein International (Conagra Brands, Inc.), Impossible Foods, Inc., Maple Leaf Foods, MorningStar Farms (Kellogg Na Co.), Quorn Foods, The Vegetarian Butcher, and Vbites Food Limited.

Breakup by Product Type:

·         Burger Patties

·         Sausages

·         Nuggets and Strips

·         Ground Meat

·         Meatballs

·         Others

Breakup by Source:

·         Soy

·         Wheat

·         Peas

·         Other

Breakup by Meat Type:

·         Chicken

·         Beef

·         Pork

·         Other

Breakup by Distribution Channel:

·         Restaurants and Catering Industry

·         Supermarkets and Hypermarkets

·         Convenience and Specialty Stores

·         Online Retail

Breakup by Region:

·         North America (United States, Canada)

·         Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

·         Europe (Germany, France, United Kingdom, Italy, Spain, Others)

·         Latin America (Brazil, Mexico, Others)

·         Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

·         Market Performance (2015-2020)

·         Market Outlook (2021-2026)

·         Porter’s Five Forces Analysis

·         Market Drivers and Success Factors

·         SWOT Analysis

·         Value Chain

·         Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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