The taste is the top driver of consumer food choice. The global population is projected to reach xx Bn billion by 2029, which will increase the demand for plant-based meat 70%. An increase in awareness about Veganuary and the fact that many retailers have rapidly expanded their shelf space and own label innovative product development for plant-based products are expected to drive the growth in the market.
Plant-based Meat Market was valued US$ 4.9 Bn in 2021 and is expected to reach US$ 13.95 Bn by 2029, at a CAGR of 13.98 % during a forecast period.
Plant-based Meat Market overview:
The Plant-based Meat market's competitive landscape comprises information about rivals. A firm overview, financials, revenue produced, market potential, R&D investment, new market efforts, geographical presence, business strengths and weaknesses, product launch, and application domination are among the topics covered. The following information is only relevant to the organization's focus on the Plant-based Meat market.
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Plant-based Meat Market scope:
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). To create percentage splits, market shares, and segment breakdowns, weights based on usage rate and average sale price are applied to each location. The percentage acceptance or usage of the given market Size in the relevant area or nation determines the country-wise segmentation of the main market and its sub-segments.
Segmentation:
Various governments are taking steps to boost growth in the market. For instance, in 2021, the Canadian government announced an investment of US $150 Mn for the country plant protein industry. Also, the German government is financing US$ 78 Mn in research to make plant-based alternatives more meat-like in texture. Plant-based meat products are witnessed as healthy alternatives to meat counterparts, which enabling consumers to enjoy burgers and nuggets guilt-free. However, despite some of the improvements introduced in the taste and variety of plant-based meat products, it remains a barrier to regular consumption by core meat-eaters.
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Key Players: Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers' annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data. The following are the key players of the Plant-based Meat market-
• Beyond Meat
• Impossible Food Inc.
• Maple Leaf Foods
• The Vegetarian Butcher
• Amy’s Kitchen
• Tofurky
• Gold&Green Foods Ltd.
• Sunfed
• VBites Foods Limited
• Gardein Protein International
• Morningstar Farms
• Quorn Foods
• Conagra, Inc.
Regional Analysis:
Individual market influencing components and changes in market rules that affect current and future market trends are also investigated in the geographical component of the research. Some of the factors used to forecast market scenarios for various countries include downstream and upstream value chain analysis, technological trends, Porter's five forces analysis, and case studies.
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COVID-19 Impact Analysis on Plant-based Meat Market: Furthermore, the research assesses the impact of COVID-19 on the Plant-based Meat market. The fundamental purpose of this research is to help users understand the market in terms of definition, segmentation, market potential, key trends, and difficulties that the industry confronts across major regions. The paper provides a microeconomic and macroeconomic analysis of the overall impact of COVID-19 on the Plant-based Meat Market. The report focuses on market share and size, clearly demonstrating the pandemic's influence on the worldwide Plant-based Meat Market in the next years.
Key Questions Answered in the Plant-based Meat Market Report are:
- What will be the Plant-based Meat market's CAGR throughout the projected period (2021-2027)?
- Which market category emerged as the market leader in the Plant-based Meat industry?
- Who are the key players in the Plant-based Meat market?
- What important trends in the Plant-based Meat industry are anticipated to develop throughout the forecast period?
- How big will the Plant-based Meat market be in 2027?
- In 2020, which business segment had the highest proportion of the Plant-based Meat market?
