The plant-based meat market is estimated to be fast growing market as increasing number of consumers are demanding plant-based meat, either for medical reasons or as a healthy lifestyle. As a result, the demand for plant-based meat continues to expand. Additionally, continuous efforts in research & development by plant-based meat manufacturers, in terms of better aroma, texture, longer shelf life, and better nutritious profiles, is projected to escalate the growth of global plant-based meat market in the coming years.
The soy segment is projected to dominate the plant-based meat market during the forecast period. Soy is widely used as a base ingredient for plant-based pork, beef, and chicken products, owing to its high protein content and meat-like texture. The growing health concerns associated with the consumption of animal protein-sourced foods and adoption of flexitarian and vegetarian diets are expected to drive consumption of soy as a source in the global market. Impossible Foods offers soy-based burgers and is backed by a strong distribution network in the US.
The chicken segment is projected to dominate the plant-based meat market during the forecast period. Various sausages, nuggets, strips, and burgers have chicken as their major meat ingredient. Chicken flesh and eggs are loaded with animal protein, fats, and cholesterol.
Environmental hazards associated with the killing of animals is projected to drive the plant-based meat market in Asia Pacific. The raising of awareness through global animal welfare organizations such as PETA (People for the Ethical Treatment for Animals) has encouraged people to consider a meat-free diet. The Asia Pacific plant-based meat market is projected to be dominated by China.
Key market players include Impossible Foods (US), Beyond Meat (US), Garden Protein International (US), Morningstar Farms (US), Quorn Foods (UK), Amy’s Kitchen (US), Maple Leaf Foods (Canada), the Vegetarian Butcher (Netherlands), Tofurky (US), Gold&Green Foods (US), Sunfed (New Zealand), and VBites (UK).
Key Questions Addressed by the Report
· What are the new product areas the plant-based meat companies are exploring?
· Which are the key players in the plant-based meat market and how intense is the competition?
· What kind of competitors and stakeholders, such as plant-based meat companies, would be interested in this market? What will be their go-to-market strategy, and which emerging market will be of significant interest?
· How are the current R&D activities and M&A’s in the plant-based meat market projected to create a disrupting environment in the coming years?
· What will be the level of impact, on the revenues of stakeholders, of the benefits of plant-based meat to different stakeholders‒‒from rising revenue, environmental regulatory compliance, to sustainable profits for the suppliers?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1. Growing Vegan and Flexitarian Population Across the World
3.1.2. Rise in Awareness About the Awareness of the Health Benefits of Plant-based Meat Over Animal Meat
3.1.3. Growth in Government Initiatives Along With Significant Investments
3.1.4. Major Food Industry Pioneer Investing and Introducing Plant-based Meat Products
3.2.1. Population Allergic to Plant-based Meat Sources Such as Soy and Wheat
3.2.2. Perception of Taste
3.2.3. Genetically Modified (GM) Soybeans
3.3.1. An Alternative Solution to Meet the Tremendously Growing Demand for Animal Meat Products in the Future
3.3.2. Favorable Marketing and Correct Positioning of Plant-based Meat
4. Executive Summary
5. Plant-based Meat Market, By Source
6. Plant-based Meat Market, By Product
6.1. Burger Pattie
6.3. Strips & Nuggets
7. Plant-based Meat Market, By Type
8. Plant-based Meat Market, By Process
8.5. Freezing Systems
9. Plant-based Meat Market, By Region
9.1. North America
9.2.6. Rest of Europe
9.3. Asia Pacific
9.3.4. Australia & New Zealand
9.3.5. Rest of Asia Pacific
9.4. Rest of the World
9.4.1. South America
9.4.2. Middle East & Africa
10. Company Profiles
10.1. Beyond Meat
10.2. Impossible Food Inc.
10.3. Maple Leaf Foods
10.4. The Vegetarian Butcher
10.5. Gardein Protein International (Pinnacle Foods)
10.6. Morningstar Farms
10.7. Quorn Foods
10.8. Amy’s Kitchen
10.10. Gold&Green Foods Ltd.
10.12. VBites Foods Limited
11. Conclusion and Recommendations
12.2. Related Reports