Plant based meats often called as alternative meats are devoid of any animal product. Plant based meat products come in many varieties like burgers, meatballs, steaks, nuggets, sausages, fillets, and countless other versions of popular meat foods made from chicken, pork, beef, fish, lamb or turkey. The classic veggie burger, are made predominantly with vegetables and legumes. Thanks to technological advancements and creative cooking, use of proteins and extracts from plants such as peas, soy beans, or wheat, to truly mimic the taste, texture and appearance of animal meat.
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According to the research report “Global Plant-Based Meat Market Outlook, 2026″ published by Bonafide Research, the plant based meat products market is growing rapidly. Plant based meat products are healthier as compared to traditional meats. They are low in cholesterol and high in proteins and fiber. The growing health awareness, cruelty towards animals and environment has led to changing habit of consumers to shift from animal meat and products to plant based meat products.
Globally plant based meat product market is expected to grow with the CAGR of more than 14% by 2026. Europe is the major revenue generating region. Clear labelling can be a major driving force for this market. United States is leading the market by consumption and production of plant based meat products.
North America plant based meat product market is anticipated to hit the market size of more than USD 3211 Million by 2026. Unites States is the major revenue generating region, and is leading the market both by consumption and production of plant based meat products. Almost 9.7 million Americans are now plant based meat consumers. A key part of what makes vegan food so stimulating is the growing community of social media influencers advocating the lifestyle as part of their brand.
Plant based meat consumers have doubled from 1.3 million to the current estimated figure of 2.6 million, representing 3.2% of the European population. Europe plant-based meat market has shown a potential growth historically and is expected to cross the market size of USD 4523 Million by the forecasted period of 2026. United Kingdom is the major revenue generating region in Europe. A key part of what makes vegan food so stimulating is the growing community of social media influencers advocating the lifestyle as part of their brand.
Asia Pacific plant based meat market will show a strong growth in the forecasted period and will reach the market size of above 4000 Million by 2026. China is the major revenue generating region accounting for 50% revenue of Asia Pacific. A key part of what makes vegan food so stimulating is the growing community of social media influencers advocating the lifestyle as part of their brand.
Latin America plant-based meat market is anticipated to grow with the CAGR of more than 14% by the forecasted period of 2026. Brazil is the major revenue generating region of Latin America. A key part of what makes vegan food so stimulating is the growing community of social media influencers advocating the lifestyle as part of their brand.
Middle East & Africa plant based meat market has grown with the strong numbers and will continue to show the potential growth with the expected CAGR of more than 14.5% by the forecasted period of 2026. South Africa is the major revenue generating region of Middle East & Africa. A key part of what makes vegan food so stimulating is the growing community of social media influencers advocating the lifestyle as part of their brand.
The process of creating such realistic meaty products from plants might baffle some, one thing consumers can be certain about is that they are not made in the torturous way that its animal-based analogs are. Plant-based foods not only help consumers health, but also support the health of planet.
Plant based foods require fewer resources like land and water, rather than animal based foods. Close to 20% of the planet’s fresh water is used in the production of meat and dairy, and animal agriculture is a major driver of climate change, contributing around 14.5 percent of global greenhouse gas emissions. An animal farming is also not required each year.
According, to a 2018 University of Michigan study, commissioned by Beyond Meat, found that the Beyond Burger “generates 90% less greenhouse gas emissions, requires 46% less energy, has 99% less impact on water scarcity, and 93% less impact on land use than a ¼ pound of U.S. beef.” That’s a monumental difference!
During the COVID-19 pandemic, the food industry witnessed significant shifts, but, plant-based companies adapted and continued to launch new products and grow sales. Foodservice channel distribution was significantly impaired, and pantry stocking and panic buying led to a sharp increase in retail sales over the prior year. The COVID-19 pandemic, lockdowns, has encouraged consumers to order goods online and this, in turn, has boosted the online sales channels.
Major Companies present in the market
1. Amy’s kitchen
2. Beyond meat
3. Conagra (Pinnacle Foods)
4. Impossible food
5. Kellog (Morning star farms)
6. Kraft Heinz Company (Boca Burger)
7. Maple leaf, Nestle (Garden Gourmet)
9. Tayson (Raised and Rooted)
10. Unilever (The Vegetarian Butcher)
Considered in this report
• Geography: Global
• Base year: 2020
• Estimated year: 2021
• Forecast year: 2026
Aspects covered in this report
• Global plant based meat products market with its value and forecast along with its segments
• Region-wise plant based meat products market analysis
• Various drivers and challenges
• On-going trends and developments
• Five force models
• Top profiled companies
• Strategic recommendation
Regions covered in the report
• North America
• Latin America
• Middle-East & Africa
Types of meat products in the report
• Burger Pattie
• Strips & Nuggets
Table Of Content
1. Executive Summary
2. Report Methodology
3. Market Structure
3.1. Market Considerate
3.2. Market Definition
4. Global Plant Based Meat Product Market Outlook
4.1. Market Size by Value
4.2. Market Share
4.2.1. By Source
4.2.2. By End User
4.2.3. By Product
4.2.4. By Type
4.2.5. By Region
4.2.6. By Country
4.2.7. By Company
5. North America Plant Based Meat Product Market Outlook
5.1. Market Size by Value
5.2. Market Share
5.2.1. By Source
5.2.2. By End User
5.2.3. By Product
5.2.4. By Type
5.2.5. By Country
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