Global Plant Based-Meat Market Overview, 2022-2027

Plant-based meat is an animal meat-like substance. Vegan meat, plant-based meat, meat substitute, meat analogs, imitation meat, meat alternative, vegetarian meat, more pejoratively faux meat, or fake meat are some of the more common names of plant-based meat. Plant-based meat is designed to mimic the aesthetic qualities (taste, texture, and appearance) and the chemical characteristics of particular types of meat. In general, it is a dish made entirely of vegetarian ingredients, often without the use of animal products like dairy. Plant-based meat is a popular substitute for consumers who have gone vegan or vegetarian but still miss the taste of meat in their mouths. Additionally, it is also highly versatile and high in fiber content. When fried, it has a distinct, meat-like texture that pulls apart similarly to pulled chicken. It's a guilt-free, organic, and gluten-free alternative to meat, with GMOs kept to a minimum. Plant-based meats are low in calories, fat, and carbohydrates, making them suitable for health-conscious consumers. According to the research report "Global Plant Based Meat Products Overview, 2026," published by Bonafide Research, the plant-based meat products market is proliferating. The Plant-based Meat market is anticipated to showcase significant growth in the forecast period due to the rising demand for multifunctional protein across the regions at a CAGR of 14.50%. With the rise in awareness about the health benefits associated with the consumption of Plant-based meat, most athletes are now switching to vegan diets. A vegan diet fits nicely into an athlete's training plan. Since Plant-based meat is highly processed, it cannot qualify as a natural product. The demographic that exhibits a willingness to opt for Plant-based meat also displays an affinity for natural products; hence, a tendency to opt out of Plant-based meat is a possibility. This acts as a significant drawback to the market. With dairy, fish, meat, poultry, and other animal products detached from the equation, a vegan diet tends to have a higher content of carbohydrates, the primary fuel for athletes. Good protein sources for vegan athletes include quinoa, brown rice, protein-enriched pasta, nuts, tofu, soymilk, tempeh, peanut butter, beans, and peas, hence, driving the overall Plant-based meat market.

Positive consumer shift towards social media and information technology has raised consumer awareness about how their consumption impacts the environment. Animal cruelty and health issues influence consumers' buying decisions, especially in developed regions, such as North America and Europe. Also, there has been a growing awareness about the link between meat consumption and non-communicable diseases, directly promoting plant-based meat. In an attempt to cut the risks of such illnesses and obesity, consumers are cutting off meat from their diets, which will gradually propel the plant-based meat market. Plant-based meat is perfect for catering to the indulgent needs of these consumers. Other consumer attitudes, such as going against animal cruelty, reducing carbon emissions, and conserving water, will culminate in the high consumption of Plant-based meat in the future. Besides, a spurt in population growth is also likely to create the need for Plant-based meat. Furthermore, due to a broader range of product availability, improved product production and innovation in plant-based protein products, and a wider range of viable alternatives and substitutes, acceptance of plant-based foods and beverages has increased in recent years. Europe is anticipated to gain high traction in the plant-based meat market as the vegan and vegetarian populations are rising exponentially. The rising obesity in the region is also prominent and provides enormous market opportunities. Additionally, the increasing awareness among the people regarding plant-based meat's health benefits and sustainability towards the environment is creating a massive opportunity for the market in the region. Major Companies present in the market Beyond Meat, Impossible Foods Inc., Maple Leaf Foods, Quorn Foods, Amy’s Kitchen (US), Tyson Foods Inc., Nestle S.A., Kraft Heinz Company, Unilever (The Vegetarian Butcher), Kellogg NA Co., Conagra, Inc.

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Manmayi Raval

Research Consultant

Considered in this report • Geography: Global • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 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 • Europe • South America • Asia-Pacific • Middle-East & Africa

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By Sources in the report • Soy • Pea • Wheat • Others By products in the report • Burger Pattie • Sausages • Strips & Nuggets • Meatballs • Others By Type in the report • Beef • Chicken • Pork • Fish • Others (lamb, turkey) By End-User in the report • Retail • HoReCa The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to understand the market and list the companies in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephonic interviews with the leading players about how the market is functioning and then performing trade calls with dealers and distributors. Post this; we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have preliminary data with us, we have to start verifying the details obtained from secondary sources. Intended audience This report can be helpful to industry consultants, manufacturers, suppliers, associations & organizations related to the plant-based industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.