Plant Based Meat Alternative Market Share, Size and Forecast Report, 2022 to 2030

Plant Based Meat Alternative Market Overview

The report is titled as ‘Plant Based Meat Alternative Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual frameworks, analytical approaches of the Plant Based Meat Alternative market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market.

The plant-based meat alternative market is estimated to reach at a value of US$ 7.4 Bn by the end of 2022 and expected to reach at a value of US$ 19.8 Bn by 2030 with a significant CAGR of 13.2%.

Plant Based Meat Alternative Introduction

For the last decade, there has been roaring interest in the evolving idea and development of cell-based and plant-based alternatives to ranched meat. Even though the idea of plant-based meat alternatives is by and large encouraged due to increased concerns towards environment, animal welfare, as well as, in some instances, public health issues associated with ranched meat production and consumption.

Bringing into the open, plant-based meat has been around for a long time now—it has considerably become a way out for all vegans and vegetarians to fulfill their meat cravings without deceiving their cruelty-free and environment-friendly diet. The plant-based meat or vegan meat is basically meat alternatives developed using meat substitutes that have the similar texture, taste, appearance and flavor as meat, but without causing any animal cruelty or any health problems.

The growing concerns towards animal cruelty as well as increased awareness regarding harmful impact that ranched meat leaves on environment is primarily driving the demand of plant-based meat alternatives across the markets. In addition to that, several health benefits offered by the plant-based meat alternatives including no antibiotics, no cholesterol, and less saturated fats is further projected to accelerate the demand of plant-based meat all around the world. Therefore, the global plant-based meat alternatives market is projected to grow significantly over the years.

Plant Based Meat Alternative Market Segmentation

The plant-based meat alternative market is segmented on the basis of ingredients, alternative, end products, technology, storage, and region.

By Ingredients

Proteins

Soy Protein

Pea Protein

Wheat Gluten

Legume proteins

Rapeseed, sunflower and other seed proteins

Others

Binders and Texturizing Agents

Xanthan Gum

Carrageenan

Methylcellulose

Locust Bean Gum

Calcium Alginate

Others

Fat, Oil and Oil Substitutes

Flavour and Colouring Agents

By Alternative

Beef Alternative

Chicken Alternative

Pork Alternative

Seafood Alternative

Egg Alternative

By End Products

Tofu

Burgers

Sausages

Patties

Nuggets, Tenders & Cutlets

Grounds

Steaks

Chicken Like Blocks

Others

By Technology

Extrusion

Shearing

Spinning

Freeze Alignment

By Storage

Refrigerated

Frozen

Shelf-stable

By Region

North America

Latin America

Europe

Asia Pacific

Middle East

Africa

Plant Based Meat Alternative Market Key Players

Some of the key participating players in plant-based meat alternative market are:

Impossible Foods

Kraft Heinz

Conagra Brands, Inc.

Beyond Meat

Eat Just, Inc.

Maple Leaf Foods

The Vegetarian Butcher

Gardein Protein International

Morningstar Farms

Quorn Foods

Amy’s Kitchen

Tofurky

Gold&Green Foods Ltd.

Sunfed

VBites Food Limited

Alpha Foods

Planterra Foods

Before the Butcher

No Evil Foods

Like Meat

The Meatless Farm Co.

Hooray Foods

Yves Veggie Cuisine

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product developments and launches

Global Food Industry Outlook

Global Demand for Plant Based Food

Plant Based Meat Alternative Adoption Rate, by Alternative

Top Companies Historical Growth Rate

Pricing Impact

Impact of Regulations

Advantages of Plant Based Meat Alternative

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s product sales, previous growth rates and market expansion plans are considered to generate market share in the market.

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