Plant Based Meat Alternative Market
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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
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
Chicken Alternative
Pork Alternative
Seafood Alternative
Egg Alternative
By End Products
Burgers
Sausages
Patties
Nuggets, Tenders & Cutlets
Grounds
Steaks
Chicken Like Blocks
Others
By Technology
Shearing
Spinning
Freeze Alignment
By Storage
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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