Plant-based Meat Market Size, Trends, Opportunities, and Leading Players

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• Plant-based Meat Market Size, Trends,
  Opportunities, and Leading Players
• Plant-based meat refers to food products
  that resemble traditional animal meat in
  taste, texture, and appearance but are made
  entirely from plant-based ingredients. These
  products are designed to mimic the sensory
  experience of consuming meat without using
  animal-derived ingredients. Common sources
  for plant-based meat include soy, wheat,
  peas, mushrooms, and other vegetables,
  which are often processed and combined with
  various flavourings and binders to create
  products like burgers, sausages, nuggets, and
  more. Plant-based meat has gained popularity due
  to environmental, ethical, and health
  concerns associated with traditional meat
  production, as well as the increasing demand for
  vegetarian and vegan alternatives.
• The global plant-based meat market is
  estimated to be valued at USD 7.9 billion
  in 2022. It is projected to reach USD 15.7
  billion by 2027, with a CAGR of 14.7, in terms
  of value between 2022 and 2027.
• Plant-based Meat Market Trends
• Here are some of the plant-based meat market
  trends
• Increasing Health Consciousness With growing
  awareness about the health benefits of
  plant-based diets, more consumers are opting
  for plant-based meat alternatives as they
  seek healthier protein sources. Plant-based
  meats are often perceived as lower in
  saturated fats and cholesterol compared to
  traditional meat products.
• Environmental Concerns Concerns about
  the environmental impact of conventional
  meat production, including deforestation,
  greenhouse gas emissions, and water usage,
  have led consumers to explore plant-based
  alternatives as a more sustainable option. Many
  consumers are motivated by the desire to reduce
  their carbon footprint and mitigate climate
  change.
• Expansion of Product Offerings The
  plant-based meat market has witnessed a
  surge in product innovation and
  variety. Companies are constantly introducing
  new plant-based meat products, ranging from
  burgers and sausages to chicken nuggets and
  seafood alternatives. This expanded product
  range caters to diverse consumer
  preferences and dietary requirements.
• Improved Taste and Texture Advancements
  in food technology have enabled
  manufacturers to develop plant-based meat
  products that closely mimic the taste,
  texture, and mouthfeel of traditional meat.
  Enhanced flavor profiles and realistic
  textures have helped overcome barriers to
  adoption among consumers who were
  previously skeptical about plant-based
  alternatives.

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• Retail and Foodservice Adoption
  Plant-based meat products are
  increasingly available in mainstream retail
  outlets, restaurants, and fast-food chains.
  The growing presence of plant-based options
  on menus and grocery store shelves
  reflects increasing consumer demand
  and acceptance. Collaboration between food
  manufacturers and foodservice providers has
  facilitated broader accessibility and visibility
  of plant-based meat products.
• Celebrity Endorsements and Media
  Coverage Endorsements from celebrities,
  influencers, and prominent figures in the health
  and environmental advocacy space have
  contributed to the mainstream acceptance of
  plant- based diets and products. Media coverage
  highlighting the benefits of plant- based eating
  and the ethical considerations surrounding
  animal agriculture has further fueled consumer
  interest in plant-based meat alternatives.
• Investment and Industry Growth The
  plant-based meat market has attracted
  significant investment from both traditional
  food companies and venture capital firms.
  This influx of capital has supported the
  expansion of production capacity, research
  and development initiatives, and marketing
  efforts within the plant-based meat
  industry. As a result, the market is
  experiencing rapid growth and heightened
  competition among market players.
• Plant-based Meat Market Opportunities Increase
  in consumers focus on meat alternatives
• Various food products such as meat patties
  and sausages are being replaced by
  plant-based/plant-infused meat products,
  considering the growing health awareness among
  consumers, which is expected to drive
  demand for plant-based meat products.
  According to The Food Science and Health Database
  Organization, in 2018, 22 million UK citizens
  now identify as being a flexitarian, viewed not
  as a fad diet, but instead, a permanent
  lifestyle choice, notably most popular among
  highly influential millennials. Thus, the
  increasing vegan and flexitarian population is a
  big opportunity for plant-based meat
  manufacturers in the industry during the forecast
  period.
• The food retail segment among distribution
  channels is estimated to have the largest
  market
• Based on the distribution channel, the food
  retail segment is estimated to account for
  the largest share of the plant-based meat
  market in 2022. Food retail refers to
  operating retail, supermarkets, hypermarket
  stores, and other stores where various
  products, such as grocery items, vegetables,
  uncooked meat, and frozen products, are made
  available to consumers. The distribution channel
  is already popular among consumers worldwide due
  to the wide availability of various products.
  Therefore, this distribution channel is being
  used by established plant-based meat
  companies and

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• startups to increase the penetration of
  their products in the market, making it
  the largest segment during the forecast period in
  the plant-based meat market.
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• North America is the fastest-growing region
  in plant based meat market.
• North America is the fastest-growing region,
  with a significant CAGR in the plant-
  based meat market. For American consumers, meat
  is a very prominent part of their diets.
  However, as many researchers highlighted the
  health risks related to the consumption of
  red meat, consumers are increasingly
  shifting toward plant-based diets as they
  are a healthier option compared to animal
  meat. Many consumers in the region are
  adopting flexitarian lifestyles and incorporating
  plant-based foods into their daily diets. Along
  with this, the trend of veganism is gaining
  momentum in the region, which is further
  contributing to the growth of the plant-based
  meat market.
• Top Companies in Plant-based Meat Market
• Here are some of the plant-based meat market
  shares
• Beyond Meat (US)
• Kellogg Company (US)
• Impossible Foods Inc. (US)
• Maple Leaf Foods (Canada)
• Unilever (UK)
• Conagra Foods (US)

• Meat alternative manufacturers and suppliers
• Technology providers to meat alternative
  manufacturers
• Processed meat alternative manufacturers/
  suppliers
• Commercial Research and Development (RD)
  institutions and institutions
• Trade associations and industry bodies

financial
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• Government organizations, research organizations,
  and consulting firms
• Importers and exporters of meat substitutes
• Associations, regulatory bodies, and other
  industry-related bodies
• Food and Drug Administration (FDA)
• European Food Safety Agency (EFSA)
• Food Processing Suppliers Association (FPSA)
• Food Standards Australia New Zealand
• European Food Information Council (EUFIC)
• Good Food Institute (GFI)
• Plant-based Food Association (PBFA)
• Key Questions Addressed by the Plant-Based Meat
  Market Report
• What is plant-based meat?
• What are the main types of plant-based meat?
• Is plant-based meat good?
• What is the current size of the global
  plant-based meat market?
• Which are the leading plant based meat
  manufacturers in the USA?