Plant-Based Meat Market Size, Share, Growth Analysis, By Source(Soy, pea), By End User(Retail and HORECA (Hotel/Restaurant/Café)) - Industry Forecast 2024-2031

Global Plant-Based Meat Market Drivers

Rising health and environmental concerns

• The increasing awareness about the adverse effects of consuming meat on human health and the environment is driving the demand for plant-based meat products. Plant-based meat products are perceived as healthier and more sustainable alternatives to animal meat, which is driving their adoption among health-conscious and environmentally-aware consumers.

Growing popularity of vegan and flexitarian diets

• Rising popularity of vegan and flexitarian diets is another key driver of the global plant-based meat market. Consumers are increasingly seeking out meatless alternatives as part of their efforts to reduce their meat intake for ethical, health, or environmental reasons. This trend is creating a significant opportunity for plant-based meat manufacturers to innovate and cater to the growing demand for meat-free products.

Global Plant-Based Meat Market Restraints

Limited availability and high cost

• The availability of plant-based meat products is still limited compared to traditional meat products, which can limit their adoption among consumers. Additionally, plant-based meat products tend to be more expensive than traditional meat products, which can be a significant barrier for price-sensitive consumers.

Taste and texture limitations

• Despite significant improvements in taste and texture, plant-based meat products still face limitations in replicating the taste and texture of traditional meat products. This can be a significant barrier for consumers who are accustomed to the taste and texture of traditional meat and may not be willing to switch to plant-based alternatives.