Café)) - Industry Forecast 2024-2031

Report ID: SQMIG30I2310 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 62 | Figures: 75

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Global Plant-Based Meat Market size was valued at USD 4.39 billion in 2022 and is poised to grow from USD 5.48 billion in 2023 to USD 32.47 billion by 2031, at a CAGR of 24.9% during the forecast period (2024-2031).

Global Plant-Based Meat Market is becoming increasingly competitive as more companies enter the space and existing players expand their offerings. The market is expected to grow significantly in the coming years, driven by factors such as increasing health and environmental awareness, changing dietary preferences, and the rise of flexitarianism. These are just some of the many companies competing in the global plant-based meat market, and the competition is expected to continue to intensify as the market grows. Factors such as product innovation, pricing, distribution, and marketing strategies will play a crucial role in determining which companies emerge as leaders in this space. 'Beyond Meat (US)', 'Impossible Foods (US)', 'Nestle (Switzerland)', 'Tyson Foods (US)', 'Kellogg Company (US)', 'Maple Leaf Foods (Canada)', 'Conagra Brands (US)', 'The Vegetarian Butcher (Netherlands)', 'Quorn Foods (UK)', 'Tofurky (US)', 'Gardein (Canada)', 'Before the Butcher (US)', 'Lightlife Foods (US)', 'Alpha Foods (US)', 'Vivera (Netherlands)', 'The Meatless Farm Co (UK)', 'Ojah BV (Netherlands)', 'Hain Celestial Group (US)', 'Sunfed (New Zealand)', 'Sweet Earth Foods (US)'

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.

Product innovation and development: Plant-based meat manufacturers are investing heavily in research and development to create innovative products that replicate the taste, texture, and nutritional profile of traditional meat products. This trend is driving the development of new plant-based meat products that offer a more realistic meat-like experience for consumers.

North America dominated the global plant-based meat market, accounting for the largest share of the market revenue in 2021. This growth is attributed to the increasing consumer awareness of the risks associated with consuming contaminated meat products, along with the growing consumption of meatless meat products. Consumers in this region are increasingly concerned about the sustainability and safety of their food, which is driving the adoption of plant-based meat products.

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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

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