Global Plant-Based Meat Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, And Growth Forecast To 2028

Global Plant-Based Meat Market: Overview

Plant-based meat is treated like an animal meat substitute which is mainly made of soy or gluten. Plant-based meat has approximately the same taste, protein content, appearance, along with the texture of a related food made from meat, fish, or poultry. Plant-based meat products help to reduce calorie intake by 20% and also reduces the risk of heart disease and other health issues.

Global Plant-Based Meat Market: Dynamics

Increasing health awareness among the consumers regarding meat adulteration coupled with changing food habits are the major factors expected to drive growth of the global plant-based meat market. Moreover, adulteration in meat can cause diarrhea, abdominal cramps, muscle pain, fever, and brain disorder, which projected to boost growth of plant-based meat market. In addition, gradually shifting diet to vegetarian or organic products along with environmental concerns are some factors expected to drive plant-based meat market growth.

A recent trend observed in target market is key players are focusing to develop new products to cater increasing demand of meat substitutes. In July 2018, Beyond Meat launched plant based meat burgers which are similar to the meat-based burger in look, smell, as well as taste.

However, some people allergic to plant-based sources such as soy and wheat and perception of taste are some factors that may restrain growth of the global market to a certain extent.

Global Plant-Based Meat Market: Segment Analysis

Among the type segments, the tofu segment is expected to account for significant revenue share in the global market.

Among the source segments, the soy-based segment is estimated to account for major revenue share and is estimated to maintain its dominance over the forecast period.

Among the end user segments, the household segment is anticipated to register substantial growth rate over the forecast period.

Among the distribution channel segments, the indirect segment is projected to register a significant growth rate over the forecast period.

Global Plant-Based Meat Market: Regional Analysis

The Asia Pacific plant-based meat market is estimated to account for significant share in the global market in terms of revenue in 2018. This is attributed to increasing popularity of plant-based meat products. In addition, Tofu and Tempeh considered as a staple food especially in China, India, Japan, and Korea, giving a new way for growth of the plant-based meat market. Moreover, rapid urbanization, industrialization, economic growth, and increasing purchasing power along with increasing awareness regarding health benefits associated with vegan products are some factors estimated to drive growth of the market.

Moreover, the markets in North America, Europe, Latin America, and Middle East & Africa are expected to witness significant growth over the forecast period.

Global Plant-Based Market Segmentation:

Segmentation by Type:

• Tofu
• Mushroom
• Tempeh
• Quorn
• Seitan

Segmentation by Source:

• Gluten-based
• Soy-based
• Mycoprotein

Segmentation by End User:

• Households
• Food Industry

Segmentation by Distribution Channel:

• Direct
• Indirect

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa