Plant-Based Meat Market Segmentation by Source (Wheat, Soy, Pea, and Others); by Type (Chicken, Pork, Fish, Beef, and Others); by Product (Sausages, Strips, Burger Patties, Nuggets, Meatballs, and Others) – Global Demand Analysis & Opportunity Outlook 2030

Buy Now Report ID: 3155 | Published Date: Feb 09, 2023

Market Segmentation

Our in-depth analysis of the plant-based meat market includes the following segments:

By Source

  • Wheat
  • Soy
  • Pea
  • Others

By Type

  • Chicken
  • Pork
  • Fish
  • Beef
  • Others

By Product

  • Sausages
  • Strips
  • Burger Patties
  • Nuggets
  • Meatballs
  • Others

Growth Drivers

  • Rising Trend of Consuming Vegan Food Products
  • Increasing Investments for Producing Plant-Based Meat by Major Market Players


  • Negative Perception About the Taste of Plant-Based Meat

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Global Plant-Based Meat Market Regional Synopsis

On the basis of geographical analysis, the plant-based meat market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing adoption of healthy lifestyle in the region. Along with this, growing consumption of Tofu and Tempeh as staple foods in countries, namely Japan, China and South Korea is also anticipated to drive market growth in the region in the future. The Tofu industry in China generated a revenue of more than USD 25 billion in 2020. The growth of this market reached up to 6% by the end of the same year. Additionally, North America is projected to acquire the largest market share during the forecast period ascribing to the rising awareness about the risks of consuming contaminated meat products and strong presence of startups in the plant-based market.

The plant-based meat market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

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Top Featured Companies Dominating the Market

    • Impossible Foods Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Maple Leaf Foods
    • Beyond Meat, Inc.
    • Conagra, Inc.
    • Unilever UK Ltd
    • Kellogg NA Co.
    • Gold&Green Foods Ltd.
    • Amy's Kitchen, Inc.
    • VBites Food Limited
    • Marlow Foods Ltd.



In The News

  • January, 2021: Maple Leaf Foods is aiming to increase its plant protein production in the United States to meet the surging demand for tempeh. The 118,00 square food plant will be set up in the city of Indianapolis manned by a strong workforce of 115 employees.


Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Author Credits:  Anil Kumar, Ipsheeta Dash

Key Questions Answered in the Report

1) What are the major factors driving the growth of the plant-based meat market?

Ans: Rising trend of consuming vegan food products and increasing investments for producing plant-based meat by major market players are the major growth drivers for the market.

2) What would be the CAGR of plant-based meat market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~19% over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the plant-based meat market growth?

Ans: Negative perception about the taste of plant-based meat is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of plant-based meat market in future?

Ans: Asia Pacific will provide more business opportunities to the market on the back of rising adoption of healthy lifestyle in the region.

5) Who are the major players dominating the plant-based meat market?

Ans: The major players in the market are Maple Leaf Foods, Beyond Meat, Inc., Conagra, Inc., Unilever UK Ltd, Kellogg NA Co., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the plant-based meat market?

Ans: The market is segmented by source, type, product, and by region.

8) Which segment captures the largest market size in the source segment in the plant-based meat market?

Ans: The soy segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.

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