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Plant-based Meat Market Size & Share, by Source (Wheat, Soy, Pea); Type (Chicken, Pork, Fish, Beef); Product (Sausages, Strips, Burger Patties, Nuggets, Meatballs) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2025-2037

  • Report ID: 3155
  • Published Date: Dec 26, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2025-2037

Plant-based Meat Market size was valued at USD 8.66 billion in 2024 and is expected to reach USD 82.2 billion by 2037, registering around 18.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of plant-based meat is assessed at USD 10.05 billion.

The growth of the market can be attributed to the growing trend of veganism among consumers, increasing consciousness about animal rights and rising awareness about the health benefits of plant-based meat. It is evaluated that more than 7.5 million human lives can be saved by the end of 2050 if the world went vegan. Furthermore, it can also avoid climate damages worth more than USD 1.3 trillion. High investments by major food industry players for the production of plant-based meat products is another factor projected to boost market growth in the near future. In addition to these, growing emphasis of companies to increase sales by innovative marketing strategies and correct positioning is expected to offer ample growth opportunities to the market in the forthcoming years.

Global-Plant-Based-Meat-Market-Overview
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Growth Drivers

  • Rising Trend of Consuming Vegan Food Products

  • Increasing Investments for Producing Plant-Based Meat by Major Market Players

Challenges

  • Negative Perception About the Taste of Plant-Based Meat

Plant-based Meat Market: Key Insights

Report Attribute Details

Base Year

2024

Forecast Year

2025-2037

CAGR

18.9%

Base Year Market Size (2024)

USD 8.66 billion

Forecast Year Market Size (2037)

USD 82.2 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Plant-based Meat Segmentation

The market is segmented by source into wheat, soy, pea, and others, out of which, the soy segment is anticipated to hold the largest share in the plant-based meat market on account of high production of soybean, low formulation costs and low carbon footprint of these products than dairy-based and other animal food products. For instance, the United States alone produces over 105 million tons of soybean every year, followed by Brazil, producing over 95 million tons of the crop. Moreover, the segment for pea-based meat is estimated to grow with the highest CAGR during the forecast period, which can be credited to the rising demand for these products as they are lactose and gluten free. Furthermore, on the basis of type, the chicken segment is assessed to occupy the largest market share. This can be accounted to the fact that chicken is the major ingredient of conventional meat industry in several products such as patties and nuggets.  

Our in-depth analysis of the global 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
Vishnu Nair
Vishnu Nair
Head - Global Business Development

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Plant-Based Meat Industry - Regional Synopsis

APAC Market Statistics

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. Asia Pacific industry is anticipated to account for largest revenue share by 2037, 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.

North America Market Analysis

 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.

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Companies Dominating the Plant-based Meat Landscape

    • 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.

Recent Developments

  • 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.
  • Report ID: 3155
  • Published Date: Dec 26, 2024
  • Report Format: PDF, PPT
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Frequently Asked Questions (FAQ)

In the year 2025, the industry size of plant-based meat is assessed at USD 10.05 billion.

Plant-based Meat Market size was valued at USD 8.66 billion in 2024 and is expected to reach USD 82.2 billion by 2037, registering around 18.9% CAGR during the forecast period i.e., between 2025-2037.

Asia Pacific industry is anticipated to account for largest revenue share by 2037, on the back of increasing adoption of healthy lifestyle in the region.

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

Plant-Based Meat Market Report Scope

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Dhruv Bhatia
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