Dublin, Jan. 21, 2025 (GLOBE NEWSWIRE) -- The "Plant Based Meat Market by Source, Meat Type, Product Type, Distribution Channel, Storage, Region and Company Analysis 2025-2033" report has been added to ResearchAndMarkets.com's offering.
Plant Based Meat Market is expected to reach US$ 39.28 billion in 2033 from US$ 8.77 billion in 2024, with a CAGR of 18.12% from 2025 to 2033
Some of the main factors propelling the market growth nationwide are the growing popularity of sustainable food options due to growing consumer concerns about animal welfare and ethics, the widespread availability of plant-based meat through online platforms, the expanding culinary diversity.
Due to rising consumer demand and health trends, North America is leading the world in the growth of the plant-based meat business. Europe, motivated by worries about sustainability, comes in second. As veganism and nutritional habits change, the Asia Pacific region is also growing quickly, and new markets are becoming more interested.
The Growing Demand for Sustainable Environmental Practices
According to a U.S. survey, 67% of customers were aware of how food production contributes to climate change, and 71% of consumers expressed concern about it. Furthermore, compared to animal meat, 47% of respondents said they preferred plant-based meat since it has a far smaller environmental impact and produces fewer carbon dioxide emissions. As a result, the global adoption of sustainable practices is also having a favorable impact on consumers' purchasing decisions.
Additionally, one study substituted plant-based protein sources for ground beef using life cycle assessment (LCA). At the national level, the replacement of plant-based burgers for 25%, 10%, and 50% of ground beef led to decreases in land occupation, water usage, and annual greenhouse gas emissions. The future of the plant-based meat sector will be strengthened as a result.
The Growing Concern for Animal Welfare and Ethics
Concerns about the treatment and living circumstances of animals in industrial farming systems are becoming more widespread, and this is having a major impact on growth. People are now looking for alternatives that don't support these kinds of activities as a result of this. Additionally, governments everywhere are encouraging the usage of labeling. For instance, the survey found that 42% of respondents believed that labels like ""organic,"" ""natural,"" and ""locally produced"" had a favorable effect on climate change.
The Food Safety and Standards Authority of India (FSSAI) is also establishing a regulatory framework for the approval of cell-based goods, such as farmed meat and shellfish, according to the Good Food Institute. Additionally, BECA, a cancer treatment group, is advocating for plant-based meat substitutes in place of meat due to the rising cancer mortality rate, which accounts for 1.9 million fatalities annually.
The Increasing Number of People Aware of Their Health
The use of plant-based meat is being increased by the growing flexitarian and vegetarian community, which includes approximately 4.98 million vegetarians globally, who want to reduce their risk of developing chronic illnesses. Furthermore, 3.8 million of them came from India, a nation where people typically favor eating meat-like items as a healthier substitute for meat. Another important element driving growth is the increasing number of new start-ups, such as Fazenda Futuro, KBW Ventures, Vbites, and others, as well as the growing expatriate population in many countries. These factors are drawing buyers to plant-based meat.
Challenges in the Plant Based Meat Market
Customer Acceptance
Customer acceptability is one of the main obstacles facing the market for plant-based meat. Even if customers are becoming more interested in plant-based solutions, some are reluctant to fully adopt them, particularly those who are used to traditional animal meals. To appeal to a wider consumer base, plant-based meat must be on par with or better than animal goods in terms of flavor, texture, and overall experience. Widespread acceptance depends on overcoming mistrust and changing consumer behavior.
Production Cost
Plant-based meat's high production costs continue to be a problem. Despite increased demand, plant-based meat substitutes frequently call for costly ingredients, sophisticated manufacturing techniques, and cutting-edge technology. Prices are greater as a result than for traditional beef. Producers must strive to lower costs through economies of scale, more effective manufacturing processes, and ingredient innovations if they want to capture market share. In order to make plant-based meats more affordable and competitive with conventional meat products, lower prices are essential.
The main source of plant-based meat that dominates the worldwide market is soy.
With a high protein content of about 35% and a cost advantage, soybeans are an important player in the plant-based meat market and are essential for simulating animal flesh. Different meat-like textures are made possible by the exact intentional qualities of soy protein isolate and concentrate. From protein isolates to tofu, the processing diversity allows for creative freedom in product innovation. A well-established global supply network makes cost-effective sourcing possible thanks to soy. Its long consumption in many cultures, particularly in Asia, encourages consumer familiarity and popularity, which facilitates the uptake of plant-based meat substitutes made from soy.
Beef-flavored and textured plant-based meats are expanding in the global market.
With the goal of gaining a piece of the lucrative traditional meat market, plant-based beef alternatives use technology to create more palatable textures and flavors that appeal to consumers who are ethically, environmentally, and health-conscious. These substitutes, which mimic the many culinary uses of beef, satisfy a range of preferences and tastes, including grill enthusiasts.
Plant-based alternatives maintain ties while being consistent with individual values, acknowledging the emotional and cultural relevance of pig consumption in some communities. In order to promote the flavor, texture, and environmental advantages of plant-based beef substitutes, marketers work with chefs, restaurants, and influencers through strategic psychological pricing, branding with well-known phrases, and focused advertising campaigns.
Burger patties' familiarity, convenience, adaptability, and market dynamics all work together to guarantee its dominance for the foreseeable future.
Plant-based burgers, a universally liked and convenient format, ease consumer adoption by offering an acquainted experience with reduced perceived threat. The flexible burger patties, adaptable to diverse cooking techniques and customizable with numerous toppings, sauces, and condiments, cater to various flavor alternatives. Defined portion sizes provide nutritional transparency, appealing to health-aware individuals and people dealing with calorie intake.
The efficient and cost-effective manufacturing of burger patties allows competitive pricing, fostering broader accessibility and market boom. Their integration into restaurant and fast-food menus normalizes plant-based options, making them widely available. Leveraging acquainted burger terminology and imagery complements branding and marketing efforts, growing a recognizable and relatable class in the plant-based meat market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value (USD) in 2024 | $8.77 Billion |
| Forecasted Market Value (USD) by 2033 | $39.28 Billion |
| Compound Annual Growth Rate | 18.1% |
| Regions Covered | Global |
Company Analysis: Overview, Recent Developments, Revenues
- Beyond Meat
- Conagra Brands
- Maple Leaf Foods Inc,
- Tyson Foods Inc,
- Kellanavo
- Archer Daniels Midland,
- US Foods Holding
- Hormel Foods Corporation
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Plant Based Meat Market
6. Market Share
6.1 By Source
6.2 By Meat Type
6.3 By Product Type
6.4 By Distribution Channel
6.5 By Storage
6.6 By Countries
7. Source
7.1 Soy
7.2 Pea
7.3 Wheat
7.4 Others
8. Meat Type
8.1 Chicken
8.2 Pork
8.3 Beef
8.4 Fish
8.5 Others
9. Product Type
9.1 Burger and Patties
9.2 Sausages
9.3 Nuggets and Strips
9.4 Ground Meat
9.5 Meatballs
9.6 Others
10. Distribution Channel
10.1 Food Retail
10.2 Food Service
10.3 E-Commerce
11. Storage
11.1 Refrigerated Plant Based Meat
11.2 Frozen Plant Based Meat
11.3 Shelf Stable Plant Based Meat
12. Countries
12.1 North America
12.1.1 United States
12.1.2 Canada
12.2 Europe
12.2.1 France
12.2.2 Germany
12.2.3 Italy
12.2.4 Spain
12.2.5 United Kingdom
12.2.6 Belgium
12.2.7 Netherland
12.2.8 Turkey
12.3 Asia Pacific
12.3.1 China
12.3.2 Japan
12.3.3 India
12.3.4 South Korea
12.3.5 Thailand
12.3.6 Malaysia
12.3.7 Indonesia
12.3.8 Australia
12.3.9 New Zealand
12.4 Latin America
12.4.1 Brazil
12.4.2 Mexico
12.4.3 Argentina
12.5 Middle East & Africa
12.5.1 Saudi Arabia
12.5.2 UAE
12.5.3 South Africa
12.6 Rest of the World
13. Porter's Five Forces Analysis
14. SWOT Analysis
15. Key Players Analysis
For more information about this report visit https://www.researchandmarkets.com/r/ry04w8
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