Selbyville, Delaware, June 04, 2020 (GLOBE NEWSWIRE) --
The U.S. plant-based meat market is projected to cross USD 4.15 billion by 2026, according to a new research report by Global Market Insights, Inc. Rising adoption of veganism owing to environmental & health concerns will escalate the demand for plant-based products, thus fostering overall market growth.
Soy crumbles have a significant resemblance to cooked ground beef with a fraction of the fat which makes them ideal for ground meat substitutes. U.S. soy-based meat market from ground meat surpassed USD 55 million in 2019. Soy meat is among the richest protein sources in plant-based products and offers various nutrients such as isoflavones, vitamin C and dietary fibre which contributes to weight management & digestive health. Growing adoption of healthy lifestyles among Gen Z consumers and increasing recommendations from scientists & health professionals to reduce meat consumption should stimulate soy segment of U.S. plant-based meat industry outlook.
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Textured pea proteins allow the preparation of appetizing meat substitutes without soy and wheat gluten which makes them ideal for consumers suffering from food allergies. The product is ideal for various products such as meatballs and tacos which increases its suitability as a ground beef substitute. U.S. pea-based meat market from beef substitutes is set to surpass USD 125 million by 2026. Pea plant-based meat offers texturizing properties, neutral taste, and rapid rehydration which allows them to emulate the fibrous bite and texture of meat products. Increasing consumer awareness of diets which offer higher sustainability than excess meat consumption should augment market growth of U.S. pea plant-based meat.
Some major findings of the U.S. plant-based meat market report include:
- The high similarity of seitan to meat in texture & appearance on cooking should boost the demand for wheat plant-based meat in the U.S.
- Increasing awareness for animal rights and reducing greenhouse gas emissions from the food industry will foster product demand.
- Some of the key industry players in U.S. plant-based meat market are Morningstar Farms, Beyond Meat, Impossible Foods, Maple Leaf Foods, Amy’s Kitchen and Pinnacle Foods.
- Market statistics for U.S. soy-based meat market was the highest and the sector is further anticipated to witness significant gains due to growing preference for plant-based proteins
- West region acquired significant share in the U.S. plant-based meat industry.
Browse key industry insights spread across 290 pages with 387 market data tables and 25 figures & charts from the report, “U.S. Plant-Based Meat Market Outlook By Source (Soy {By Product [Burger Patties, Strips & Nuggets, Meatballs, Sausage, Ground Meat], By Type [Chicken, Pork, Beef, Fish], By Distribution Channel [Grocery Stores, Food & Drink Specialty Stores, Convenience Stores, Online Retail, Restaurant], By Demographics [Gen Z, Millennials, Gen X, Baby Boomers]}, Wheat {By Product [Burger Patties, Ground Meat, Strips & Nuggets, Steaks, Sausage, Seitan], By Type [Chicken, Bacon, Beef], By Distribution Channel [Grocery Stores, Food & Drink Specialty Stores, Online Retail, Restaurant], By Demographics [Gen Z, Millennials, Gen X, Baby Boomers]}, Pea {By Product [Burger Patties, Ground Meat, Strips & Nuggets], By Type [Chicken, Fish, Bacon, Beef], By Distribution Channel [Grocery Stores, Convenience Stores, Food & Drink Specialty Stores, Online Retail, Restaurant], By Demographics [Gen Z, Millennials, Gen X, Baby Boomers ]},, Industry Analysis Report, Regional, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/us-plant-based-meat-market
The substantial rise in vegan restaurants and increasing efforts by restaurateurs to offer innovative vegan dishes should boost the plant based-meat market in Southern U.S. Retail stores in the region are increasing their offering of vegan products to offer a convenient option to consumers following a hectic lifestyle. Southern U.S. plant-based meat market is poised register substantial CAGR of over 26% through 2026. Increasing efforts by retail stores to offer a variety of health products such as fresh produce, diary alternatives and fake meats to a diverse consumer range comprising vegans & meat eaters should boost business demand.
Manufacturers are engaged in developing new products along with strategic expansion activities including acquisitions, partnerships and R & D activities in order to improve their market share and compete with major players. For instance, fake meat manufacturer Impossible Foods entered into a strategic partnership with entertainment group Disney in February 2020 which allows the company to offer its products in cruises & theme parks. This partnership indicates that tourism & events industries are following the trend of major restaurants in offering plant-based meat.
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Browse Related Reports:
Plant Based Meat Market Size By Source (Soy, Wheat, Pea), Industry Analysis Report, Regional, Application Development, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
https://www.gminsights.com/industry-analysis/plant-based-meat-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.