Dublin, Feb. 16, 2024 (GLOBE NEWSWIRE) -- The "Global Plant-based Meat Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Global Plant-Based Meat Market is forecasted to achieve significant growth, reaching an estimated value of US$ 23.81 Billion by the year 2030. The study provides an in-depth analysis of the industry trends, market share, and the impact of inflation on the market.
The plant-based meat alternatives sector has seen substantial development due to a heightened awareness of health, dietary needs, and ethical considerations. With a Compound Annual Growth Rate (CAGR) of 18.10% expected from 2024 to 2030, this market is experiencing unprecedented traction among consumers opting for more sustainable dietary choices.
Key Market Dynamics:
The shifting landscape toward plant-based eating is propelled by a combination of factors including environmental concerns, ethical considerations pertaining to animal welfare, and a surge in health consciousness among global consumers. Soy continues to dominate the space as a leading source of plant-based proteins, providing versatility and a favorable nutritional profile to an array of products from burger patties to sausages.
Emerging Trends and Growth at Glance:
Within the market's diverse range, the demand for beef-flavoured plant-based options is witnessing particular growth. They serve the flexitarian population by offering the experience of meat without the associated impact on health and environment. The report details the rising popularity of refrigerated plant-based meats due to their perceived freshness and align with the consumer trend towards premiumisation.
Navigating the Market Landscape:
The surge in consumer interest is prompting food service providers to incorporate plant-based meat options into their menu, presenting significant potential for growth in this distribution channel. Refrigerated plant-based meats stand out for their balance of convenience and perceived quality, while technological innovation continues to drive product development towards highly realistic meat alternatives.
Global Perspective:
On a global scale, China emerges as a major market player, with evolving consumer preferences and strong government support for sustainable alternatives. The research publication delineates the different factors driving the market in various regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Market Outlook:
- Soy remains a staple source in the market, particularly due to its high protein content and functional properties.
- Plant-based beef products are catching up, aiming to deliver taste, texture, and culinary versatility.
- The growth of burger patties continues, thanks to their familiar format and widespread consumer acceptance.
- Food service avenues are carving out significant market share with strategic partnerships and innovative offerings.
- Refrigerated plant-based meats positioned as premium offerings are poised to become leading formats.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $7.43 Billion |
| Forecasted Market Value (USD) by 2030 | $23.81 Billion |
| Compound Annual Growth Rate | 18.1% |
| Regions Covered | Global |
Company Analysis: Overview, Recent Developments, Revenue
- Beyond Meat
- Conagra Brands
- Maple Leaf Foods Inc
- Tyson Foods Inc
- Kellanavo
- Archer Daniels Midland
- US Foods Holding
- Hormel Foods Corporation
Source - Global Plant Based Meat Market breakup from 4 viewpoints:
- Soy
- Pea
- Wheat
- Others
Meat Type - Global Plant Based Meat Market breakup from 5 viewpoints:
- Chicken
- Pork
- Beef
- Fish
- Others
Product Type - Global Plant Based Meat Market breakup from 6 viewpoints:
- Burger Patties
- Sausages
- Nuggets and Strips
- Ground Meat
- Meatballs
- Others
Distribution Channel - Global Plant Based Meat Market breakup from 3 viewpoints:
- Food Retail
- Food Service
- E-Commerce
Storage - Global Plant Based Meat Market breakup from 3 viewpoints:
- Refrigerated Plant Based Meat
- Frozen Plant Based Meat
- Shelf Stable Plant Based Meat
Countries - Global Plant Based Meat Market breakup from 26 viewpoints:
North America
- United States
- Canada
Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherland
- Turkey
Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Malaysia
- Indonesia
- Australia
- New Zealand
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
Rest of the World
For more information about this report visit https://www.researchandmarkets.com/r/9vcx7k
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