With 13.2% CAGR, Plant Based Meat Alternative Market Expected to Reach at a Value of US$ 19.8 Bn by 2030 | Global Size, Share and Country Focused Growth Forecast

·4 min read
Reports and Insights BR Pvt. Ltd.
Reports and Insights BR Pvt. Ltd.

The plant-based meat alternative market is estimated to reach at a value of US$ 7.4 Bn by the end of 2022 and expected to reach at a value of US$ 19.8 Bn by 2030 with a significant CAGR of 13.2%.

Brooklyn, New York, Aug. 10, 2022 (GLOBE NEWSWIRE) -- The “Plant Based Meat Alternative Market: Opportunity Analysis and Future Assessment 2022-2030’” research report offers a comprehensive and an in-depth evaluation of the progressive market trends, growth areas, opportunities, drivers, and restraints, which would allow clients and stakeholders to line up their market strategies as stated in present & future market dynamics. The plant-based meat alternative market is estimated to reach at a value of US$ 7.4 Bn by the end of 2022 and expected to reach at a value of US$ 19.8 Bn by 2030 with a significant CAGR of 13.2%. A strategic assessment of the market growth trajectory in the forecast period, whilst considering the Covid-19 impact on the industry, is also included in the research study, with certain information established by research experts.

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Plant Based Meat Alternative Introduction

For the last decade, there has been roaring interest in the evolving idea and development of cell-based and plant-based alternatives to ranched meat. Even though the idea of plant-based meat alternatives is by and large encouraged due to increased concerns towards environment, animal welfare, as well as, in some instances, public health issues associated with ranched meat production and consumption.

Bringing into the open, plant-based meat has been around for a long time now—it has considerably become a way out for all vegans and vegetarians to fulfill their meat cravings without deceiving their cruelty-free and environment-friendly diet. The plant-based meat or vegan meat is basically meat alternatives developed using meat substitutes that have the similar texture, taste, appearance and flavor as meat, but without causing any animal cruelty or any health problems.

The growing concerns towards animal cruelty as well as increased awareness regarding harmful impact that ranched meat leaves on environment is primarily driving the demand of plant-based meat alternatives across the markets. In addition to that, several health benefits offered by the plant-based meat alternatives including no antibiotics, no cholesterol, and less saturated fats is further projected to accelerate the demand of plant-based meat all around the world. Therefore, the global plant-based meat alternatives market is projected to grow significantly over the years.

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Plant Based Meat Alternative Market Segmentation

The plant-based meat alternative market is segmented on the basis of ingredients, alternative, end products, technology, storage, and region.

By Ingredients

Proteins

Soy Protein

Pea Protein

Wheat Gluten

Legume proteins

Rapeseed, sunflower and other seed proteins

Others

Binders and Texturizing Agents

Xanthan Gum

Carrageenan

Methylcellulose

Locust Bean Gum

Calcium Alginate

Others

Fat, Oil and Oil Substitutes

Flavour and Colouring Agents

By Alternative

Beef Alternative

Chicken Alternative

Pork Alternative

Seafood Alternative

Egg Alternative

By End Products

Tofu

Burgers

Sausages

Patties

Nuggets, Tenders & Cutlets

Grounds

Steaks

Chicken Like Blocks

Others

By Technology

Extrusion

Shearing

Spinning

Freeze Alignment

By Storage

Refrigerated

Frozen

Shelf-stable

By Region

North America

Latin America

Europe

Asia Pacific

Middle East

Africa

Plant Based Meat Alternative Market Key Players

Some of the key participating players in plant-based meat alternative market are:

Impossible Foods

Kraft Heinz

Conagra Brands, Inc.

Beyond Meat

Eat Just, Inc.

Maple Leaf Foods

The Vegetarian Butcher

Gardein Protein International

Morningstar Farms

Quorn Foods

Amy’s Kitchen

Tofurky

Gold&Green Foods Ltd.

Sunfed

VBites Food Limited

Alpha Foods

Planterra Foods

Before the Butcher

No Evil Foods

Like Meat

The Meatless Farm Co.

Hooray Foods

Yves Veggie Cuisine

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