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 2024-2036

  • Report ID: 3155
  • Published Date: Aug 30, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Plant-based Meat Market size was valued at USD 7.28 billion in 2023 and is expected to exceed USD 69.1 billion by 2036, registering over 18.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of plant-based meat is assessed at USD 8.38 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.


Get more information on this report: Request Free Sample PDF

Plant-based Meat Sector: Growth Drivers and Challenges

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

Base Year

2023

Forecast Year

2024-2036

CAGR

18.9%

Base Year Market Size (2023)

USD 7.28 billion

Forecast Year Market Size (2036)

USD 69.1 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, 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)
Get more information on this report: Request Free Sample PDF

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

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

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 is estimated to dominate majority revenue share by 2036, 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.

Get more information on this report: Request Free Sample PDF

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.

In the News

  • 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.

Author Credits:  Parul Atri


  • Report ID: 3155
  • Published Date: Aug 30, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of plant-based meat is assessed at USD 8.38 billion.

Plant-based Meat Market size was valued at USD 7.28 billion in 2023 and is expected to exceed USD 69.1 billion by 2036, registering over 18.9% CAGR during the forecast period i.e., between 2024-2036. Rising trend of consuming vegan food products and increasing investments for producing plant-based meat by major companies will propel the market growth.

Asia Pacific is estimated to dominate majority revenue share by 2036, 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
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying
Inquiry Before Buying Request Free Sample