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.
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.
Author Credits: Parul Atri
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