Plant-Based Meat Market Size

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.

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 Size