Status : Published Published On : Dec, 2023 Report Code : VRFB11011 Industry : Food & Beverage Available Format : Page : 161

Global Plant Based Meat Market - Analysis and Forecast (2025-2030)

Industry Insights by Raw Material (Soy, Wheat, and Pea), by Product (Burger Patties, Sausages, Strips & Nuggets, and Meatballs), and Distribution Channel (Retail Outlets, Foodservice, E-commerce)

Industry Overview

The Global Plant Meat Market is estimated to be USD 14.7 billion in 2023 and is predicted to reach USD 28 billion by 2030, growing at a CAGR of 13.8% during the forecast period 2025-2030. The factors responsible for the growth of plant-based meat across the globe are due growing vegan population and plant-based meat products, rising consumer awareness regarding its nutritional benefits, and increasing health concerns due to COVID-19 concerns.

Plant Based Meat Market

Plant-based meat has ingredients sourced from plants such as soy flour, to mimic the texture of animal-based meat. Current innovations also claim that it offers the same cooking and eating experience as traditional animal-based meat. Few hamburger outlets have introduced plant-based burger patties, which emulate the texture of the beef offered in the same outlet.

The global pandemic of COVID-19 has positively impacted the sale of plant-based meat, particularly in the U.S. and Europe. The conventional meat industry in the U.S. is in a tailspin. Owing to the risk of infection and country-wide serious lockdown, the meat packing plants in the U.S. are closed. This closure has led to a reduction in more than 25% of meat production and disruption in the food supply. Plant-based meat producers such as Tyson Foods have announced to take advantage of such a gap in the food supply chain across the country. Moreover, the U.S.-based plant-based meat giants, Beyond Meats, and Impossible Foods have taken steps to increase their retail footprint.

Market Segmentation

Insight by Raw Material

Based on raw materials, the plant-based meat market is categorized into soy, wheat, and pea. In 2022, the soy segment is expected to dominate the plant-based meat market. the segment’s high share is due to its protein richness and widespread popularity. Soy-based meats are excellent sources of protein as compared to legumes. It also contains different kinds of protein, which are not present in animal meats including dietary cholesterol and saturated fats.

According to the American Heart Association (AHA), Soy-based foods are low in saturated fats, whereas animal-based protein is high in saturated fats and cholesterol, which increases the probability of developing cardiovascular disease. Moreover, the growing consumer concern with the consumption of animal-based protein, as COVID-19 is considered to originate from animals, and the rise in adoption of vegan diets is expected to drive the usage of soy-based meat products.

Insight by Product

On the basis of product, the plant-based meat market is categorized into burger patties, sausages, strips & nuggets, and meatballs. In 2019, the burger patties product segment is expected to be the largest among all the segments and is projected to be fastest growing, over the study period. The high preference for burger patties among consumers is owing to their low-fat content and low gluten content. Moreover, the shift in consumer preference and rising demand for burger patties from retail channels will likely complement the uptake of burger patties.

Global Plant Based Meat Market Report Coverage

Report Metric


Historical Period

2018 - 2023

Base Year Considered


Forecast Period

2025 - 2030

Market Size in 2023

U.S.D.  14.7 Billion

Revenue Forecast in 2030

U.S.D.  28 Billion

Growth Rate


Segments Covered in the Report

By Raw Material, By Product

Report Scope

Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

Regions Covered in the Report

North America, Europe, Asia-Pacific, Middle East, and Rest of the World

Industry Dynamics

Growth Drivers

Plant-based Protein Demand is Driven by Health Concerns and Millennials

The expanding reach of social media across the world, and rising concerns about food industry transparency regarding the efficacy, ill effects, and sustainability of animal-based protein foods are greatly impacting consumer buying decisions. With the ongoing pandemic of COVID-19, which is suspected to have originated from animals, the shift of consumers from meat products to plant-based meat is inevitable. Plant-based meat is situated at the lucrative crossroads of these social dynamics and is likely to benefit from this phenomenon.

Consumers around the world are reducing animal meat, owing to growing awareness of the link between high meat consumption and the spread of non-communicable diseases (NCDs), as supported by continuous scientific evidence over the years. This in effect encourages health campaigners, experts, and policymakers to send a clear message about the effects of less meat consumption. The trend is expected to continue over the years. According to the research published in the British Medical Journal (BMJ) elevated rates of red meat intake to a 26 percent enhanced likelihood of developing more than nine NCDs, including obesity, type 2 diabetes, strokes, and Alzheimer's. Moreover, the World Health Organization (WHO) also listed red and processed meat as carcinogenic.

Consumers find potential advantages of plant-based foods, on the other side, and equate such items with better health outcomes and higher nutritional value. A 2016 study by Oxford University found that a 'healthy' diet (i.e. one that contains less meat) could prevent 5.1 million deaths worldwide by 2050.

Meat-free protein products are no longer restricted to the relatively small group of consumers who identify as vegetarian or vegan. For example, 39 percent of Americans are actively trying to incorporate more plant-based foods into their diets, and this shift is driven by millennials: 30 percent eat meat alternatives every day, while 50 percent eat meat alternatives several times a week (Nielsen 2017).


Consumer wariness over over-processing and unnecessarily long comments on ingredients is probably the greatest obstacle confronting plant-based meat producers. The ill impacts of plant-based meat products are still to be deciphered. Moreover, the market is also constrained by the lawsuits against it by lobby forces supporting animal-based meat products.

Geographic Overview

Geographically, North America is the largest revenue contributor in the plant-based meat market. The North American region, in particular the US, is experiencing adverse COVID-19 outcomes. Retail chains in the US have also extended shelf and storage space to meet the growing demand for plant-based meat products. The number of COVID-19 cases in North America is also increasing rapidly with registered cases of deaths as registered.

Europe's growing trend of veganism has pushed the growth of the meat industry based on plants. The UK hosts the world's largest vegan population, further boosting demand for vegetable-based meat products in Europe. The latest epidemic of COVID-19 and adverse comparisons of animal-based food would also improve the demand in North America and Europe in the coming years as COVID's worst effects have been seen by various countries in both areas.

Moreover, developed economies across the world have issued dietary guidelines to reduce the consumption of animal meat consumption. European countries such as the U.K, Sweden, France, and the Netherlands have established guidelines for their citizens to reduce their intake of meat and dairy products.

Canada's Food Guide focuses on plant-based foods over animal proteins. In China's Ministry of Health revised to lower the range of meat consumption to encourage its citizens to reduce their intake of meat. Governments are now beginning to understand the climatic and environmental effects of diets. The expert panel of the review team recommended the inclusion of key material environmental indicators during the most recent revision of the US dietary guidelines. Denmark is considering proposals for imposing a red meat tax. In Sweden's Green Party tabled a motion in the Swedish parliament calling for a climate tax on food. Moreover, The French National Assembly adopted an amendment to the country's Rural Code, where it states that designations relating to animal products cannot be used to market food products of which is a substantial part of vegetables.

The 2022 reform of the Novel Food Regulation aimed to improve the first two of these requirements by creating a consistent mechanism for product authorization and streamlining the process in order to provide for quicker consumer acceptance of goods. The third condition, financial incentives for innovation, lies outside the scope of the Novel Food Regulation itself, although the provision of five-year data protection for proprietary, newly developed scientific evidence or data supporting the application provides manufacturers with a degree of financial assurance by safeguarding their competitive advantage over a period of time.

Recent Development by Key Players

Impossible Foods is launching a plant-based beef hot dog that will be available in both grocery stores and restaurants the coming year. The product innovation isn’t stopping. The forthcoming hot dog will be the first product made to replicate the quintessential American food by the Impossible Foods.

The Vegetarian Butcher Launches recently, Vegan Christmas Turkey in Rotterdam’s First Plant-Based Butchery. The Vegetarian Bucher has been experiencing significant growth, expanding internationally as far as China and establishing noticeable partnerships with Burger King and Subway. In 2023 alone, the brand launched two meat alternatives offering the experience of beloved meat classics to make the transition to plant-based meat easier.

Tofurky, a pioneering plant-based meat business since 1995, announces the addition of two new flavors to its renowned line of sausages: Chorizo and Mango Chipotle in Dec 2023. The new additions bring the company's sausage assortment to five, complementing its plant-based deli slices, tempeh, chick'n, and roasts.

The Düzgün Group, a döner producer, and The Vegetarian Butcher has partnered to launch a plant-based meat skewer in Europe in September 2023 that tastes and feels just like its animal meat counterpart and can be prepared in the same manner. This partnership is expected to cause a disruption in the kebab market.

Competitive Insight

Key players operating in the global plant-based meat market include Impossible Foods, Beyond Meat, Maple Leaf Foods Inc., The Meatless Farm Co., Garden Protein International, The Vegetarian Butcher, Morningstar Farms, Quorn Foods, Amy’s Kitchen, and Tofurky. These players have broad industry coverage and high operational and financial strength.

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data, and have key opinions from the industry experts. The key profiles approached within the industry include, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behavior.

The Plant Based Meat Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

Segments Covered in the Report

  • Raw Material
    • Soy
    • Wheat
    • Pea
  • Product
    • Burger Patties
    • Sausages
    • Strips & Nuggets
    • Meatballs
  • Distribution Channel
    • Retail Outlets
    • Food Services
    • E-Commerce

Geographical Segmentation

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World (RoW)
    • Brazil
    • Saudi Arabia
    • South Africa
    • U.A.E.
    • Other Countries

Plant Based Meat Market Size

Source: VynZ Research

Plant Based Meat Market Analysis

Source: VynZ Research

Frequently Asked Questions

Key players operating in the global plant-based meat market include Impossible Foods, Beyond Meat, Maple Leaf Foods Inc., The Meatless Farm Co., Garden Protein International, The Vegetarian Butcher, Morningstar Farms, Quorn Foods, Amy’s Kitchen, and Tofurky.
North America is the largest revenue contributor in the plant based meat market.
Consumer wariness over over-processing and unnecessarily long comments on ingredients is probably the greatest obstacle confronting plant-based meat producers.
The expanding reach of social media across the world, rising concerns about food industry transparency regarding the efficacy, ill effects, sustainability of the animal based protein foods is greatly impacting the consumer buying decisions.
The burger patties product segment is expected to be largest among all the segments and is projected to be fastest growing, over the study period.

Place an order

Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle