Global Plant Based Meat Market is estimated to be USD 14.7 billion in 2020 and is predicted to reach USD 28.0 billion by 2025, growing at a CAGR of 13.8% during the forecast period (2020-2025)

Published Date: Sep, 2020

The report "Plant Based Meat Market by Raw Material (Soy, Wheat, and Pea), by Product (Burger Patties, Sausages, Strips & Nuggets, and Meatballs), and Distribution Channel (Retail Outlets, Foodservice, E-commerce) - Global Forecast to 2025", market is estimated to be USD 14.7 billion in 2020 and is predicted to reach USD 28.0 billion by 2025, growing at a CAGR of 13.8% during the forecast period. Advances in plant-based meat products is attracting a great deal of customer and national press attention, as well as filling inventory in supermarket aisles and food service menus. We've already seen innovative new products and companies appear across categories. However, we may be on the verge of a revolution in food technology that could accelerate this trend exponentially. Innovations such as synthetic fertilizers, herbicides, selective breeding and antibiotics have enabled food production to keep pace with population growth since the 'Green Revolution' of the 1930s to 1960s.

However, those productivity gains are limited. Animal farming is inherently inefficient, especially as regards conversion of feeds. According to the study published by World Resources Institute (WRI), in 2016, even the most efficient meat source, chicken, converts to animal protein only around 11 percent of gross feed energy. It is gradually understood that this inefficiency has produced a mechanism that is ready to shake. In addition, this would produce a significant shift in productivity at a fraction of the expense and with much less detrimental effects.

Browse 53 market data Tables and 35 Figures spread through 161 Pages and in-depth TOC on "Plant Based Meat Market by Raw Material (Soy, Wheat, and Pea), by Product (Burger Patties, Sausages, Strips & Nuggets, and Meatballs), and Distribution Channel (Retail Outlets, Foodservice, E-commerce) - Global Forecast to 2025"

On the basis of distribution channel, the plant based meat market is categorized into Retail Outlets, Foodservice, E-commerce. In 2019, the e-commerce channel is expected to grow at fastest rate over the study period. Increasing participation of omni-channel and internet penetration would support the development of e-commerce in the plant-based meat industry. E-commerce platforms are expected to see growing competition for plant-based meat products, while customers may stop heading to grocery outlets due to the introduction of lock-downs in the light of the ongoing pandemic. Distributors will switch to e-commerce and electronic shopping platforms for the sale of plant-based meat goods, resulting in higher competition from these sources. However, the operation of cold chains is still a possible problem for these outlets.

Global Plant Based Meat Market Segmentation Analysis

Segment

Categorization

Leading Category

Raw Material

Soy, Wheat, and Pea

Soy (Largest)

Product

Burger Patties, Sausages, Strips & Nuggets, and Meatballs

Burger Patties (Fastest)

Distribution Channel

Retail Outlets, Foodservice, E-commerce

E-Commerce (Fastest)

Region

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

North America (Largest)

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“North America to hold the largest regional market share in 2019.”

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 outcomes. Retail chains in the US have also extended shelf and storage space to meet growing demand for plant-based meat products. The number of COVID-19 cases in North America is also enhancing rapidly with registered cases of almost 5,04,780 and 18,763 deaths as registered in the first week of June.

Some of the major players 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.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2025

Historical Period

2015–2019

Base Year

2019

Forecast Period

2020–2025

Segments Covered in the Study

Raw Material, Product, Distribution Channel, and Region

Geographies Covered in the Study

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

Companies Covered in the Study

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

Global Plant Based Meat Market Coverage

Raw Material Insight and Forecast 2015-2025

  • Soy
  • Wheat
  • Pea

Product Insight and Forecast 2015-2025

  • Burger Patties
  • Sausages
  • Strips & Nuggets
  • Meatballs

Distribution Channel Insight and Forecast 2015-2025

  • Retail Outlets
  • Food Services
  • E-Commerce

Geographical Segmentation

Plant Based Meat Market by Region

North America

  • By Raw Material
  • By Product
  • By Distribution Channel
  • By Country – U.S., Canada, and Mexico

Europe

  • By Raw Material
  • By Product
  • By Distribution Channel
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Raw Material
  • By Product
  • By Distribution Channel
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Raw Material
  • By Product
  • By Distribution Channel
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
Our Industry
Global Plant Based Meat Market is estimated to be USD 14.7 billion in 2020 and is predicted to reach USD 28.0 billion by 2025, growing at a CAGR of 13.8% during the forecast period (2020-2025)