Plant-based Meat Market 2023 Deep Analysis of Current Trends and Future Demand by Top Key Players By 2030Posted by Mrudula Anil Karmarkar on July 19th, 2023 San Francisco, 19 July 2023: The ReportPlant-based Meat Market Size, Share & Trends Analysis Report By Source (Soy, Pea, Wheat), By Product (Burgers, Sausages, Patties), By Type, By End-user, By Storage, By Region, And Segment Forecasts, 2023 - 2030 The global plant-based meat market size is expected to reach USD 24.80 billion by 2030, expanding at 24.9% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc.Growing adoption of vegan lifestyle and diet among health-conscious consumers in traditionally meat-eating developed economies are expected to drive the market growth over the forecast period. The growing concern of consumers regarding animal welfare and greenhouse gas emission created by the distinguished practices of the meat industry, together with celebrity endorsements of vegan/vegetarian diets are projected to augment the demand for plant-based meat products in the global market. The plant based meat is predominantly consumed in the Hotel/Restaurant/Café (HORECA) sector. Key companies in the industry are collaborating with fast-food joints and restaurant chains to promote the adoption of their products. For instance, fast-food joints such as Burger King, MacDonald’s, and Subway are launching new vegan meat products to capitalize on the industry dominated by health-conscious customers. The plant based burgers are likely to exhibit steady growth over the upcoming years on account of rising consumer concerns regarding conventional meat products in the wake of the coronavirus pandemic. The plant-based burgers are known to offer low-gluten and low-fat contents, which makes them a highly favored product amongst health-conscious individuals. Growing consumer interest in plant-based diets, coupled with the rising consciousness for animal rights through various welfare organizations is expected to drive the market growth. However, despite the growing plant-based meat industry, a few companies such as Beyond Meat and Impossible Foods witnessed a dip in demand for plant-based meat products in 2022, primarily owing to the high costs of plant-based meat products. Request sample report of Plant-based Meat Market@https://www.grandviewresearch.com/industry-analysis/plant-based-meat-market/request/rs1 Plant-based Meat Market Report Highlights
Plant-based meat is becoming an integral part of a vegan diet, wherein the adoption of a vegetarian lifestyle that is devoid of animal-based foods becomes the norm. Consumers are inclined towards veganism for health and ethical reasons, while some other consumer groups are opting for vegetarian ingredients to avoid animal cruelty and to consume sustainable food & beverage products. Furthermore, soy as a raw material consists of all the standard (nine) amino acids, which are essential for the growth of the human body. Its ability to enhance the water absorption, solubility, emulsification, viscosity, anti-oxidation, and texture of the final product is likely to drive the demand for soy in plant-based meat products over the upcoming years. Plant-based Meat Market Report Scope
List of Key Players in the Plant-based Meat Market
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