Plant Based Meat Market, By Source, By Product, By End User (Retail, HORECA, and Others), By Geography

Description

The Global Plant Based Meat Market is estimated to be valued at USD 8.42 Bn in 2024 and is expected to reach USD 18.44 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.8% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 8.42 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	11.80%	2031 Value Projection:	US$ 18.44 Bn

Figure. Global Plant Based Meat Market Share (%), By Region 2024

The global plant based meat market has seen tremendous growth over the past few years and is expected to witness further expansion in the coming decade. Rising health and environmental concerns have prompted many consumers to transition towards more sustainable and eco-friendly protein options. Plant-based alternatives offer comparable tastes and textures to animal-based meat but without the negatives associated with the latter such as higher saturated fat and cholesterol levels. Additionally, a flexitarian or part-time vegetarian lifestyle has gained popularity as it allows occasional consumption of real meat while relying on plant and cell-cultured alternatives for most meals. Both innovation and investment have accelerated in this space, enabling production of an even wider array of faux meat choices that cater to more tastes and cuisines worldwide.

Market Dynamics:

The global plant based meat market growth is driven by several factors such as increasing health awareness, concerns for animal welfare and the environment. Many consumers are switching to plant-based diets and lifestyles as they pose lesser risks of heart diseases, diabetes and cancer compared to animal-based meat. Moreover, large-scale animal farming contributes significantly to greenhouse gas emissions, pollution and deforestation. Plant-based meat production consumes lesser water, emits fewer emissions, and spares pressure on natural resources. However, lack of taste and texture similar to real meat act as a restraint while the market faces challenge from cheaper animal meat prices. At the same time, rising investments in startups, improving technologies and expanding availability widen the opportunities.

Key features of the study:

This report provides an in-depth analysis of the global plant based meat market and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global plant based meat market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Beyond Meat, Inc., Impossible Foods Inc., MorningStar Farms (Kraft Heinz), Quorn Foods Ltd., Tofurky Company, Inc., Amy's Kitchen, Inc., Field Roast Grain Meat Co., Lightlife Foods (Greenleaf Foods), Garden Protein International, Beyond Better Foods, Bute Island Foods Ltd., The Vegetarian Butcher, Alpha Foods, MGP Ingredients, Inc., Marlow Foods Ltd. (Cauldron), OmniFoods, and No Evil Foods

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global plant based meat market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global plant based meat market

Market Segmentation

Source Insights (Revenue, USD Bn, 2019 - 2031)
- Soy
- Wheat
- Blends
- Pea
- Others
Product Insights (Revenue, USD Bn, 2019 - 2031)
- Burgers
- Sausages
- Patties
- Nuggets
- Grounds
- Others
End User Insights (Revenue, USD Bn, 2019 - 2031)
- Retail
- HORECA (Hotel/Restaurant/Cafe)
- Others
Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- Beyond Meat, Inc.
- Impossible Foods Inc.
- MorningStar Farms (Kraft Heinz)
- Quorn Foods Ltd.
- Tofurky Company, Inc.
- Amy's Kitchen, Inc.
- Field Roast Grain Meat Co.
- Lightlife Foods (Greenleaf Foods)
- Garden Protein International
- Beyond Better Foods
- Bute Island Foods Ltd.
- The Vegetarian Butcher
- Alpha Foods
- MGP Ingredients, Inc.
- Marlow Foods Ltd. (Cauldron)
- OmniFoods
- No Evil Foods

Product Code: CMI2074

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Global Plant Based Meat Market, By Source
- Global Plant Based Meat Market, By Product
- Global Plant Based Meat Market, By End User
- Global Plant Based Meat Market, By Region

3. Market Dynamics, Regulations, And Trends Analysis

Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Market Opportunities
Regulatory Scenario
Key Developments
Industry Trend

4. Global Plant Based Meat Market, By Source, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Soy
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Wheat
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Blends
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Pea
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

5. Global Plant Based Meat Market, By Product, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Burgers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Sausages
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Patties
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Nuggets
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Grounds
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

6. Global Plant Based Meat Market, By End User, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Retail
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
HORECA (Hotel/Restaurant/Cafe)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)

7. Global Plant Based Meat Market, By Region, 2019 - 2031, Value (USD Bn)

Introduction
- Market Share (%) Analysis, 2024, 2027 & 2031, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2020 - 2031, Value (USD Bn)
- Regional Trends
North America
- Introduction
- Market Size and Forecast, By Source, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Product, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - U.S.
  - Canada
Latin America
- Introduction
- Market Size and Forecast, By Source, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Product, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Europe
- Introduction
- Market Size and Forecast, By Source, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Product, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, By Source, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Product, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - China
  - India
  - Japan
  - Australia
  - South Korea
  - ASEAN
  - Rest of Asia Pacific
Middle East
- Introduction
- Market Size and Forecast, By Source, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Product, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
  - GCC Countries
  - Israel
  - Rest of Middle East
Africa
- Introduction
- Market Size and Forecast, By Source, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Product, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By End User, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country/Region, 2019 - 2031, Value (USD Bn)
  - South Africa
  - North Africa
  - Central Africa

8. Competitive Landscape

Beyond Meat, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Impossible Foods Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
MorningStar Farms (Kraft Heinz)
Quorn Foods Ltd.
Tofurky Company, Inc.
Amy's Kitchen, Inc.
Field Roast Grain Meat Co.
Lightlife Foods (Greenleaf Foods)
Garden Protein International
Beyond Better Foods
Bute Island Foods Ltd.
The Vegetarian Butcher
Alpha Foods
MGP Ingredients, Inc.
Marlow Foods Ltd. (Cauldron)
OmniFoods
No Evil Foods

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. References and Research Methodology

References
Research Methodology
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