Plant-based Meat Market Size, Share, Forecast, & Trends Analysis by Type (Tofu, TVP, Tempeh, Seitan, Meatballs, Burger Patties, Nuggets, Crumble, Shred), Source (Soy, Wheat, Pea), Distribution Channel (B2B, B2C )

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Plant-based Meat Market Size, Share, Forecast, & trend Analysis by Type (Tofu, TVP, Tempeh, Seitan, Meatballs, Burger Patties, Nuggets, Crumble, Shred), Source (Soy, Wheat, Pea), Distribution Channel (B2B, B2C {Convenience Store})-Global Forecast to 2031

According to the research report titled, 'Plant-based Meat Market Size, Share, Forecast, & Trends Analysis by Type (Tofu, TVP, Tempeh, Seitan, Meatballs, Burger Patties, Nuggets, Crumble, Shred), Source (Soy, Wheat, Pea), Distribution Channel (B2B, B2C {Convenience Store})-Global Forecast to 2031,' the plant-based meat market is projected to reach $27.14 billion by 2031, at a CAGR of 13.7% during the forecast period 2024-2031. The report provides an in-depth analysis of the plant-based meat market across five major regions, emphasizing the current market trends, market sizes, recent developments, and forecasts till 2031.

Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and trends. The growth of this market is attributed to the increasing preference for plant-based food products, a growing vegan population, a rising focus on animal welfare, and an expanding demand for alternative proteins. Additionally, innovations in food technology and rising venture investments in the plant-based food space create significant growth opportunities for the plant-based meat market players. However, consumer preference for soy and gluten-free products and continued consumption of animal-based products restrain the plant-based meat market growth.

The key players operating in the plant-based meat market are Beyond Meat Inc. (U.S.), Impossible Foods Inc (U.S.), The Hain Celestial Group, Inc. (U.S.), Unilever Plc (U.K.), Kellogg Company (U.S.), Lightlife Foods, Inc. (Part of Maple Leaf Foods Inc., Canada) (U.S.), Nestle S.A. (Switzerland), Conagra Brands, Inc. (U.S.), Taifun -Tofu GmbH (Germany), Atlantic Natural Foods LLC (U.S.), VBIte Food Ltd (U.K.), Sunfed Meats (New Zealand), Quorn Foods (U.K.), Ojah B.V. (Netherlands), and The Kraft Heinz Company (U.S.).

Based on type, the plant-based meat market is segmented into tofu, TVP, burger patties, tempeh, hot dogs and sausages, seitan, meatballs, ground meat, nuggets, crumbles, shreds, and other plant-based meat. In 2024, the tofu segment is expected to account for the largest share of the plant-based meat market. This segment's large market share is attributed to its increasing adoption due to its lower cost, easy availability, and high protein content, including all the essential amino acids.

Based on source, the plant-based meat market is segmented into soy, wheat, pea, and other sources. The soy segment is projected to register a higher CAGR during the forecast period 2024-2031. The high growth of this segment is mainly attributed to the rising demand for meat alternative manufacturers, wide availability of raw materials, lower cost compared to other sources, wide usage of plant-based meat products, and higher consumer acceptance level due to its meat-like texture and taste.

Based on distribution channel, the plant-based meat market is segmented into business-to-business (B2B) and business-to-consumer (B2C). In 2024, the B2C segment is expected to account for the larger share of the plant-based meat market. This segment's large market share is attributed to increasing e-commerce, growing sales of plant-based food in well-established supermarkets and hypermarket chains, and increased consumer expenditure on vegan food products due to rising disposable income.

An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights into the five major regions (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) and the coverage of major countries in each region. Asia-Pacific is expected to account for the largest share of the plant-based meat market in 2024. Asia-Pacific's major market share is attributed to the growing awareness of the importance of protein-rich diets, the risks associated with consuming contaminated meat goods, rising investments in the plant-based sector, and a well-established food sector. Moreover, this region is also projected to register the highest CAGR during the forecast period.

Key Questions Answered in the Report:

What is the current revenue generated by the plant-based meat market globally?
At what rate is the global plant-based meat demand projected to grow for the next 5-7 years?
What are the historical market sizes and growth rates of the plant-based meat market?
What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
Which segments, in terms of type, source, and distribution channel, are expected to create traction for the manufacturers in this market during the forecast period 2024-2031?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the plant-based meat market?
Who are the major players in the plant-based meat market? What are their specific product offerings in this market?
What are the recent strategic developments in the plant-based meat market? What are the impacts of these strategic developments on the market?

Scope of the Report:

Plant-based Meat Market Assessment-by Type

Tofu
Textured Vegetable Protein (TVP)
Burger Patties
Tempeh
Hot Dogs & Sausages
Seitan
Meatballs
Ground Meat
Nuggets
Crumbles
Shreds
Other Plant-based Meat

Plant-based Meat Market Assessment-by Source

Soy
Wheat
Pea
Other Plant Sources

Plant-based Meat Market Assessment-by Distribution Channel

Business to Business
Business to Consumers
- Modern Groceries
- Convenience Stores
- Specialty Stores
- Online Retail
- Other B2C Distribution channels

Plant-based Meat Market Assessment - by Geography

North America
- U.S
- Canada
Europe
- France
- Germany
- Italy
- U.K.
- Spain
- Netherlands
- Belgium
- Austria
- Poland
- Portugal
- Rest of Europe (RoE)
Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Thailand
- Rest of Asia-Pacific (RoAPAC)
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America (RoLATAM)
Middle East & Africa

Product Code: MRFB - 104898

1. Market Definition & Scope

1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders

2. Research Methodology

2.1. Research Process
2.2. Data Collection & Validation
- 2.2.1. Secondary Research
- 2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing and Forecast
- 2.3.1. Market Size Estimation Approach
- 2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study
2.5. Limitations of the Study

3. Executive Summary

3.1. Overview
3.2. Segment Analysis
- 3.2.1. Plant-based Meat Market Assessment-by Type
- 3.2.2. Plant-based Meat Market Assessment-by Source
- 3.2.3. Plant-based Meat Market Assessment-by Distribution Channel
3.3. Plant-based Meat Market Regional Assessment
3.4. Competitive Landscape & Market Competitors

4. Market Insights

4.1. Overview
4.2. Drivers
- 4.2.1. Growing Preference for Plant-based Food Products
- 4.2.2. Growing Vegan Population
- 4.2.3. Growing Focus on Animal Welfare
- 4.2.4. Rising Demand for Alternative Proteins
4.3. Restraints
- 4.3.1. Consumer Preference for Soy and Gluten-Free Products
- 4.3.2. Significant Preference for Animal-based Products
4.4. Opportunities
- 4.4.1. Innovation in Food Technology
- 4.4.2. Rising Venture Investments in the Plant-based Food Space
4.5. Challenges
- 4.5.1. Expensive Nature of Plant-based Products
4.6. Key Trends
- 4.6.1. Sustainable Foods

5. Plant-based Meat Market Assessment-by Type

5.1. Overview
5.2. Tofu
5.3. Textured Vegetable Protein (TVP)
5.4. Burger Patties
5.5. Tempeh
5.6. Hot Dogs and Sausages
5.7. Seitan
5.8. Meatballs
5.9. Ground Meat
5.10. Nuggets
5.11. Crumbles
5.12. Shreds
5.13. Other Plant-based Meat

6. Plant-based Meat Market Assessment-by Source

6.1. Overview
6.2. Soy
6.3. Wheat
6.4. Pea
6.5. Other Sources

7. Plant-based Meat Market Assessment-by Distribution Channel

7.1. Overview
7.2. Business-to-Business (B2B)
7.3. Business-to-Consumers (B2C)
- 7.3.1. Modern Groceries
- 7.3.2. Convenience Stores
- 7.3.3. Specialty Stores
- 7.3.4. Online Retail
- 7.3.5. Other B2C Distribution Channels

8. Plant-based Meat Market Assessment-by Geography

8.1. Overview
8.2. North America
- 8.2.1. U.S.
- 8.2.2. Canada
8.3. Europe
- 8.3.1. France
- 8.3.2. Germany
- 8.3.3. Italy
- 8.3.4. U.K.
- 8.3.5. Spain
- 8.3.6. Netherlands
- 8.3.7. Belgium
- 8.3.8. Austria
- 8.3.9. Poland
- 8.3.10. Portugal
- 8.3.11. Rest of Europe (RoE)
8.4. Asia-Pacific
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South Korea
- 8.4.6. Thailand
- 8.4.7. Rest of Asia-Pacific (RoAPAC)
8.5. Latin America
- 8.5.1. Brazil
- 8.5.2. Mexico
- 8.5.3. Argentina
- 8.5.4. Rest of Latin America
8.6. Middle East & Africa

9. Competition Analysis

9.1. Overview
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Competitive Dashboard
- 9.4.1. Industry Leaders
- 9.4.2. Market Differentiators
- 9.4.3. Vanguards
- 9.4.4. Emerging Companies

10. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)

10.1. Beyond Meat Inc.
10.2. Impossible Foods Inc
10.3. The Hain Celestial Group, Inc.
10.4. Unilever Plc
10.5. Kellogg Company
10.6. Lightlife Foods, Inc. (Part of Maple Leaf Foods Inc., Canada)
10.7. Nestle S.A.
10.8. Conagra Brands, Inc.
10.9. Taifun -Tofu GmbH
10.10. Atlantic Natural Foods LLC (Part of Aft Holdings, Inc., U.S.)
10.11. VBIte Food Ltd
10.12. Sunfed Meats
10.13. Quorn Foods
10.14. Ojah B.V.
10.15. The Kraft Heinz Company
10.16. Other Companies

11. Appendix

11.1. Available Customization
11.2. Related Reports