Plant-Based Meat Market Size Worth $35.4 Billion By 2027 | INDUSTRY PLAYERS : V2food, Beyond Meat, Garden Protein International, Zhenmeat, Morningstar Farms, Novameat, Quorn Foods and others

August 13 04:15 2020
Plant-Based Meat Market Size Worth $35.4 Billion By 2027 | INDUSTRY PLAYERS : V2food, Beyond Meat, Garden Protein International, Zhenmeat, Morningstar Farms, Novameat, Quorn Foods and others

“Polaris Market Research”
The new published report by Polaris Market Research The global Plant-Based meat market was valued at USD 11.1 billion in 2019 and is expected to reach USD 35.4 billion by 2027 to grow at a CAGR of 15.8% during 2020-2027

The global plant-based meat market size is expected to reach USD 35.4 billion by 2027 according to a new study by Polaris Market Research. The report “Plant-based Meat Market Share, Size, Trends, Industry Analysis Report, By Source (Soy, Wheat, Pea, and Others); By Product (Burger Patties, Sausages, Strips & Nuggets, Meatballs, Others); By Application (Retail Outlets, Foodservice, E-commerce), By Regions; Segment Forecast, 2020 –2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

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

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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 per cent of the U.S. citizens are actively using plant originated foods in their diets, and this shift is driven by millennials: 30 per cent eat meat alternatives every day, while 50 per cent eat meat alternatives several times a week.

Plant-Based Meat Market 

The global plant-based meat market is driven by growing concern towards animal based meat owing to global narrative that COVID-19 originated from wild animals. The growing vegan population in Europe, consumer awareness towards nutritional benefits, and innovations in food technology coupled with funding support from investment firms. Recently, in June 2020, Veganuary, the UK based non-profit organization introduced Veg Capital, funding solutions plant-based food companies. It will provide fund of around EUR 50,000 to 2,50,000 to the plant-based food startups.

Moreover, strong government intent also pitched the usage of plant-based meat in the forefront. 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 in 2015. Denmark is considering proposals for imposing a red meat tax. In 2016, Sweden’s Green Party tabled a motion in the Swedish parliament calling for a climate tax on food.

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Market participants in the plant-based meat market include :  Impossible Foods, V2food, Beyond Meat, Garden Protein International, Zhenmeat, Morningstar Farms, Novameat, Quorn Foods, Amy’s Kitchen, Omnipork, Maple Leaf Foods, Zikooin, The Vegetarian Butcher, Greenwise, Tofurky, Gold & Green Foods, Sunfed, and VBites. are some of the key players operating in the concerned market. They are competing on several factors such as price, product quality, taste, nutritional claims, brand value, advertisement, and promotions.

Polaris Market research has segmented the plant-based meat market report on the basis of source, product, distribution channel, and region

Plant-based Meat Source Outlook (Revenue – USD Million, 2016 – 2027)

• Soy

• Wheat

• Peas

• Others

Plant-based Meat Product Outlook (Revenue – USD Million, 2016 – 2027)

• Burger Patties

• Sausages

• Strips & Nuggets

• Meatballs

• Others

Plant-based Meat Distribution Channel Outlook (Revenue – USD Million, 2016 – 2027)

•  Retail Outlets

•  Foodservice

•  E-commerce

Plant-based Meat Regional Outlook (Revenue – USD Million, 2016 – 2027)

• North America (U.S., Canada)

• Europe (France, Germany, UK, Italy, Spain, Belgium, Netherlands)

• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)

• Latin America (Brazil, Mexico, Argentina)

• MEA (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to our customers.


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