Plant-Based Chicken Market Size & Share 2023 to 2032
Market Size by Raw Material (Soy, Wheat, Pea), by Product (Sausages, Burgers, Patties, Nuggets, Tenders & Cutlets, Grounds), by End User (Retail, HORECA) & Global Forecasts.
Report ID: GMI6317
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Published Date: July 2023
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Report Format: PDF
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Authors:
Kiran Pulidindi, Kunal Ahuja
Plant-based Chicken Market Size
Plant-based Chicken Market size was valued at USD 4.2 billion in 2022 and is anticipated to record over 16% CAGR from 2023 to 2032. Driven by the increasing health and wellness consciousness.
Plant-Based Chicken Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
Consumers have become increasingly health-conscious over the years and are seeking nutritious, plant-based alternatives to animal-derived proteins. This has shifted their inclination toward vegetarian and vegan diets and lifestyles, leading to an increased demand for plant-based protein sources as a primary protein choice. According to British Council, 1.5 billion people across the globe are vegetarians, of which 88 million are vegans and 75 million are vegetarians by choice. Plant-based proteins have a lower environmental impact in terms of greenhouse gas emissions, water usage, and land footprint compared to animal-based protein sources. These factors, in tandem, are likely to boost the uptake of plant-based chicken over the next ten years.
Plant-based Chicken Market Growth Drivers and Restraints
Concerns about animal welfare and ethical treatment have influenced consumers to opt for plant-based protein sources. Ongoing R&D efforts have led to the creation of plant-based chicken products that closely mimic the taste, texture, and appearance of traditional chicken, enhancing their appeal to consumers.
However, some consumers may be skeptical about the claims made by plant-based chicken manufacturers regarding health benefits and environmental impact, leading to hesitation in trying these products. Besides, the plant-based industry is subject to labeling regulations and standards varying from region to region. This may lead to compliance complexities for manufacturers, thus, causing sluggish market growth.
COVID-19 Impact
The COVID-19 pandemic significantly impacted the plant-based chicken market development. During the pandemic, there was a heightened focus on health and sustainability, leading consumers to explore alternative protein sources. With disruptions in the meat supply chain and concerns over zoonotic diseases, plant-based chicken gained popularity as a healthier and environmentally friendly option. The pandemic accelerated the adoption of plant-based diets, driving increased demand for plant-based chicken products as people sought to diversify their protein choices and reduce their reliance on traditional animal-based proteins.
Plant-based Chicken Market Trends
Plant-based chicken is perceived as safer and less prone to foodborne illnesses, making them a preferred choice for health-conscious consumers. Besides, it is often suitable for individuals with dietary restrictions or allergies to animal proteins, broadening their consumer base. Supportive policies and incentives from governments aimed at promoting sustainable and plant-based food options will further boost plant-based chicken market growth.
Plant-Based Chicken Market Analysis
The burgers segment will record significant gains through 2032. There is a rising trend of consumers seeking healthier and more sustainable food options, and plant-based chicken burgers fit these criteria. The taste and texture of modern plant-based chicken burgers have improved significantly, making them a more appealing alternative for both vegetarians and meat-eaters looking to reduce their meat consumption.
Quoting an instance, the plant-based spicy chicken burger with mayo sauce by MEAT ZERO uses a plant-based technique, "Plant-Tec Innovation", to create a meat-like flavor that is cholesterol free and high in protein and fiber. It is available in the United States. This apart, the increasing availability of plant-based chicken burgers in restaurants, fast-food chains, and grocery stores will contribute to their growing popularity among consumers.
The soy segment amassed 33% of the plant-based chicken market share in 2022 and is poised to witness commendable growth over 2023-2032. Increasing awareness of the environmental impact of traditional meat production and rising animal welfare concerns is supporting consumers to seek sustainable and plant-based alternatives.
Health-conscious consumers are embracing soy-based chicken for its high protein content and lower saturated fat levels than conventional chicken. Additionally, advancements in plant-based food technology have improved the taste and texture of soy-based chicken, making it more appealing to a wider audience.
North America plant-based chicken market reached USD 1.3 billion in 2022 and is expected to garner appreciable gains between 2023 and 2032. Increasing awareness of environmental sustainability and animal welfare concerns motivates consumers to choose plant-based alternatives. Health and wellness trends, in tandem with improved taste and texture of plant-based chicken products, attract health-conscious individuals and meat-eaters looking for healthier options. Growing support from the food industry and expanding availability in restaurants and grocery stores will further push regional growth.
Plant-Based Chicken Market Share
Some of the major market players operating in the plant-based chicken industry are
Plant-Based Chicken Industry News
This market research report on plant-based chicken includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) & volume (Kilo Tons) from 2018 to 2032, for the following segments:
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Market, By Raw material
Market, By Product
Market, By End User
The above information is provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
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Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
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5. Forecast model & key assumptions
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✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
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Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
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Verified data sources
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