Plant-Based Chicken Market Size

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.

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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.