Plant Based Meat Market Size By Source (Soy {By Type [Burger Patties, Strips & Nuggets, Meatballs, Sausage, Ground Meat], By Type [Chicken, Pork, Beef, Fish], By Distribution Channel [Grocery Stores, Food & Drink Specialty Stores, Convenience Stores, Food & Drink Specialty Stores, Online Retail, Restaurant]}, Wheat {By Product [Burger Patties, Ground Meat, Strips & Nuggets, Steaks, Sausage, Seitan], By Type [Chicken, Bacon, Beef], By Distribution Channel [Grocery Stores, Food & Drinks Specialty Stores, Online Retail, Restaurant]}, Pea {By Product [Burger Patties, Meatballs, Strips & Nuggets], By Type [Chicken, Beef, Bacon, Fish], By Distribution Channel [Grocery Stores, Convenience Stores, Food & Drinks Specialty Stores, Restaurants]}), Industry Analysis Report, Regional Analysis (U.S., Canada, Mexico, Germany, UK, France, Italy, Netherlands, Spain, Russia, China, India, Japan, South Korea, Australia, Brazil, Argentina, Saudi Arabia, UAE, South Africa, Egypt), Application Development, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Jul 2019 | Report ID: GMI3466 | Authors: Kunal Ahuja, Shreya Deb Report Format: PDF

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Summary Table of Contents Industry Coverage Methodology

Industry Trends

Plant Based Meat Market size exceeded USD 150 million in 2018 and may expect consumption at over 400 kilo tons by 2025. 
 

U.S. Wheat Based Meat Market Size, By Application, 2018 & 2025, (Kilo Tons)
U.S. Wheat Based Meat Market Size, By Application, 2018 & 2025, (Kilo Tons)

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Increasing consumer consciousness on environmental hazards such as water & land degradation, acid rain, coral reef degermation, and deforestation associated with killing of animals is projected to stimulate plant based meat market size. Rising consumer awareness on animal rights & consciousness through global welfare organizations such as PETA and Animal Aid has encouraged people to adopt vegetarian diets which should accelerate market growth. In Germany, over 35% of the respondents agreed to substitute plant product for meat in 2018 owing to changing consumer perceptions towards red & white meat consumption and rising seafood borne bacterial infections. Supportive government initiatives by Switzerland to ban live boiling of lobsters and legislation against animal mistreatment is changing consumer perception towards plant based meat sources. 
 

Increasing consumer awareness on potential benefits of vegetarian diets such as improved kidney function, lower insulin levels, and decreased rate of heart disease should foster market share. Soy is widely used to prepare plant based substitutes for various red & white meat products such as chicken, pork, beef, and fish. It is widely utilized in various preparations such as burger patties, nuggets, strips, meatballs, sausages, and ground meat which is attracting customers as it provides the freedom to prepare various cuisines such as Italian, Thai, Vietnamize, American, and Indian. In the U.S., soy-tofu based meat substitutes was valued at over USD 120 million in 2017 owing to rising awareness on soy products health benefits. Soy preparations are rich with isoflavones that help in age related diseases such as osteoporosis, hormone imbalance, & loss of cognitive function owing to anti-inflammation and antioxidant characteristics which should increase plant based meat market share.
 

Plant based meat products are incomplete protein source and lack vitamin B12 which may hinder market growth. Manufacturers are researching to enhance the nutritional profile of plant based meat products by mixing high protein food sources such as quinoa which may fuel product demand.
 

Plant Based Meat Market, By Source

Global pea based meat market size may witness gains close to 10.5% during the foreseeable timeframe. Increasing consumer consciousness towards vegetarian and vegan diets owing to changing perceptions towards overall well being should foster plant based meat market share. Peas are economical to farm & easy to grow and are enriched with vital nutrients such as fibre, manganese, thiamine, phosphorous, vitamin K & C, and folate which makes it an effective substitute to red and white meat products. Peas are also enriched with branched amino acids which are typically found in red meat & aid in regulating various metabolic processes such as cell division, DNA, RNA, protein, and lipid synthesis which should foster market growth.
 

Burger patties pea based meat market demand was valued at over USD 2 million in 2018. Burgers are the most common form of fast food & variety of meat ranging from chicken, pork, and beef is used to prepare the patty. Increasing cases of burger patty bacterial contamination owing to inefficient grilling and improper processing is changing consumer outlook. Pea based meat can be substituted to make burger patties owing to its high protein content, similar consistency & texture to meat, quick preparation, and easy availability should trigger plant based meat market growth.
 

Wheat based meat market demand may surpass USD 40 million over the projected timeframe. Increasing prevalence of digestive problems such as bloating, stomach cramps, heartburn, & pain owing to increased red meat and alcohol consumption should accelerate industry growth. Wheat based preparations are easy to digest as it is concentrated with fibre and roughage which aids in boosting metabolic system thus increasing absorption rate of vital nutrients. They can be utilized to prepare meat products corresponding to big slices of steak & seitan owing to its textured and grainy characteristics which may boost plant based meat market demand.
 

Beef wheat based meat market demand may grow significantly at around 10% by 2025. Rise in unconventional processing practices, animal cruelty, & chemical feed raised cows to increase muscle and fat concentration is changing consumer outlook towards vegetarian protein sources. Meat and milk from chemical feed raised cows increases the risk of bovine spongiform encephalitis disease which in turn will increase the overall plant based meat market demand.
 

Chicken soy based meat market demand was valued at about USD 70 million in 2018. Chicken is the most common protein source and is highly susceptible to diseases such as bird flu, new castle disease, infectious coryza, and marek’s, which is majorly focusing towards vegetarian protein sources intake. Environmental concerns related to animal suffering have urged consumers to opt for non-animal protein sources including oats, lentils, rice protein, and mung bean which may fuel product demand. Growing consumer penetration through stringent marketing & various delivery channels such as e-commerce portals, direct selling contracts, supermarkets, restaurants, and convenience stores is making it easy to get affordable and high-quality products which is likely to accelerate overall market share.
 

Plant Based Meat Market, By Region

North America, driven by Canada and the U.S. plant based meat market size may register significant growth over 10% up to 2025. Increasing awareness on potential risks of contaminated meat products along with increasing adulterated products cases with various disease outbreak may trigger regional growth. Rising consumers’ demand for veggie options and companies focusing towards innovative product development is likely to propel industry growth.
 

Europe plant based meat market demand, led by Germany, UK, and France may surpass USD 55 million by 2025. Stringent regulations on animal welfare accompanied with consumer outlook on vegan & vegetarian product alternatives should foster regional market share.
 

Asia Pacific led by India, Japan, and China market size was valued at over USD 30 million in 2018. Increasing cases of contaminated diseases such as trichinosis from pork, salmonella from poultry, scrapie from lamb, vibrio illness & norovirus infections from fish products is increasing consumer inclination towards plant based meat alternatives. Increasing obesity and cardiovascular disease cases in geriatric population is leading to consume plant based meat products to propel industry growth in the region.
 

Competitive Market Share

Global plant based meat market share is fragmented with industry players including DuPont, Garden Protein, Pinnacle, Quorn Foods, Maple Leaf Foods, and Sweet Earth Foods are involved in research and new product development to widen geographical presence, and diversify product portfolio to introduce alternatives for exotic meats such as veal and lobster. Furthermore, manufactures are focusing to cost effective products within stringent regulations to enhance overall industry growth.
 

Plant Based Meat Industry Background


Plant Based Meat Market Segmentation

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Food made from non-meat or animal products such as eggs, cheese, and dairy which acts as an alternative or substitute but has the same protein concentration. Many plant based meat products are derived from wheat, soy, lentils, and oats by fiber spinning or thermoplastic extrusion. 

 


What Information does this report contain?

Historical data coverage: 2014 to 2018; Growth Projections: 2019 to 2025.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.


Premium Report: Details

Pages: 460
Tables: 843
Charts / Figures: 25
Companies covered: 12
Countries covered: 21

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