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Plant-based Meat Market Trends

  • Report ID: GMI3466
  • Published Date: Nov 2023
  • Report Format: PDF

Plant-based Meat Market Trends

A growing emphasis on clean-label and minimally processed plant-based meat products is a significant trend. Several countries have now recognized the need to label such products. For instance, according to an article published by National Consumers League, Food & Drug Administration (FDA) announced the issuance of draft guidance on the labeling of plant-based milks and plant-based alternatives to “animal-derived foods” (meats) in 2022. Consumers are increasingly scrutinizing ingredient lists and are drawn to products with simple, recognizable components which has led to a surge in product innovation. The manufacturers are working to create plant-based meats that are not only healthy but also transparent in terms of the ingredients.

Additionally, there is a surge in collaborations between foodservice establishments and plant-based meat producers. As per the study published by National Consumers League, Bloomberg Intelligence report anticipates a 500% surge in worldwide sales of plant-based foods by 2030. Many restaurants, fast-food chains, and food delivery platforms are now incorporating plant-based meat options into their menus to cater to the preferences of consumers seeking sustainable and meatless choices. This trend encourages wider acceptance of plant-based meats for convenient dining-out options that align with their dietary and environmental concerns, thereby shaping the market dynamics.

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

The market size of plant-based meat is set to grow at 10.5% CAGR during 2023 to 2032, propelled by the rising health awareness as well as growing environmental concerns among the consumers.

The pea-based meat segment is poised to record over 10.5% CAGR through 2032, owing to the consumer inclination towards vegetarian & vegan diets as well as an increased health consciousness.

North American market size will expand at over 10% CAGR till 2032. Led by the United States and Canada, North America has been a hotbed of innovation in plant-based meat development, favored by the region's health-conscious and eco-friendly consumer base.

DuPont, Garden Protein, Pinnacle, Maple Leaf Food, Sweet Earth Food, Beyond Meat, Quorn, and Nestle are the key market players.

Plant-based Meat Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 12
  • Tables & Figures: 868
  • Countries covered: 21
  • Pages: 460
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