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Plant-based Nuggets Market Size - By Product type (Refrigerated Plant-Based Nuggets, Frozen Plant-Based Nuggets), By Flavor (Original/Unflavored, Spicy, Barbecue, Teriyaki, Buffalo), Source, Distribution Channel & Global Forecast, 2023 – 2032

  • Report ID: GMI6300
  • Published Date: Jul 2023
  • Report Format: PDF

Plant-based Nuggets Market Size

Plant-based Nuggets Market size was valued at USD 430 million in 2022 and is estimated to expand at a CAGR of 5.6% between 2023 and 2032. Growing awareness of the health benefits of plant-based diets, including reduced cholesterol, saturated fat, and potential lower risk of certain diseases, has led consumers to seek healthier alternatives to traditional meat-based nuggets. Increased awareness of animal welfare issues in the meat industry has prompted consumers to opt for plant-based nuggets as a cruelty-free alternative.
 

Plant-based Nuggets Market

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Concerns about the environmental impact of animal agriculture, such as greenhouse gas emissions, deforestation, and water usage, have motivated consumers to choose plant-based options like nuggets as a more sustainable and eco-friendly choice.

 

Plant-based nugget manufacturers often compete with well-established meat-based nugget brands, which have significant market share and brand loyalty. Convincing consumers to switch to plant-based options can be challenging. Plant-based nuggets may be more expensive to produce than traditional meat-based nuggets due to the cost of plant-based ingredients and specialized production processes. This can make them less affordable for some consumers. Sourcing high-quality plant-based ingredients at scale can be a challenge.
 

COVID-19 Impact

During the pandemic, there was a heightened focus on health and wellness, leading many consumers to reevaluate their dietary choices. This increased health awareness boosted the demand for plant-based products, including nuggets, as consumers sought healthier alternatives to traditional meat-based options. COVID-19 prompted shifts in consumer preferences and behaviors. Some consumers turned to plant-based diets to reduce their environmental impact and support sustainable food choices, contributing to increased demand for plant-based nuggets. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is anticipated to drive the market growth.
 

Plant-based Nuggets Market Trends

Manufacturers are continuously innovating and expanding their product offerings to provide a diverse range of plant-based nuggets with various flavors, textures, and ingredient combinations. This trend caters to different consumer tastes and culinary preferences. Consumers are increasingly seeking plant-based nuggets with clean labels, featuring recognizable and natural ingredients. Brands that prioritize transparency in ingredient sourcing and manufacturing processes are gaining consumer trust.
 

Plant-based Nuggets Market Analysis

Global Plant-based Nuggets Market Size, By Source, 2021 - 2032 (USD Million)

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Soy-based nuggets segment held significant of the plant-based nuggets market share in 2022. Soy-based nuggets have been on the market for longer and are well-known among consumers, making them readily available and familiar. Soy-based ingredients provide a good source of protein, attracting consumers seeking a meat-like texture and substantial protein content in plant-based options.
 

Global Plant-based Nuggets Market Revenue Share, By Product Type, (2022)

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Based on product type, the plant-based nuggets market is segmented as refrigerated and frozen. Refrigerated plant-based nuggets are perceived to be fresher and of higher quality compared to frozen alternatives. Consumers seeking a more natural and less processed option are drawn to refrigerated products. Refrigerated plant-based nuggets are typically minimally processed, which resonates with consumers looking for whole-food-based alternatives without the need for freezing and long-term storage.
 

The plant-based nuggets market from original flavor segment is anticipated to grow at 4.9% CAGR through 2032. Classic savory flavors, such as original, barbecue, or buffalo, appeal to consumers seeking the taste of traditional meat-based nuggets. Classic savory flavors are often popular among children and families, offering a sense of familiarity and comfort.
 

The plant-based nuggets market from convenience stores segment will gain remarkable momentum during the forecast timeline. Plant-based nuggets in convinience stores benefit from wide availability, making them accessible to a broad consumer base.
 

U.S. Plant-based Nuggets Market Size, 2020- 2032 (USD Million)

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U.S. plant-based nuggets market size dominated around USD 94.7 million in 2022. Consumers in North America are increasingly adopting plant-based diets to support their health and well-being. Plant-based nuggets are perceived as a healthier alternative to traditional meat-based nuggets, as they are often lower in saturated fat and cholesterol. Thus, the above-mentioned variables would augment the Plant-based nuggets business growth in the North America positively.
 

Plant-based nuggets Market Share

Some of the major companies operating in the plant-based nuggets market are

  • Abbott Laboratories
  • BAG Healthcare GmBH
  • Bio-Rad Laboratories, Inc
  • Danaher Corporation
  • Diagnostica Stago
  • DiaSorin S.p.A.
  • F. Hoffmann-La Roche Ltd
  • Grifols S.A.
  • Hologic, Inc.
  • Immucor Inc.
  • Merck KGaA
  • Ortho Clinical Diagnostics
  • Quotient Ltd
  • Thermo Fisher Scientific Inc.

These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Plant-based nuggets Industry News:

  • In 2021, the American fast-food chain Burger King has launched plant-based chicken nuggets that are soft and meat-like from the inside and give a delicious vegetable-based option for all meat lovers who want to decrease their meat consumption.
     

This plant-based nuggets market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:

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Market, By Source

  • Soy-Based Nuggets
  • Wheat-Based Nuggets
  • Pea-Based Nuggets
  • Chickpea-Based Nuggets
  • Lentil-Based Nuggets
  • Others

Market, By Product type

  • Refrigerated
  • Frozen

Market, By Flavor

  • Original/Unflavored
  • Spicy
  • Barbecue
  •  Teriyaki
  •  Buffalo
  • Others

Market, By Distribution Channel

  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Online Retailers
  • Specialty Stores
  • Foodservice Providers
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Malaysia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Egypt

 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of plant-based nuggets reached USD 430 million in 2022 and is estimated to cross USD 744 million by the end of 2032, as consumers are seeking healthier alternatives to traditional meat-based nuggets.
Original flavor segment is anticipated to grow at 4.9% CAGR through 2032 as the classic savory flavors, such as original, barbecue, or buffalo, appeal to consumers seeking the taste of traditional meat-based nuggets.
U.S. market accounted for a revenue of USD 94.7 million in 2022 and is anticipated to expand at a significant pace from 2023 to 2032. Plant-based nuggets are perceived as a healthier alternative to traditional meat-based nuggets, as they are often lower in saturated fat and cholesterol.
Abbott Laboratories, BAG Healthcare GmBH, Bio-Rad Laboratories, Inc, Danaher Corporation, Diagnostica Stago, DiaSorin S.p.A., F. Hoffmann-La Roche Ltd, Grifols S.A., Hologic, Inc., Immucor Inc., Merck KGaA, Ortho Clinical Diagnostics, Quotient Ltd., and Thermo Fisher Scientific Inc.

Plant-based Nuggets Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 246
  • Countries covered: 21
  • Pages: 150
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