According to the latest report of the IMARC group, entitled “Plant-Based Meat Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global plant-based meat market reached a value of US$8.5 billion in 2021. Looking ahead, IMARC Group expects the market to reach 34 billion US dollars by 2027, exhibiting at a 25.8% CAGR during the period 2022-2027. Plant-based meat is a meat substitute that resembles it in color, texture, appearance and flavor. It is produced by combining edible oils, vegetable protein isolates, starch and various other seasonings. These products Its consumption helps to reduce cholesterol levels and caloric intake while minimizing the risk of developing cardiovascular diseases. As a preferred alternative to meat result, it is widely used for the preparation of many foods in cafes, restaurants, supermarkets, convenience stores, etc.
We regularly monitor the direct effect of COVID-19[female[feminine in the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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Market Trends and Drivers:
The global market is mainly driven by the growing health consciousness of consumers. This, in conjunction with the increasing and widespread prevalence of chronic lifestyle disorders, has driven the growth of the market. Additionally, the rising trend of veganism among the masses has positively influenced the growth of the market across the globe. Additionally, the growing concern for animal welfare has also increased the demand for plant-based meat products. Moreover, the introduction of different innovative herbal products by several manufacturers to expand their product portfolios has created a positive outlook for the market. Other factors including rapid urbanization, changing lifestyles of consumers, dietary preferences of individuals, and inflation in their disposable income levels have also given impetus to the growth of the market.
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Key Market Segmentation:
The competitive landscape of the industry was also reviewed with some of the major plant meat companies
Some of these key players include:
- Amy’s Kitchen, Inc.
- Beyond meat
- Boca Foods Company (Kraft Foods, Inc.)
- Garden Protein International (Conagra Brands, Inc.)
- Impossible Foods, Inc.
- Maple Leaf Foods
- MorningStar Farms (Kellogg Na Co.)
- Quorn Foods
- The vegetarian butcher
- Vbites Food Limited
Breakdown by product type:
- hamburger patties
- Nuggets and strips
- Minced meat
Breakdown by source:
Breakdown by type of meat:
Breakdown by distribution channel:
- Catering and catering industry
- Supermarkets and Hypermarkets
- Convenience stores and specialty stores
- Online retail
Breakdown by region:
- North America (USA, Canada)
- Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
Main highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Impact of COVID-19 on the market
- Porter’s Five Forces Analysis
- Historical, current and future market trends
- Market drivers and success factors
- SWOT analysis
- Market structure
- Value chain analysis
- Complete mapping of the competitive landscape
Note: If you need specific information that is not currently covered by the report, we can provide it to you as part of the customization.
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