Plantbased Meat Market

Plantbased Meat Market

Global Market Study on Plant-based Meat: Demand for Nutritious Food Products to Drive Revenue Growth Through 2026

  • XPLREP6310

  • September, 2018

  • 225 Pages

  • Food

This report provides a projection and study of the global plant-based meat market. It provides historical data of 2013, along with estimated data for 2018, and forecast data up to 2026 in terms of revenue (US$ Mn) and volume (MT). The report also consists of macroeconomic indicators, along with an outlook on plant-based meats for the global market. It includes the drivers and restraints of the global plant-based meat market, and their impact on each region during the forecast period. The report also comprises the study of ongoing industry trends and opportunities for the plant-based meat market. It also includes supply chain analysis. For providing users with a widespread view of the plant-based meat market, we have included detailed competitive analysis, along with key players in the market, and analysis on the strategies followed by them. The competitive dashboard provides a detailed comparison of plant-based meat manufacturers on the basis of revenue, product offerings, and key strategies. The study encompasses market attractiveness analysis by nature, product type, application, and region.

A detailed study of the plant-based meat market has provided our analysts with the observation of a shift towards the consumption of plant-based meat over the forecast period. The market is primarily driven by a rise in the demand for healthy food products and increasing vegan population across the globe. In 2012, the vegan population accounted for around 25.6% of the global population. Among them, tofu is perceived to be the most similar alternative for meat, and consequently, other soy food products like tempeh are also gaining popularity, due to its texture, chewiness, and sensory attributes. Soy food products like tempeh and tofu also offer an economic benefit, right from the agricultural to the commercial class in countries like China and South East Asia, where it is also produced as a means of earning a livelihood.

The increasing consumption of unhealthy/ comfort food with high cholesterol has given rise to an alarming state of increasing obese population. Developed countries like the U.S., France, the United Kingdom, and others are facing obesity as one of the chronic disorders among human beings. Government bodies in these nations are taking efforts to make amendments in the food industry regarding the nutrition value content in processed vegetable and meat products. Plant-based meat products are identified as promising ingredients in food products to increase protein content without adding cholesterol. Obesity is expected to become epidemic and challenge the public health sector, as it is increasing in most of the population, from infants to adults. Moreover, cardiovascular diseases linked with obesity, such as diabetes, hypertension, and dyslipidemia, further add as a threat to human health.

Consumers are increasingly shifting their preference towards natural and organic food products, with intense focus on the various health benefits plant-based meat offers. Consumers are inclining towards organically produced goods, and this has been dramatically increasing over the last few decades, owing to health consciousness and increasing awareness. The sales of organic food are expected to continue to show double-digit growth during the forecast period. In fact, the demand for organic food is expanding significantly; consumer demand is exceeding some domestic supplies. According to the Organic Trade Association, in 2016, the U.S. organic food market was valued at US$ 43 Bn, an increase by 8% as compared to the previous year.

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Global Market Study on Plant-based Meat: Demand for Nutritious Food Products to Drive Revenue Growth Through 2026
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