According to the current analysis of Reports and Data, the global Plant-based Meat Market was valued at USD 10.10 Billion in 2018 and is expected to reach USD 30.92 Billion by the year 2026, at a CAGR of 14.8%. Plant-based meat products are products that are made to mimic the properties of animal meat but are comparatively healthier and environmentally friendly. These are produced to resemble the look, smell, and taste of animal meat.
This report on the Plant-based Meat market delivers a cumulative synopsis of the speculations of this business, overall, along with an evaluation of its segmentations. It predicts the Plant-based Meat market to advance as one of the most profitable verticals, generating massive revenue by the end of the forecast years, exhibiting a sizable growth rate over the calculated period.
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Key participants include Impossible Foods (US), Garden Protein International (US), Beyond Meat (US)Bristol-Myers Squibb, Morningstar Farms (US), Amy’s Kitchen (US), Quorn Foods (UK), Maple Leaf Foods (Canada), Tofurky (US), The Vegetarian Butcher (The Netherlands), Sunfed (New Zealand), VBites (UK), Gold&Green Foods (US).
Further key findings from the report suggest
• This industry is growing at a CAGR of 15.9% in the Asia Pacific followed by North America and Europe, with 14.6% and 14.4% CAGR, respectively. North America and Europe contributed about 2/3rd of the total industry during the forecast period.
• As of 2018, the Soy source type segment is the dominating sub-segment which holds 324% of the global market by 2026. North American regional market is the chief revenue-generating source for this product segment, followed by Europe and Asia-Pacific regions.
• According to the Food revolution Organization report, published in 2018, the number of vegetarians in the United States has increased by 600% from the past 3 years. This is expected to drive the demand for this industry.
• Nestle launched a new burger called ‘Incredible Burger’ which was sold in McDonald’s outlets in Germany in the year 2017. The burger was launched after research and development done for about three years to create it.
• In April 2018, Burger King introduced a new product under the name of ‘Impossible Whopping’ and meat bowls which were made available to all its U.S outlets.
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For the purpose of this report, Reports and Data has segmented the Plant-based Meat market on the basis of source type, product type, storage technique type, end use, and region:
Source Type (Revenue, USD Million; 2016–2026)
• Soy
• Wheat
• Peas
• Gluten-based
• Others
Product Type (Revenue, USD Million; 2016–2026)
• Tofu
• Tempeh
• Seitan
• Mushrooms
• Others
Storage technique Type (Revenue, USD Million; 2016–2026)
• Frozen
• Refrigerated
• Shelf-Stable
• Others
End Use (Revenue, USD Million; 2016–2026)
• Food Industry
• Households
• HoReCa
• Others
Regional Outlook (Revenue in USD Million; 2016–2026)
• North America
o U.S.
o Canada
• Europe
o Germany
o France
o UK
o Spain
o Italy
o Rest of the Europe
• Asia Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Middle East & Africa
• Latin America
o Brazil
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Objective of Studies:
• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Plant-based Meat market.
• To provide insights about factors affecting the market growth. To analyze the Plant-based Meat market based on various factors- price analysis, supply chain analysis, Porte five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, Latin America and Rest of the World.
• To provide country level analysis of the market with respect to the current market size and future prospective.
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.