The report published on global Plant-based Meat Market is an extensive analysis of the market with a panoramic overview of the industry with regards to market size, market share, revenue growth, opportunities, drivers, restraints. The Plant-based Meat Market offers precise market scenario crucial real-time information about the developments and advancements in the market to help readers, stakeholders, and investors capitalize on the emerging opportunities. In addition, regional analysis and competitive landscape are covered in the report to offer clear picture of the market growth. Development policies and plans along with manufacturing processes and costs structures are covered in the report.
The global plant-based meat market size was USD 5.04 Billion in 2021 and is expected to register a revenue CAGR of 15.4% during the forecast period. Rising consumer preference toward a nutritional and sustainable diet and increasing adoption of plant-based meats among athletes are a few factors expected to drive market revenue growth during the forecast period. Increasing consumer inclination toward vegan foods and rapid implementation of advanced technologies and rising innovation in new plant-based meat sources are some other factors expected to boost revenue growth of the market during the forecast period. In addition, individuals adopting for plant-based meat to avoid animal cruelty. Plant-based meat provides better immunity and is nutritious and safe compared to conventional meat. These factors are expected to drive the market.
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Increasing consumer preference and expenditure on foods and beverages is another factor that is increasing the demand for these plant-based foods that is boosting the revenue growth of the market. These vegetarian meals are also widely available in fresh cold cuts of deli section in health food stores is also increasing its demand and is expected to drive the revenue growth of the market. Rising adoption of ready-to-eat vegetarian food products, which taste exactly like meat such as burgers, sausages, nuggets, and others is also increasing the demand for plant-based meat and is expected to boost the revenue growth of the market. These vegan-based meat products are found in different flavors and taste exactly like chicken, beef, and pork, which are some other factors expected to augment the revenue growth of the market. Rising adoption of pea and soy-based nutrition for a healthy and sustainable lifestyle also increases the demand for plant-based meat. This is expected to increase its adoption and propel the revenue growth of the market.
Competitive Landscape:
Major players in the market include Impossible Foods, Inc., Maple Leaf Foods, Inc., The Vegetarian Butcher, Gardein Protein International, Kellogg NA, Co. (MorningStar Farms), Quorn Foods, Amy’s Kitchen, Inc., ITC, Turtle Island Foods (Tofurky), Gold Green Foods, Ltd. Oy, and Vbites Foods, Ltd.
The COVID-19 impact Analysis: The growing COVID-19 pandemic has led to the weakening demand for coatings in electronics, automotive, construction, and white goods. The market has the capacity to bounce back, but it completely depends on the duration of the lockdown, and also the impact of the virus on the economy. Even though the overall demand of the market is falling, the demand for Plant-based Meat is expected to rise in the coming years.
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Regional Outlook
For comprehensive understanding of market dynamics, the global Plant-based Meat Market is analysed across key geographies namely: North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). Each of these regions is analysed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Plant-based Meat Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Plant-based Meat Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Plant-based Meat Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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