Plant-based Meat Market Size - By Source (Soy, Wheat, Pea ) & Forecast, 2023-2032

Description

Global Plant-based Meat Market will witness over 10.5% CAGR between 2023 and 2032, fueled by companies tapping into global demand through extensive exports and imports.

Rising consumer interest in sustainable, plant-centric diets drives this surge. For instance, in June 2023, Wakao Foods, based in Goa, marked a pivotal moment by shipping its largest-ever consignment of jackfruit plant-based meat to the United States. Weighing 13 tonnes, the shipment comprised a diverse range of products-nuggets, sausages, and burgers. This achievement stands as a milestone for Wakao Foods, representing the inaugural instance of an Indian plant-based meat company exporting such a substantial volume to the US.

Companies strategically export and import plant-based meats to meet diverse dietary preferences worldwide. As demand soars, these firms adapt, sourcing innovative products to cater to various markets. This dynamic exchange highlights the market's evolution, showcasing a global shift towards eco-conscious eating and the increasing availability of plant-based alternatives on a global scale.

The overall Plant-based Meat Market share is classified based on the type, distribution channel, and region.

Chicken segment will undergo significant development from 2023 to 2032. Mimicking the taste, texture, and versatility of chicken, these plant-based offerings cater to consumers seeking sustainable protein options. As health and environmental concerns drive dietary shifts, these substitutes satisfy cravings while aligning with ethical and eco-friendly choices. Innovations in plant-based chicken-like products, from nuggets to fillets, resonate with a diverse audience, reflecting a growing preference for meat-free alternatives that don't compromise taste or culinary experience.

Plant-based meat market size from the grocery stores segment will register a noteworthy CAGR from 2023 to 2032. As consumer interest in sustainable, plant-centric diets surges, these stores expand their offerings, dedicating shelves to a diverse array of plant-based meat substitutes. From burgers to sausages and beyond, these products cater to health-conscious individuals seeking ethical and eco-friendly protein sources. Grocery stores adapt to this trend, stocking innovative plant-based alternatives, meeting the growing demand, and showcasing the increasing accessibility and popularity of these products among diverse shoppers seeking healthier and environmentally conscious choices.

Asia Pacific plant-based meat industry will showcase a commendable CAGR from 2023 to 2032. Amid a cultural landscape deeply rooted in meat consumption, shifting preferences toward sustainable diets drive this expansion. With a growing awareness of health and environmental concerns, consumers seek plant-based alternatives. Innovative products mirroring local cuisines, like tofu-based dishes or jackfruit-based substitutes, resonate with diverse palates. As the market evolves, Asia Pacific embraces these ethical and healthier options, marking a notable shift towards plant-centric diets in a region traditionally inclined towards meat-based cuisines.

Product Code: 3466

Chapter 1 Methodology & Scope

1.1 Methodology
1.2 Market definitions
1.3 Market estimation & forecast parameters
1.4 Data Sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid Sources
  - 1.4.2.2 Public Sources

Chapter 2 Executive Summary

2.1 Plant based meat industry 360 degree synopsis, 2023 - 2032
- 2.1.1 Business trends
- 2.1.2 Regional trends
- 2.1.3 Source trends

Chapter 3 Plant Based Meat Industry Insights

3.1 Industry segmentation
3.2 Industry size & forecast, 2018 - 2032
3.3 Industry ecosystem analysis
- 3.3.1 Vendor matrix
- 3.3.2 Distribution channel analysis
  - 3.3.2.1 Collaboration/Partnership
  - 3.3.2.2 Distributors
  - 3.3.2.3 Technology Providers
  - 3.3.2.4 Suppliers
  - 3.3.2.5 Joint venture
3.4 Innovation & sustainability
3.5 Raw material analysis
3.6 Regulatory landscape
- 3.6.1 U.S.
- 3.6.2 Europe
3.7 Pricing analysis
- 3.7.1 Soy plant-based meat
- 3.7.2 Wheat plant-based meat
- 3.7.3 Pea plant-based meat
- 3.7.4 Other plant-based meat
3.8 Industry impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 North America: Growing obesity rate and increasing demand for plant proteins
  - 3.8.1.2 Europe: Adoption of healthy lifestyle and changing dietary preferences
  - 3.8.1.3 Asia Pacific: Growing demand for organic food products and significant vegetarian population
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 Increasing popularity of lean meats and growing prevalence of soy & wheat gluten allergy
3.9 Growth potential analysis, 2022
- 3.9.1 Emerging business model
  - 3.9.1.1 Acquisition
  - 3.9.1.2 New product launch
  - 3.9.1.3 Joint venture
3.10 Porter's analysis
3.11 Competitive landscape, 2022
- 3.11.1 Company market share analysis, 2022
- 3.11.2 Strategy dashboard
3.12 PESTEL analysis
3.13 Patent landscape