North America Plant-Based Ham Market Forecast to 2028 - COVID-19 Impact and Regional Analysis

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The North America plant-based ham market is expected to grow from US$ 170.65 million in 2022 to US$ 371.16 million by 2028. It is estimated to grow at a CAGR of 13.8% from 2022 to 2028.

Switch to Vegetarianism and Veganism is Driving the North America Plant-Based Ham Market

Many dieticians and health practitioners recommend reducing meat consumption and switching to a vegetarian diet to reduce the risks of chronic health issues, such as obesity, heart diseases, hypertension, and digestive disorders. According to a 2018 Gallup poll, 5% of adults in the US identified themselves as vegetarians. Based on the Harris Poll conducted on behalf of the Vegetarian Resource Group, as of March 2019, 2% of American citizens announced themselves as vegans. Recently, the rising health concerns among people due to the increasing prevalence of obesity, diabetes, and other diseases are compelling people to change their dietary habits. Plant-based ham is generally perceived to be healthier than their animal-based counterparts. Plant-based ham has lower saturated fat and calorie content than conventional ham. The increasing adoption of veganism is also attributed to the empathy toward animals and awareness of the ill-treatment of animals in slaughterhouses and similar facilities, which has raised concerns about animal protection among consumers. These factors are boosting the consumption of plant-based ham. Thus, a switch to veganism and vegetarianism is bolstering the North America plant-based ham market .

North America Plant-Based Ham Market Overview

According to the "Plant Based Foods Association," retail sales of plant-based foods in the US increased by 11% in 2019, compared to the sales reported in 2018, hitting a market value of US$ 4.5 billion. The high nutritional value of plant-based ham products, such as slices & strips, rolls, and roasts, has triggered their demand growth in North America over the last few years, especially among young adults. The North America plant-based ham market in North America comprises several start-ups and established players. Companies operating in the region include Hain Celestial Canada ULC; Tofurky Co., Inc.; Lightlife Foods Inc.; and Vbites Foods Ltd. The COVID-19 pandemic has favored the North America plant-based ham market growth in this region due to a shift in consumer preference toward healthier alternatives to conventional meat and meat products (processed meat) to avoid consuming food of animal origin. According to projections of the World Health Organization (WHO), those who consume ~14 pounds of red meat each day are at a 17% greater risk of developing colon cancer throughout their lifetime. Nevertheless, colon cancer is only one of several diseases that are linked to regular meat, pork, or beef intake. People from North American countries are well aware of the harmful effects of frequent meat consumption due to significant public awareness initiatives and publicity campaigns. The rising vegan population is another factor boosting the demand for plant-based ham products in North American countries.

North America Plant-Based Ham Market Revenue and Forecast to 2028 (US$ Million)

North America Plant-Based Ham Market Segmentation

The North America plant-based ham market is segmented into product type, distribution channel, and country.

Based on product type, the North America plant-based ham market is segmented into slices and strips, rolls, and roasts. In 2022, the slices and strips segment registered a largest share in the North America plant-based ham market.

Based on distribution channel, the North America plant-based ham market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. In 2022, the supermarkets and hypermarkets segment registered a largest share in the North America plant-based ham market.

Based on country, the North America plant-based ham market is segmented into the US, Canada, and Mexico. In 2022, the US segment registered a largest share in the North America plant-based ham market.

Gourmet Evolution LLC; Hain Celestial Canada ULC; Lightlife Foods Inc; Nestle SA; Quorn Foods Ltd; Tofurky Co Inc; VBites Foods Ltd; and Worthington Food Inc are the leading companies operating in the North America plant-based ham market.

Reasons to Buy:

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America plant-based ham market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the North America plant-based ham market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth North America market trends and outlook coupled with the factors driving the plant-based ham market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

Product Code: BMIRE00028136

1. Introduction

1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
- 1.3.1 North America Plant-Based Ham Market, by Product Type
- 1.3.2 North America Plant-Based Ham Market, by Distribution Channel
- 1.3.3 North America Plant-Based Ham Market, by Country

2. Key Takeaways

3. Research Methodology

3.1 Scope of the Study
3.2 Research Methodology
- 3.2.1 Data Collection:
- 3.2.2 Primary Interviews:
- 3.2.3 Hypothesis formulation:
- 3.2.4 Macro-economic factor analysis:
- 3.2.5 Developing base number:
- 3.2.6 Data Triangulation:
- 3.2.7 Country level data:

4. North America Plant-Based Ham Market Landscape

4.1 Market Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Major Raw Material
- 4.3.2 Manufacturing/Processing
- 4.3.3 Packaging
4.4 Expert Opinions

5. North America Plant-Based Ham Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Environmental Impact of Livestock Industry and Acceptance of Sustainable Food Habits
- 5.1.2 Switch to Vegetarianism and Veganism
5.2 Market Restraints
- 5.2.1 Limited Availability in Emerging Economies
5.3 Market Opportunities
- 5.3.1 Surging Demand in Developed Economies
5.4 Future Trends
- 5.4.1 Product Innovation
5.5 Impact Analysis of Drivers and Restraints

6. Plant-Based Ham- North America Market Analysis

6.1 North America Plant-Based Ham Market -Revenue and Forecast to 2028 (US$ Million)

7. North America Plant-Based Ham Market Analysis - By Product Type

7.1 Overview
7.2 North America Plant-Based Ham Market, By Product Type (2021 and 2028)
7.3 Slices and Strips
- 7.3.1 Overview
- 7.3.2 Slices and Strips: North America Plant-Based Ham Market - Revenue and Forecast to 2028 (US$ Mn)
7.4 Rolls
- 7.4.1 Overview
- 7.4.2 Rolls: North America Plant-Based Ham Market - Revenue and Forecast to 2028 (US$ Mn)
7.5 Roasts
- 7.5.1 Overview
- 7.5.2 Roasts: North America Plant-Based Ham Market - Revenue and Forecast to 2028 (US$ Mn)

8. North America Plant-Based Ham Market Analysis - By Distribution Channel

8.1 Overview
8.2 North America Plant-Based Ham Market, By Distribution Channel (2021 and 2028)
8.3 Supermarkets and Hypermarkets
- 8.3.1 Overview
- 8.3.2 Supermarkets and Hypermarkets: North America Plant-Based Ham Market- Revenue and Forecast to 2028 (US$ Mn)
8.4 Convenience Stores
- 8.4.1 Overview
- 8.4.2 Convenience Stores: North America Plant-Based Ham Market- Revenue and Forecast to 2028 (US$ Mn)
8.5 Online Retail
- 8.5.1 Overview
- 8.5.2 Online Retail: North America Plant-Based Ham Market- Revenue and Forecast to 2028 (US$ Mn)
8.6 Others
- 8.6.1 Overview
- 8.6.2 Others: North America Plant-Based Ham Market- Revenue and Forecast to 2028 (US$ Mn)

9. North America Plant-Based Ham Market - Country Analysis

9.1 Overview
- 9.1.1 North America: Plant-Based Ham Market, by Key Country
  - 9.1.1.1 US: Plant-Based Ham Market - Revenue and Forecast to 2028 (US$ Million)
    - 9.1.1.1.1 US: Plant-Based Ham Market, By Product Type
    - 9.1.1.1.2 US: Plant-Based Ham Market, by Distribution Channel
  - 9.1.1.2 Canada: Plant-Based Ham Market - Revenue and Forecast to 2028 (US$ Million)
    - 9.1.1.2.1 Canada: Plant-Based Ham Market, By Product Type
    - 9.1.1.2.2 Canada: Plant-Based Ham Market, by Distribution Channel
  - 9.1.1.3 Mexico: Plant-Based Ham Market - Revenue and Forecast to 2028 (US$ Million)
    - 9.1.1.3.1 Mexico: Plant-Based Ham Market, By Product Type
    - 9.1.1.3.2 Mexico: Plant-Based Ham Market, by Distribution Channel

10. Industry Landscape

10.1 Product launch
10.2 Collaboration
10.3 Partnership

11. Company Profiles

11.1 Hain Celestial Canada ULC
- 11.1.1 Key Facts
- 11.1.2 Business Description
- 11.1.3 Products and Services
- 11.1.4 Financial Overview
- 11.1.5 SWOT Analysis
- 11.1.6 Key Developments
11.2 Tofurky Co Inc
- 11.2.1 Key Facts
- 11.2.2 Business Description
- 11.2.3 Products and Services
- 11.2.4 Financial Overview
- 11.2.5 SWOT Analysis
- 11.2.6 Key Developments
11.3 Lightlife Foods Inc
- 11.3.1 Key Facts
- 11.3.2 Business Description
- 11.3.3 Products and Services
- 11.3.4 Financial Overview
- 11.3.5 SWOT Analysis
- 11.3.6 Key Developments
11.4 VBites Foods Ltd
- 11.4.1 Key Facts
- 11.4.2 Business Description
- 11.4.3 Products and Services
- 11.4.4 Financial Overview
- 11.4.5 SWOT Analysis
- 11.4.6 Key Developments
11.5 Nestle SA
- 11.5.1 Key Facts
- 11.5.2 Business Description
- 11.5.3 Products and Services
- 11.5.4 Financial Overview
- 11.5.5 SWOT Analysis
- 11.5.6 Key Developments
11.6 Quorn Foods Ltd
- 11.6.1 Key Facts
- 11.6.2 Business Description
- 11.6.3 Products and Services
- 11.6.4 Financial Overview
- 11.6.5 SWOT Analysis
- 11.6.6 Key Developments
11.7 Gourmet Evolution LLC
- 11.7.1 Key Facts
- 11.7.2 Business Description
- 11.7.3 Products and Services
- 11.7.4 Financial Overview
- 11.7.5 SWOT Analysis
- 11.7.6 Key Developments
11.8 Worthington Food Inc
- 11.8.1 Key Facts
- 11.8.2 Business Description
- 11.8.3 Products and Services
- 11.8.4 Financial Overview
- 11.8.5 SWOT Analysis
- 11.8.6 Key Developments

12. Appendix

12.1 About The Insight Partners
12.2 Glossary of Terms