Plant-based meat products are rich in protein, vitamins, minerals and other essential nutrients, and their consumption is associated with various health benefits, such as reduced chances of developing cardiovascular disorders (CVDs). As a result, they are widely utilized to replace animal proteins across numerous cafes, restaurants and fast food joints.
According to the latest report by IMARC Group, titled “Plant-Based Meat Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global plant-based meat market size reached US$ 8.22 Billion by 2019. Plant-based meat is a vegan meat substitute that is designed to mimic the flavor, texture and appearance of conventional meat, including chicken, beef and pork. It is prepared by processing starch, edible oils, vegetable extracts, plant protein isolates and seasonings with additives, colorants and flavor-enhancing agents.
Plant-Based Meat Market Trends:
various established fast food brands are now introducing vegetarian alternatives for their popular meat-based products, which is creating a positive outlook for the market. For instance, Burger King, an American-fast food restaurant chain, recently introduced the Impossible Whopper, a burger prepared with plant-based patty, which is gaining popularity among the masses. Strategic partnerships between various vegan meat-producing start-ups and prominent food manufacturers are acting as another major growth-inducing factor. Some of the other factors driving the market growth include rising consumer expenditure on food and product premiumization offered by key industry players in the market. On account of the aforementioned factors, the market is expected to grow at a robust rate during the forecast period (2020-2025).
The increasing inclination of the masses toward veganism is one of the primary factors driving the market growth. Furthermore, there is rising health-consciousness among individuals and awareness regarding the adverse health effects of excessive meat consumption. This has facilitated the adoption of vegan and vegetarian products significantly, including plant-based meat, in the daily diet. The market is further driven by the increasing concerns regarding animal welfare and protection and awareness campaigns led by numerous animal welfare organizations, such as People for the Ethical Treatment of Animals (PETA), to reduce animal killing and cruelty.
Top Plant based Meat Companies:
The competitive landscape of the market has been examined in the report with the detailed profiles of the key players operating in the market. Some of these players include Amy’s Kitchen, Inc., Beyond Meat, Inc., Kraft Heinz Company, Conagra Brands, Inc., Impossible Foods Inc, Maple Leaf Foods Inc., Kellogg NA Co., Marlow Foods Limited, The Vegetarian Butcher, and VBites Foods Limited.
Edit your job
Opening message is automatically displayed as your first message in the order detail page.
Welcome to Freelance Global Gigs.
Post your Gigs at Freelance Global Gigs - We have opportunities for everyone.