Global Meat-Free Foods Market - Forecast(2023 - 2028)
Global Meat-Free Foods Market Overview
The Global Meat-Free Foods Market size is estimated to reach $8,450 million by 2027. Furthermore, it is poised to grow at a CAGR of 9.9% over the forecast period of 2022-2027. Meat-free foods are considered plant-based foods that include vegetables, fruits, nuts, beans, herbs, spices, and grains and are mostly consumed by vegetarians. Plant-based meat is increasingly becoming a part of a vegan diet, in which people live a vegetarian lifestyle free of animal products. Plant-based diets are high in fiber and phytonutrients, and they include all of the required protein, fats, carbs, vitamins, and minerals for optimal health. Pea protein is a great plant-based protein for people who have dairy or soy allergies or intolerances. Mycoprotein is a protein-rich, sustainable dietary source generated from fungi that helps to lower total cholesterol levels, especially in people with hyperlipidemia. Meat-free products include cottage cheese that contains plenty of fresh herbs and is used as a dip for vegetables or bread. One of the most appealing reasons for vegetarians' interest in soy and soy cuisine is the protein quality of soybeans. Meat-free goods provide a full meat gourmet experience without the use of any animals. Owing to the transformation of eating habits, the demand for plant-based or meat-free products is growing to provide new avenues to market growth. Changing patterns of consuming food among consumers and the growing trend of avoiding animal-based food gives rise to the need for meat-free products are some of the factors driving the Global Meat-Free Foods Industry forward in the projected period of 2022-2027.
Report Coverage
The report: “Global
Meat-Free Foods Market Forecast
(2022-2027)", by
Industry ARC covers an in-depth analysis of the following segments of the Global
Meat-Free Foods Market.
By Source- Soy, Pea, Wheat, and Others.
By Product- Plant-based Burgers,
Plant-based Patties, Plant-based Sausages, and Others.
By
Geography- North America (U.S., Canada, Mexico), Europe (Germany,
United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia
Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest
of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America),
and Rest of the World (the Middle East, and Africa).
Key Takeaways
- Geographically, North America held a dominant market share in the year 2021. It is owing to increased consumer awareness of the hazards of consuming poisoned meat products, as well as the high consumption of vegetarian meat products. In reaction to the increased consumption of plant-based foods, particularly plant-based meat, consumers' perceptions of food sustainability and safety are projected to shift even more. Starbucks added a breakfast sandwich to its menu in the majority of its U.S. stores in 2020. To suit consumer demand, the sandwich includes plant-based sausage.
- Growing awareness about the benefits of meat-free products and an increasing vegan population are some of the factors driving the Global Meat-Free Foods Market. However, the high cost of meat-free products is one of the factors impeding the market growth.
- A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Global Meat-Free Foods Market Report.
Global Meat-Free Foods Market, Revenue Share - By Geography (%) for 2021.
Global Meat-Free Foods Market Segment Analysis- By Source
The global meat-free foods market based on the source can
be further segmented into Soy, Pea, Wheat, and Others. Soy held a dominant
market share in the year 2021. Soy is a great source of branch amino acids
(BCAAs) and is expected to expand steadily over the projected period owing to
its capacity to improve exercise performance, rehabilitation from a tough
workout, or develop and strengthen muscle mass. In comparison to traditional
animal- and dairy-based food items, soy-based meat products not only cut
formulation costs but also have a lower carbon footprint. The overall
soya segment is projected to rise owing to its excellent eating features,
like improved microwave-ability and slice-ability. Soy products such as tofu,
soy milk, edamame, and many more are used for human food products and the
consumption of soy is increased at a rate of 7% in 2020.
However, Pea is estimated to be the fastest-growing, with a
CAGR of 10.1% over the forecast period of 2022-2027. It is owing to the rapid
growth in consumption of pea-based meat products attributed to many properties such as high protein
content, likeness in texture as well as consistency to meat, easy
availability, and quick cooking. Pea protein also helps to build muscle, is
easy to digest, and benefits heart health. Furthermore, it is a good source of
iron which gives rise to the demand for pea protein. In the bakery sector, the
sales of pea protein roses by 9% in 2021 as the demand for bakery food
increases among the vegan population owing to its meat-free properties.
Global Meat-Free Foods Market Segment Analysis- By Product
The global meat-free foods market based on end-users can be
further segmented into Plant-based Burgers, Plant-based Patties, Plant-based Sausages,
and Others. Plant-based burgers held a dominant market share in the year
2021. Plant-based burger ingredients replicate the scent, flavor, and
"bleeding" texture of meat. The plant-based burger is created with a
genetically modified version of heme-iron that helps restore heme-iron found in
animals, giving it a characteristic meaty flavor. As the demand for fast food
products grows among vegans, various companies are introducing notable
plant-based burgers.
However,
Plant-based sausages are estimated to be the fastest-growing, with a CAGR of 10.5% over the forecast period of 2022-2027. The plant-based sausages are made
to look, feel, sizzle, and satisfy in the same way that traditional sausage
does. Companies' increasing investment in introducing new and novel
flavors to their plant-based sausages, such as hot Italian, sweet Italian,
and spinach pesto, is expected to boost product demand.
Global Meat-Free Foods Market Segment Analysis- By Geography
The global meat-free foods market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 39% in the year 2021 as compared to its other counterparts. It is owing to increasing investment among companies in plant-based products. Moreover, among consumers, the awareness of risks in eating meat products is growing which in turn is giving rise to the demand for meat-free products. Also, consumers are preferring food that is safe and healthy for their health which in turn soars demand for meat-free products. For instance, in 2020, Starbucks added plant-based sausage sandwiches to its breakfast menu to meet consumer demand for meat-free foods.
Global Meat-Free Foods Market Drivers
Growing Awareness about the Health Benefits of Meat-Free Foods has Readily Aided the Market Growth
People are eating more fruits, vegetables, legumes, nuts, and seeds as a result of the meat-free food or plant-based trend. Plant-based goods also have a variety of health benefits, which consumers are becoming more aware of recently. Obesity, type 2 diabetes, heart disease, and some malignancies are all linked to excessive intake of animal-based meat. According to World Health Organization, in 2020 more than 1.9 billion adults are suffering from obesity owing to the consumption of excessive animal-based foods. Plant-based meat products, such as burgers, sausages, and nuggets, are rapidly replacing conventionally processed meat products. Saturated fat, cholesterol, and calories are all lower in plant-based meat than in animal-based meat. Micronutrients like zinc, iron, and calcium are frequently found in higher concentrations in them. Owing to its benefits, the consumption of meat-free foods soars among the population.
Increasing Number of Vegan Population Gives Rise to the Demand of Meat-Free Foods Which is Set to Drive the Market Growth
Vegan diets are increasing in popularity owing to the
growing vegan population. Nowadays, people are shifting to plant-based diets
so, they always looking for meat-free options when they grocery shop and go out
to eat. The vegan retail food business rose by 11.4 percent in March 2020,
according to the Plant-Based Foods Association (PBFA). About 14% of the world’s
population are vegans and consumed only meat-free products. Owing to this,
manufacturers are focusing on innovating products that are free from animal-based.
Global Meat-Free Foods Market Challenges
The high Cost of Meat-Free Foods is one of the factors impeding the market growth
Plant-based meat is more costly than traditional meat. Owing to
trade barriers, disruptions in the supply of raw materials, and inefficient
distribution networks caused by COVID-19, plant-based meat prices are
anticipated to rise even more. The global market's expansion is projected to be
hampered by the scarcity and high cost of raw materials, as well as high
production expenses. In 2020, the average price of a meat replacement sold in a
grocery store's meat department in the United States was $9.87 per pound which
is expensive and thus hampering the market growth.
Global Meat-Free Foods Industry Outlook
Product launches, mergers and acquisitions, joint ventures,
and geographical expansions are key strategies adopted by players in the Global
Meat-Free Foods Market. The top 10- Global Meat-Free Foods Market companies are-
- Impossible Foods Inc.,
- Beyond Meat,
- Planterra Foods,
- Beyond Meat Food Co. Ltd.,
- Kellog Co.,
- Maple Leaf Foods,
- Quorn Foods,
- Tofurky,
- Alpha Foods,
- Hooray Foods.
Recent Developments
- In October 2020, Impossible Foods Inc. expanded its presence by developing plant-based burgers. The company's product is sold in around 600 Sobeys family shops as well as through the retailer's online grocery home delivery service.
- In September 2020, Planterra Foods had partnered with the NFL team Denver Broncos. This cooperation has earned OZO the designation of Denver Broncos' Plant-Based Food Choice. This technique allows the company to promote its brand and raise client awareness.
- In August 2020, Beyond Meat launched a new e-commerce site to make its plant-based meat products more accessible to consumers. The website helps to give consumers easy access to the vast portfolio of plant-based meat products and makes it more convenient for them to experience Beyond Meat.
Relevant Titles
Meat
Substitute Market- Forecast (2022-2027)
Report Code- FBR 0062
Soy
Protein Market- Forecast (2022-2027)
Report Code- FBR 0056
Packaged
Vegan Foods Market- Forecast (2022-2027)
Report Code- FBR
0304
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LIST OF TABLES
1.Global Key Manufacturers Market 2019-2024 ($M)1.1 Gardein Market 2019-2024 ($M) - Global Industry Research
1.2 VBites Foods Market 2019-2024 ($M) - Global Industry Research
1.3 Beyond Meat Market 2019-2024 ($M) - Global Industry Research
1.4 Marlow Foods Market 2019-2024 ($M) - Global Industry Research
1.5 Clearspring Market 2019-2024 ($M) - Global Industry Research
1.6 BOCA Market 2019-2024 ($M) - Global Industry Research
1.7 Aldi Market 2019-2024 ($M) - Global Industry Research
1.8 Hain Celestial Market 2019-2024 ($M) - Global Industry Research
1.9 Fry Group Foods Market 2019-2024 ($M) - Global Industry Research
1.10 Cedar Lake Foods Market 2019-2024 ($M) - Global Industry Research
1.11 Atlantic Natural Foods Market 2019-2024 ($M) - Global Industry Research
1.12 Bean Supreme Market 2019-2024 ($M) - Global Industry Research
1.13 Butler Foods Market 2019-2024 ($M) - Global Industry Research
1.14 Fantastic Foods Market 2019-2024 ($M) - Global Industry Research
1.15 Field Roast Market 2019-2024 ($M) - Global Industry Research
1.16 Dragonfly Foods Market 2019-2024 ($M) - Global Industry Research
2.Global Market by Type Market 2019-2024 ($M)
2.1 Veganism Market 2019-2024 ($M) - Global Industry Research
2.2 Buddhist Vegetarianism Market 2019-2024 ($M) - Global Industry Research
2.3 Lacto Vegetarianism Market 2019-2024 ($M) - Global Industry Research
2.4 Ovo Vegetarianism Market 2019-2024 ($M) - Global Industry Research
3.Global Key Manufacturers Market 2019-2024 (Volume/Units)
3.1 Gardein Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 VBites Foods Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 Beyond Meat Market 2019-2024 (Volume/Units) - Global Industry Research
3.4 Marlow Foods Market 2019-2024 (Volume/Units) - Global Industry Research
3.5 Clearspring Market 2019-2024 (Volume/Units) - Global Industry Research
3.6 BOCA Market 2019-2024 (Volume/Units) - Global Industry Research
3.7 Aldi Market 2019-2024 (Volume/Units) - Global Industry Research
3.8 Hain Celestial Market 2019-2024 (Volume/Units) - Global Industry Research
3.9 Fry Group Foods Market 2019-2024 (Volume/Units) - Global Industry Research
3.10 Cedar Lake Foods Market 2019-2024 (Volume/Units) - Global Industry Research
3.11 Atlantic Natural Foods Market 2019-2024 (Volume/Units) - Global Industry Research
3.12 Bean Supreme Market 2019-2024 (Volume/Units) - Global Industry Research
3.13 Butler Foods Market 2019-2024 (Volume/Units) - Global Industry Research
3.14 Fantastic Foods Market 2019-2024 (Volume/Units) - Global Industry Research
3.15 Field Roast Market 2019-2024 (Volume/Units) - Global Industry Research
3.16 Dragonfly Foods Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Market by Type Market 2019-2024 (Volume/Units)
4.1 Veganism Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Buddhist Vegetarianism Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Lacto Vegetarianism Market 2019-2024 (Volume/Units) - Global Industry Research
4.4 Ovo Vegetarianism Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Key Manufacturers Market 2019-2024 ($M)
5.1 Gardein Market 2019-2024 ($M) - Regional Industry Research
5.2 VBites Foods Market 2019-2024 ($M) - Regional Industry Research
5.3 Beyond Meat Market 2019-2024 ($M) - Regional Industry Research
5.4 Marlow Foods Market 2019-2024 ($M) - Regional Industry Research
5.5 Clearspring Market 2019-2024 ($M) - Regional Industry Research
5.6 BOCA Market 2019-2024 ($M) - Regional Industry Research
5.7 Aldi Market 2019-2024 ($M) - Regional Industry Research
5.8 Hain Celestial Market 2019-2024 ($M) - Regional Industry Research
5.9 Fry Group Foods Market 2019-2024 ($M) - Regional Industry Research
5.10 Cedar Lake Foods Market 2019-2024 ($M) - Regional Industry Research
5.11 Atlantic Natural Foods Market 2019-2024 ($M) - Regional Industry Research
5.12 Bean Supreme Market 2019-2024 ($M) - Regional Industry Research
5.13 Butler Foods Market 2019-2024 ($M) - Regional Industry Research
5.14 Fantastic Foods Market 2019-2024 ($M) - Regional Industry Research
5.15 Field Roast Market 2019-2024 ($M) - Regional Industry Research
5.16 Dragonfly Foods Market 2019-2024 ($M) - Regional Industry Research
6.North America Market by Type Market 2019-2024 ($M)
6.1 Veganism Market 2019-2024 ($M) - Regional Industry Research
6.2 Buddhist Vegetarianism Market 2019-2024 ($M) - Regional Industry Research
6.3 Lacto Vegetarianism Market 2019-2024 ($M) - Regional Industry Research
6.4 Ovo Vegetarianism Market 2019-2024 ($M) - Regional Industry Research
7.South America Key Manufacturers Market 2019-2024 ($M)
7.1 Gardein Market 2019-2024 ($M) - Regional Industry Research
7.2 VBites Foods Market 2019-2024 ($M) - Regional Industry Research
7.3 Beyond Meat Market 2019-2024 ($M) - Regional Industry Research
7.4 Marlow Foods Market 2019-2024 ($M) - Regional Industry Research
7.5 Clearspring Market 2019-2024 ($M) - Regional Industry Research
7.6 BOCA Market 2019-2024 ($M) - Regional Industry Research
7.7 Aldi Market 2019-2024 ($M) - Regional Industry Research
7.8 Hain Celestial Market 2019-2024 ($M) - Regional Industry Research
7.9 Fry Group Foods Market 2019-2024 ($M) - Regional Industry Research
7.10 Cedar Lake Foods Market 2019-2024 ($M) - Regional Industry Research
7.11 Atlantic Natural Foods Market 2019-2024 ($M) - Regional Industry Research
7.12 Bean Supreme Market 2019-2024 ($M) - Regional Industry Research
7.13 Butler Foods Market 2019-2024 ($M) - Regional Industry Research
7.14 Fantastic Foods Market 2019-2024 ($M) - Regional Industry Research
7.15 Field Roast Market 2019-2024 ($M) - Regional Industry Research
7.16 Dragonfly Foods Market 2019-2024 ($M) - Regional Industry Research
8.South America Market by Type Market 2019-2024 ($M)
8.1 Veganism Market 2019-2024 ($M) - Regional Industry Research
8.2 Buddhist Vegetarianism Market 2019-2024 ($M) - Regional Industry Research
8.3 Lacto Vegetarianism Market 2019-2024 ($M) - Regional Industry Research
8.4 Ovo Vegetarianism Market 2019-2024 ($M) - Regional Industry Research
9.Europe Key Manufacturers Market 2019-2024 ($M)
9.1 Gardein Market 2019-2024 ($M) - Regional Industry Research
9.2 VBites Foods Market 2019-2024 ($M) - Regional Industry Research
9.3 Beyond Meat Market 2019-2024 ($M) - Regional Industry Research
9.4 Marlow Foods Market 2019-2024 ($M) - Regional Industry Research
9.5 Clearspring Market 2019-2024 ($M) - Regional Industry Research
9.6 BOCA Market 2019-2024 ($M) - Regional Industry Research
9.7 Aldi Market 2019-2024 ($M) - Regional Industry Research
9.8 Hain Celestial Market 2019-2024 ($M) - Regional Industry Research
9.9 Fry Group Foods Market 2019-2024 ($M) - Regional Industry Research
9.10 Cedar Lake Foods Market 2019-2024 ($M) - Regional Industry Research
9.11 Atlantic Natural Foods Market 2019-2024 ($M) - Regional Industry Research
9.12 Bean Supreme Market 2019-2024 ($M) - Regional Industry Research
9.13 Butler Foods Market 2019-2024 ($M) - Regional Industry Research
9.14 Fantastic Foods Market 2019-2024 ($M) - Regional Industry Research
9.15 Field Roast Market 2019-2024 ($M) - Regional Industry Research
9.16 Dragonfly Foods Market 2019-2024 ($M) - Regional Industry Research
10.Europe Market by Type Market 2019-2024 ($M)
10.1 Veganism Market 2019-2024 ($M) - Regional Industry Research
10.2 Buddhist Vegetarianism Market 2019-2024 ($M) - Regional Industry Research
10.3 Lacto Vegetarianism Market 2019-2024 ($M) - Regional Industry Research
10.4 Ovo Vegetarianism Market 2019-2024 ($M) - Regional Industry Research
11.APAC Key Manufacturers Market 2019-2024 ($M)
11.1 Gardein Market 2019-2024 ($M) - Regional Industry Research
11.2 VBites Foods Market 2019-2024 ($M) - Regional Industry Research
11.3 Beyond Meat Market 2019-2024 ($M) - Regional Industry Research
11.4 Marlow Foods Market 2019-2024 ($M) - Regional Industry Research
11.5 Clearspring Market 2019-2024 ($M) - Regional Industry Research
11.6 BOCA Market 2019-2024 ($M) - Regional Industry Research
11.7 Aldi Market 2019-2024 ($M) - Regional Industry Research
11.8 Hain Celestial Market 2019-2024 ($M) - Regional Industry Research
11.9 Fry Group Foods Market 2019-2024 ($M) - Regional Industry Research
11.10 Cedar Lake Foods Market 2019-2024 ($M) - Regional Industry Research
11.11 Atlantic Natural Foods Market 2019-2024 ($M) - Regional Industry Research
11.12 Bean Supreme Market 2019-2024 ($M) - Regional Industry Research
11.13 Butler Foods Market 2019-2024 ($M) - Regional Industry Research
11.14 Fantastic Foods Market 2019-2024 ($M) - Regional Industry Research
11.15 Field Roast Market 2019-2024 ($M) - Regional Industry Research
11.16 Dragonfly Foods Market 2019-2024 ($M) - Regional Industry Research
12.APAC Market by Type Market 2019-2024 ($M)
12.1 Veganism Market 2019-2024 ($M) - Regional Industry Research
12.2 Buddhist Vegetarianism Market 2019-2024 ($M) - Regional Industry Research
12.3 Lacto Vegetarianism Market 2019-2024 ($M) - Regional Industry Research
12.4 Ovo Vegetarianism Market 2019-2024 ($M) - Regional Industry Research
13.MENA Key Manufacturers Market 2019-2024 ($M)
13.1 Gardein Market 2019-2024 ($M) - Regional Industry Research
13.2 VBites Foods Market 2019-2024 ($M) - Regional Industry Research
13.3 Beyond Meat Market 2019-2024 ($M) - Regional Industry Research
13.4 Marlow Foods Market 2019-2024 ($M) - Regional Industry Research
13.5 Clearspring Market 2019-2024 ($M) - Regional Industry Research
13.6 BOCA Market 2019-2024 ($M) - Regional Industry Research
13.7 Aldi Market 2019-2024 ($M) - Regional Industry Research
13.8 Hain Celestial Market 2019-2024 ($M) - Regional Industry Research
13.9 Fry Group Foods Market 2019-2024 ($M) - Regional Industry Research
13.10 Cedar Lake Foods Market 2019-2024 ($M) - Regional Industry Research
13.11 Atlantic Natural Foods Market 2019-2024 ($M) - Regional Industry Research
13.12 Bean Supreme Market 2019-2024 ($M) - Regional Industry Research
13.13 Butler Foods Market 2019-2024 ($M) - Regional Industry Research
13.14 Fantastic Foods Market 2019-2024 ($M) - Regional Industry Research
13.15 Field Roast Market 2019-2024 ($M) - Regional Industry Research
13.16 Dragonfly Foods Market 2019-2024 ($M) - Regional Industry Research
14.MENA Market by Type Market 2019-2024 ($M)
14.1 Veganism Market 2019-2024 ($M) - Regional Industry Research
14.2 Buddhist Vegetarianism Market 2019-2024 ($M) - Regional Industry Research
14.3 Lacto Vegetarianism Market 2019-2024 ($M) - Regional Industry Research
14.4 Ovo Vegetarianism Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Global Meat-Free Foods Market Revenue, 2019-2024 ($M)2.Canada Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
3.Mexico Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
4.Brazil Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
5.Argentina Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
6.Peru Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
7.Colombia Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
8.Chile Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
9.Rest of South America Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
10.UK Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
11.Germany Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
12.France Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
13.Italy Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
14.Spain Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
16.China Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
17.India Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
18.Japan Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
19.South Korea Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
20.South Africa Global Meat-Free Foods Market Revenue, 2019-2024 ($M)
21.North America Global Meat-Free Foods By Application
22.South America Global Meat-Free Foods By Application
23.Europe Global Meat-Free Foods By Application
24.APAC Global Meat-Free Foods By Application
25.MENA Global Meat-Free Foods By Application