Utilizing both primary and secondary research methods, Reports and Insights investigated the Plant Based Meat Alternative Market from every perspective in recent times. The issued report is promising the clients to help them gain a deeper understanding of prevailing market dynamics such as supply-demand asymmetry, product preferences, customer preferences and habits, pricing trends, and so forth. The data is then compiled and evaluated using a scale of market assessment and data validation approaches. In addition, Reports and Insights have an in-house data prognostic approach that prophecies market growth through 2030.
The plant-based meat alternative market is estimated to reach at a value of US$ 7.4 Bn by the end of 2022 and expected to reach at a value of US$ 19.8 Bn by 2030 with a significant CAGR of 13.2%.
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Plant Based Meat Alternative Introduction
For the last decade, there has been roaring interest in the evolving idea and development of cell-based and plant-based alternatives to ranched meat. Even though the idea of plant-based meat alternatives is by and large encouraged due to increased concerns towards environment, animal welfare, as well as, in some instances, public health issues associated with ranched meat production and consumption.
Bringing into the open, plant-based meat has been around for a long time now—it has considerably become a way out for all vegans and vegetarians to fulfill their meat cravings without deceiving their cruelty-free and environment-friendly diet. The plant-based meat or vegan meat is basically meat alternatives developed using meat substitutes that have the similar texture, taste, appearance and flavor as meat, but without causing any animal cruelty or any health problems.
The growing concerns towards animal cruelty as well as increased awareness regarding harmful impact that ranched meat leaves on environment is primarily driving the demand of plant-based meat alternatives across the markets. In addition to that, several health benefits offered by the plant-based meat alternatives including no antibiotics, no cholesterol, and less saturated fats is further projected to accelerate the demand of plant-based meat all around the world. Therefore, the global plant-based meat alternatives market is projected to grow significantly over the years.
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Plant Based Meat Alternative Market Segmentation
The plant-based meat alternative market is segmented on the basis of ingredients, alternative, end products, technology, storage, and region.
By Ingredients
- Proteins
- Soy Protein
- Pea Protein
- Wheat Gluten
- Legume proteins
- Rapeseed, sunflower and other seed proteins
- Others
- Binders and Texturizing Agents
- Xanthan Gum
- Carrageenan
- Methylcellulose
- Locust Bean Gum
- Calcium Alginate
- Others
- Fat, Oil and Oil Substitutes
- Flavour and Colouring Agents
By Alternative
- Beef Alternative
- Chicken Alternative
- Pork Alternative
- Seafood Alternative
- Egg Alternative
By End Products
- Tofu
- Burgers
- Sausages
- Patties
- Nuggets, Tenders & Cutlets
- Grounds
- Steaks
- Chicken Like Blocks
- Others
By Technology
- Extrusion
- Shearing
- Spinning
- Freeze Alignment
By Storage
- Refrigerated
- Frozen
- Shelf-stable
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
Plant Based Meat Alternative Market Key Players
Some of the key participating players in plant-based meat alternative market are:
- Impossible Foods
- Kraft Heinz
- Conagra Brands, Inc.
- Beyond Meat
- Eat Just, Inc.
- Maple Leaf Foods
- The Vegetarian Butcher
- Gardein Protein International
- Morningstar Farms
- Quorn Foods
- Amy’s Kitchen
- Tofurky
- Gold&Green Foods Ltd.
- Sunfed
- VBites Food Limited
- Alpha Foods
- Planterra Foods
- Before the Butcher
- No Evil Foods
- Like Meat
- The Meatless Farm Co.
- Hooray Foods
- Yves Veggie Cuisine
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