Research Nester published a report titled “Plant-Based Meat Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of theglobalplant-based meat market in terms of market segmentation by source, type, product, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The plant-based meat market is estimated to occupy a large revenue by growing at a CAGR of ~19% during the forecast period, i.e., 2022 – 2030, owing to the rising consumption of vegan food products among consumers and increasing awareness regarding animal rights around the world. Along with these, growing investments by market pioneers for producing plant-based meat products is also expected to drive market growth in the upcoming years.
The global plant-based meat market is segmented by source, type and product. Based on source, the soy segment is anticipated to grab the largest market share during the forecast period on the back of rise in production of soybean, less formulation costs and low carbon footprint of these products. Additionally, the pea segment is projected to witness the highest growth owing to the properties of these products such as being lactose and gluten free.
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Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to grab the largest share in the market during the forecast period ascribing to the growing consciousness about the risks of consuming contaminated meat among people and the strong presence of startups producing plant-based meat in the region.
Growing Vegan Population Worldwide to Boost Market Growth
Since the last few years, the trend of consuming plant-based foods such as vegetables, seeds, legumes and nuts is increasing among people around the globe. In addition, excessive consumption of animal meat can result in diseases including diabetes, obesity and certain cancers. In view of this, more people are following veganism, which in turn is estimated to drive market growth in the coming years.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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However, negative perception associated with the taste of plant-based meat products is expected to operate as key restraint to the growth of the plant-based meat market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global plant-based meat market which includes company profiling of Impossible Foods Inc., Maple Leaf Foods, Beyond Meat, Inc., Conagra, Inc., Unilever UK Ltd, Kellogg NA Co., Gold&Green Foods Ltd., Amy’s Kitchen, Inc., VBites Food Limited, Marlow Foods Ltd., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the plant-based meat market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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