Europe market accounted for the largest share. In Europe, the growing vegan trends, especially in UK, is expected to rise demand for plant-based meat market
— DataM Intelligence
CLEVELAND, OHIO, USA, February 10, 2022 /EINPresswire.com/ — Plant-based Meat Market Overview Analysis:
According to the research report published by DataM Intelligence, the global plant-based meat market valued at USD XX billion in 2020, is expected to reach USD XX by the end of 2028, with growth at a CAGR of 14.8% during the forecast period 2022-2028.
Increasing consumer notice in plant-based diets, coupled with the increasing awareness for animal rights over numerous welfare organizations is anticipated to drive the plant-based meat market. The market is seeing substantial growth owing to the rising flexitarian and vegan population throughout the globe, increasing consciousness about the health benefits obtainable by plant-based meat over animal meat, and development in government creativities along with major investments are driving the global plant-based meat market. The European plant-based meat market is going to control the global market, owing to new product advances in the region, supported with proper research and development services offered in the European region.
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Expense is one of the key restraining issues in the plant-based meat market. Plant-based meat is uneconomical when compared to animal-based meat, which is probable to influence its development in cost-sensitive markets such as China, India, and South Africa.
Growing plant-based consumption is a trend among all young and diverse consumer groups in the U.S. These age groups are more likely to express intent to eat more plant-based foods. Plant-based meat controls blood cholesterol, heart diseases, and diabetes.
In Western America, there is increasing acceptance of vegetarian eating habits in fitness-aware clients. Growing concerns about Greenhouse Gas (GHG), provided by the meat business and animal well-being procedures, are expected to boost the demand for plant-based meat foodstuffs.
Market Segmentation Analysis:
Plant-based Meat Market is segmented by Source (Soy, Wheat, Pea, Quinoa, Oats, Beans, Nuts), by Product (Burger Patties, Sausages, Strips & Nuggets, Meatballs), by Type (Pork, Beef, Chicken, Fish), Process.
The global plant-based meat market is classified into five regions such as North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The European market accounted for the largest share in 2020. In Europe, the growing vegan trends, especially in the UK, are expected to increase demand for plant-based meat products.
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Some of the Major Players Covered in the Global Market Report:
Beyond Meat, Impossible Foods Inc., Amy’s Kitchen, Inc., Garden Protein International, Inc., Quorn Foods, Inc., Lightlife Foods, MorningStar Farms (The Kellogg Company), Tofurky, VBites Foods Limited, and Other major players.