Global Plant-based Meat Market is expected to reach approximately US$ 15 billion by 2028: Ken Research REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Meat made from plants having proteins, fats, vitamins, minerals, and water components is plant-based meat, much like meat derived from animals. Modern plant-based meat resembles traditional meat in appearance, cooking method, and flavor. According to Ken Research Analysis, the global Plant-based Meat Market is expected to record a positive CAGR of ~15% during the forecast period (2022-2028) and is expected to reach approximately US$ 15 billion by 2028. Consumers are preferring vegan options due to growing health concerns and animal welfare. In addition, people seek the same flavor and tenderness in food products as that found in meat and meat products made from animals in vegetarian alternatives. These are some of the primary factors that are expected to drive the Plant-based Meat Market. It is being increasingly adopted in food products like burgers patties, and sausages. For more information, request a free sample @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MDYw Growing flexitarian and vegan populations as well as rising animal welfare initiatives across the world boost the market growth. Animal welfare has recently been pushed to the front of the world’s eating habits. Animal humanization has been promoted on a larger scale by organizations like World Animal Protection (WAP) and People for the Ethical Treatment of Animals (PETA). Various cultural views have been dominated by animal welfare. According to several theological traditions, animals have the same levels of sensibility, consciousness, and feeling as people. As a result, eating animal meat has been strongly discouraged, and numerous jurisdictions have passed harsh laws outlining the killing of animals. Lack of awareness in third-world countries, and the texture and taste of plant-based meats limit the market growth. Customers often search for high-quality products with reliable flavor and texture. Due to growing awareness of environmental and health issues, customers have recently begun to demand more nutrient-dense, clean-label, and sustainable products. Although plant-based meat substitutes offer nutritional advantages compared to those of animal meat, the main drawback is the taste and texture of the substitute. Moreover, in emerging economies, vegan culture, plant-based meat, and other meat alternatives are not yet popular and hence lack awareness among the larger audience. The food industry experienced substantial fluctuations as a result of the COVID-19 pandemic, including disruptions in the transportation of goods and the availability of crucial materials. Despite these limitations, plant-based meat companies adapted and launched new products and increased sales up-to a certain extent. The global trade ban imposed in reaction to COVID-19 caused problems in the food supply system. Distribution through the food service channels was severely hampered, and panic buying and pantry stocking resulted in a dramatic increase in retail sales over the previous year. During the early pantry-stocking phase, many plant-based meat categories saw exponential growth. Key Trends by Market Segment By Source: The soy source segment held the largest market share in the global Plant-based Meat Market in 2021. Branch amino acids (BCAAs), which are abundant in soy, improve the body’s capacity to exercise, develop and strengthen muscle mass, and recover from a strenuous workout. Comparing soy-based meat products to traditional animal- and dairy-based food items, it not only has lower formulation costs but also has a lower carbon footprint. Growing consumer demand for the product due to its qualities such as improved microwave-ability and slice-ability is anticipated to fuel market expansion. To more about industry trends, Request a free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MDYw By Type: The chicken segment held the largest share in the global Plant-based Meat Market in 2021. The over-slaughtering and depletion of animal sources are being caused by the rising demand for chicken meat, the growing population, and consumer preferences for meat products. As a result, especially among millennials and Gen Xers, sustainability is becoming increasingly important as a deciding factor when making purchases, in turn promoting the growth of the Plant-based Meat Market. By Product: Burger patties product segment held the largest share in the global Plant-based Meat Market in 2021. Burger-producing companies are adopting ingredients that replicate the flavor, aroma and feel of meat which is pushing up the plant-based burger patties market in places across the globe. For example, The Impossible Burger, a product of Impossible Foods, has a characteristic meaty flavor since it is created with a genetically engineered form that mimics the natural heme-iron found in animals. By Geography: Europe accounted for the largest market share in 2021 within the total Global Plant-based Meat Market in 2021. The growing vegan trend in Europe, particularly in the UK, is anticipated to boost demand for plant-based meat alternatives. To boost their sales in the local market, major manufacturers are pursuing strategic initiatives such as capacity development, product innovation, and mergers and acquisitions. To more regional trends, Ask for a Free Customization @ https://www.kenresearch.com/ask-customization.php?Frmdetails=NTk2MDYw Competitive Landscape The global Plant-based Meat Market is highly competitive with ~300 players which include globally diversified players, regional players as well as a large number of country-niche players. Country niche players constitute ~70% of the competitors, followed by regional players which hold 25% of the market presence. Some of the major players in the market include Beyond Meat, Impossible Foods Inc., Starbucks Corporation, Tofurky, Kraft Foods, Inc., Lightlife Foods, Inc., Maple Leaf Foods, Sunfed, VBites Foods Limited, Trader Joe’s, Ojah B.V., and others. Recent Developments Related to Major and Emerging Companies In June 2020, the official launch of the Zandbergen co-manufacturing plant in Zoeterwoude, Netherlands, marked the introduction of Beyond Meat, Inc.’s first co-manufacturing capabilities in Europe. It is intended to make Beyond Meat’s products more effectively distributed throughout EMEA. In June 2022, Starbucks India in collaboration with the vegan meat firm, Imagine Meats, introduced a vegan menu, including a Vegan Croissant Bun with tomatoes, Vegan Sausage Croissant Roll with spiced tomato sauce, a sautéed vegetables, and chermoula, and a Vegan Hummus Kebab Wrap with green pea hummus and pickled carrots, for some of the Starbucks locations across the nation. In February 2022, A joint venture deal has been signed between food technology startup TheNotCompany and The Kraft Heinz Co. As part of the announcement of the partnership, Kraft Heinz stated that the project is intended to “reimagine global food production” and move the food industry closer to a “most sustainable” future. Conclusion The global Plant-based Meat Market is expected to continue the gradual growth during the forecast period. Consumers are choosing vegan options due to growing concerns about their health and the welfare of animals. Moreover, they also seek the same flavor and tenderness found in meat, and meat products made from animals, are key trends driving market expansion. The market is highly competitive with around 300 participants concentrating on expansion strategies through product innovations as well as acquisitions and mergers. Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for pre-booking clients, and the report delivered within a maximum of two working weeks. Market Taxonomy The Global Plant-based Meat Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is segmented by source, type, and product. In addition, the report also covers market size and forecasts for the four major regions’ Plant-based Meat Market. The revenue used to size and forecast the market for each segment is US$ billion. By Source Soy Pea Wheat Others By Type Chicken Pork Beef Fish By Product Burgers Patties Sausages Strips & Nuggets Others By Geography North America USA Canada Mexico Europe Germany UK France Spain Italy Rest of Europe Asia Pacific China Japan South Korea India Indonesia Australia Rest of Asia Pacific LAMEA Latin America Middle East Africa Key Players Beyond Meat Impossible Foods Inc. Starbucks Tofurky Kraft Foods, Inc. Lightlife Foods, Inc Maple Leaf Foods Sunfed VBites Foods Limited Trader Joe’s Ojah B.V. 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