Plant-based Meat Market - Emerging Growth Rate, Application, Market Share by 2030

Market Industry Reports (MIR) has published a new report titled “Plant-Based Meat Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global plant-based meat market is estimated to be over US$ 12 billion in 2019. It is anticipated to grow at a CAGR of 15.0% from 2019 to 2030.

The growth of the plant-based meat market can be attributed to several factors such as growing preference for the vegan diet, increasing M&A activities in the plant-based alternatives sector and several government initiatives along with significant investments. Moreover, the growing awareness about the health benefits of plant-based meat substitutes is anticipated to further contribute to substantial market growth during the forecast period.

To obtain better insights into the market scenario, prominent players are increasingly focusing on innovative product launches and collaborations. For instance, in September 2019, Beyond Meat, a producer of plant-based meat substitutes is collaborating with McDonalds for a plant-based burger trial.

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Some of the prominent players operating in the global plant-based meat market are Beyond Meat
  • Impossible Food Inc.
  • Maple Leaf Foods
  • Archer Daniels Midland Company
  • The Vegetarian Butcher
  • Gardein (Conagra Brands)
  • MorningStar Farms (Kellogg NA Co.)
  • Quorn
  • Amys Kitchen
  • and Tofurky
  • among others.
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing population, continuously growing economy and increasing awareness regarding health benefits are anticipated to present lucrative growth scenarios for the plant-based meat market in this region. Furthermore, a surge in the disposable income of people in countries such as India, China, and Japan, is anticipated to spur the consumption of plant-based meat over the forecast period.

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Growing consumer preference for the vegan diet owing to concerns about animal rights and environmental protection is likely to drive the market segment during the forecast period. Moreover, increasing consumers awareness about the benefits offered by a vegan diet is one of the major factors propelling the demand for plant-based meat products across the world. Additionally, government policies to improve the agricultural sector are likely to increase raw material availability and lower its prices, which will also have a positive impact on market growth.

 Some Key Point From TOC:
  1. RESEARCH METHODOLOGY
  2. Research Framework
  3. Data Collection Technique
  4. Data Sources
    1. Secondary Sources
    2. Primary Sources
  5. Market Estimation Methodology
    1. Bottom Up Approach
    2. Top Down Approach
  6. Data Validation and Triangulation
    1. Market Forecast Model
    2. Limitations/Assumptions of the Study
    3. MARKET DYNAMICS ASSESSMENT
  7. Overview
  8. Drivers
  9. Barriers/Challenges
  10. Opportunities
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