Rising Appetite for Sustainability: The Growing Plant-based Meat Market

 

The plant-based meat market is expected to grow at a CAGR of 13.9% from 2024 to 2030, reaching a valuation of $24.01 billion. This growth is driven by shifting consumer lifestyles and an increasing number of health-conscious individuals favoring plant-based meat products. Key growth drivers include the rising preference for plant-based diets, an increasing vegan population, heightened focus on animal welfare, and the growing demand for alternative proteins. Innovations in food technology and product introductions by manufacturers are also anticipated to create substantial growth opportunities. Nevertheless, consumer preferences for soy and gluten-free products, as well as a strong preference for animal-based products, may impede market growth.

Download free sample report here: https://www.meticulousresearch.com/download-sample-report/cp_id=5581

Leading Market Participants

Key players in the plant-based meat market include Beyond Meat Inc. (U.S.), Impossible Foods Inc. (U.S.), The Hain Celestial Group, Inc. (U.S.), Unilever Plc (U.K.), Kellogg Company (U.S.), Lightlife Foods, Inc. (Canada), Nestlé S.A. (Switzerland), Conagra Brands, Inc. (U.S.), Taifun–Tofu GmbH (Germany), Atlantic Natural Foods LLC (U.S.), VBites Food Ltd (U.K.), Sunfed Meats (New Zealand), Quorn Foods (U.K.), Ojah B.V. (Netherlands), and The Kraft Heinz Company (U.S.).

Impact of Increasing Veganism

The global shift towards veganism is a significant factor driving the plant-based meat market. In 2021, approximately 10% of the global population was vegetarian, with a considerable portion of millennials identifying as vegan. The vegan population in Europe has doubled in recent years, reflecting a strong demand for plant-based alternatives. This trend, fueled by health and environmental concerns as well as compassion for animals, is expected to continue driving market growth.

Segment Highlights

Tofu is expected to lead the plant-based meat market in 2024, owing to its affordability, high protein content, and health benefits such as lowering cholesterol levels. Conversely, the hot dogs and sausages segment is forecasted to grow at the fastest rate, driven by their ready-to-eat convenience and new product introductions.

Browse in depth: https://www.meticulousresearch.com/product/plant-based-meat-market-5581

Regional Market Dynamics

North America is projected to dominate the plant-based meat market in 2024, supported by a high awareness of protein-rich diets, concerns about meat contamination, and significant investments in plant-based meat production. The Asia-Pacific region is expected to register the highest growth rate, driven by rising disposable incomes, urbanization, health-conscious diets, and supportive government policies.

Furthermore, innovation in food technology and product launches by plant-based food and alternative protein manufacturers are expected to create market growth opportunities. However, consumer preference for soy and gluten-free products and significant preference for animal-based products are expected to hinder the growth of this market to some extent

Quick Buy: https://www.meticulousresearch.com/Checkout/39555605.

Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

Comments

Post a Comment

Popular posts from this blog

Revolutionizing API Testing: The Power of Automation in Software Development

API Testing Automation Solutions are sophisticated tools and frameworks designed to streamline the testing of application programming interfaces (APIs). These solutions ensure APIs function accurately, reliably, and securely by automating repetitive and complex testing processes. By minimizing human error and accelerating development cycles, they help organizations deliver high-quality software efficiently and confidently. Download Sample Report Here : https://qksgroup.com/market-research/market-share-api-testing-automation-solutions-2023-worldwide-4085 Key advantages of these solutions include comprehensive testing capabilities across functional, performance, security, and load testing; seamless integration with CI/CD pipelines and development tools; scalability for extensive testing environments; intuitive user interfaces; advanced reporting and analytics; support for multiple protocols like REST, SOAP, and GraphQL; and strong security testing features to identify vulnerabilitie...
Read more

Cloud Data Warehouses: The Key to Scalable and Agile Data Management

  The growing need for cloud data warehouses stems from the rapid expansion of data generated by modern businesses. Traditional on-premises data warehouses are struggling to keep up with the sheer volume and complexity of this data, creating a demand for more scalable, flexible, and cost-effective solutions. Cloud data warehouses provide an ideal alternative by offering platforms that can efficiently manage structured, semi-structured, and unstructured data while eliminating the limitations of physical infrastructure. These solutions provide virtually limitless storage and processing power, allowing businesses to scale their data operations seamlessly. One of the key advantages of cloud data warehouses is their cost-effectiveness. Unlike traditional data storage systems, which require substantial upfront investments in hardware and ongoing maintenance costs, cloud data warehouses operate on a pay-as-you-go pricing model. This means organizations only pay for the storage and comp...
Read more

Mastering Data: The Evolving Role of Master Data Management

  Master Data Management (MDM) is undergoing a transformative shift, driven by the integration of machine learning (ML) technologies. As organizations seek to manage increasingly complex and voluminous data assets, the incorporation of machine learning into MDM solutions is revolutionizing how data is prepared, cleansed, and transformed. These intelligent systems are capable of learning from user behavior and identifying recurring data patterns, allowing them to recommend or even automate steps in the data preparation process. Machine learning enhances MDM systems by offering intelligent suggestions for data cleaning, normalization, enrichment, and transformation. Over time, as these systems interact more with users and datasets, their ability to anticipate needs and improve data quality grows. This leads to significant reductions in manual data preparation tasks, accelerating the entire data lifecycle and enabling organizations to gain actionable insights faster. With cleaner, ...
Read more