Plant-based Meat Market Analysis

Plant-based Meat Market Analysis

The pea-based meat segment is anticipated to experience robust growth rate, surpassing 10.5% during 2023-2032, owing to the consumer inclination towards vegetarian & vegan diets as well as an increased health consciousness.
 

• Pea-based meats deliver a satisfying and meat-like texture while being a good source of fiber, thiamine, phosphorous, vitamin K, and folate, attracting consumers who seek authentic meat substitutes.
   
• The legume is celebrated for its sustainability and lower environmental impact compared to some other protein sources. The cultivation of peas typically requires less water and land, and the nitrogen-fixing properties of pea plants can contribute to soil health.
   

The plant-based meat market from soy-based meat balls segment will record significant demand rise through 2032, favored by the product being a versatile protein source.
 

• With a balanced nutritional profile and rich texture, soy meatballs appeal to health-conscious consumers seeking sustainable protein options. Their versatility in flavor absorption makes them adaptable to various cuisines.
   
• The rising awareness of environmental concerns and health-conscious lifestyles propels the demand for soy-based meatballs among the consumers following flexitarian and vegetarian diets, without compromising taste or nutritional value.
   

The food & beverage specialty store segment will generate notable revenues for the plant-based meat market through 2032, owing to a variety of factors including premium positioning & consumer awareness.
 

• Specialty stores often prioritize educating consumers about plant-based alternatives, fostering awareness and understanding of the benefits associated with plant-based meat products. Partnering with specialty stores elevates brand visibility and offers an opportunity for enhanced consumer education.
   
• These stores often curate products aligned with specific dietary preferences, creating a focused environment for showcasing plant-based meat alternatives.
   

North American plant-based meat market size is poised to witness over 10% CAGR till 2032. Led by the United States and Canada, North America has been a hotbed of innovation in plant-based meat development. Major companies like Beyond Meat and Impossible Foods originated here, introducing groundbreaking products that emulate the taste and texture of traditional meat.
 

The region's health-conscious and eco-friendly consumer base has driven the adoption of plant-based diets, making it a significant contributor to the global shift towards plant-based meat. The widespread integration of plant-based options into restaurant menus across the region has also played a pivotal role in mainstreaming these alternatives globally, shaping the market's evolution.