Plant-based Meatballs Market Size

Plant-based Meatballs Market size was valued at USD 137.5 million in 2022 and is estimated to witness 14.9% CAGR from 2023 to 2032. Growing awareness of health and wellness, along with concerns about the environmental impact of meat production, has led many consumers to seek healthier and more sustainable food options. Plant-based meatballs offer a viable alternative to traditional meatballs, as they are often lower in saturated fat, cholesterol-free, and can contribute to a balanced diet. The increasing popularity of vegan and plant-based diets has resulted in a growing market for plant-based products, including meatballs.

The rise of flexitarian and vegetarian diets has contributed to the demand for plant-based alternatives, including meatballs. Many consumers are looking to reduce their meat consumption for health, ethical, or environmental reasons, but still crave familiar and convenient options like meatballs.

One of the main challenges faced by plant-based meatballs is replicating the taste, texture, and mouthfeel of traditional meatballs made from animal proteins. Consumers have high expectations for the flavor and sensory experience of meatballs, and any significant deviation can lead to dissatisfaction and reduced repeat purchases. Sourcing high-quality plant-based ingredients for meatball production can be challenging. The cost of producing plant-based meatballs can be higher than traditional meatballs due to the use of specialized ingredients and production processes.

COVID-19 Impact

During the pandemic, there was a shift in consumer behaviour towards prioritizing health and wellness, leading to increased interest in plant-based diets and healthier food options. Closure of restaurants and restrictions on dine-in services in many regions could have affected the sales of plant-based meatballs in foodservice channels. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is set to drive the market growth.

Plant-based Meatballs Market Trends

The growing popularity of plant-based diets, driven by health and environmental concerns, has resulted in an increased demand for plant-based meat alternatives, including meatballs. Consumers are increasingly seeking healthier and more sustainable protein sources, leading to greater acceptance of plant-based meatballs. The plant-based meat industry is witnessing a surge in product offerings, including a wide variety of plant-based meatball options. These offerings cater to diverse consumer preferences, dietary restrictions, and cultural tastes.

Plant-based Meatballs Market Analysis

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The plant-based meatballs market size from soy-based dominated around USD 58.3 million in 2022. Soy-based meatballs are known for their high protein content, making them an attractive option for consumers looking for protein-rich plant-based alternatives. Soy-based proteins can be processed to mimic the texture and mouthfeel of traditional meatballs, providing a familiar culinary experience for consumers.

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Frozen segment accounted for 40% of the plant-based meatballs market share in 2022. Frozen plant-based meatballs have a longer shelf life compared to fresh alternatives. Consumers appreciate the extended storage time, allowing them to keep the product on hand for future use, reducing food waste.

Online retail segment in the plant-based meatballs market is anticipated to expand at 12.7% CAGR through 2032. E-commerce platforms provide a convenient way for consumers to access plant-based meatballs, especially for those in regions with limited physical store options or with specific dietary needs.

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U.S. plant-based meatballs market held over USD 37.5 million revenue in 2022. North American consumers are increasingly concerned about health and wellness, leading to a growing interest in plant-based diets. Plant-based meatballs offer a healthier alternative to traditional meatballs, with lower saturated fat and cholesterol content. The market size for plant-based meat in the U.S. is projected to observe 25% CAGR during the forecast period.

Plant-based Meatballs Market Share

Some of the major companies operating in the plant-based meatballs market are:

• Beyond Meat
• Impossible Foods Inc
• Gardein
• MorningStar Farms
• Lightlife Foods
• Field Roast Grain Meat Co
• Tofurky Company
• Quorn Foods
• Dr. Praeger's Sensible Foods
• Alpha Foods
• Sweet Earth Foods (a brand of Nestlé)
• Lightlife Foods (a brand of Greenleaf Foods, SPC)
• The Meatless Farm Co
• No Evil Foods
• Before the Butcher.
  

These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.

Plant-based Meatballs Industry News:

• In January 2022, Beyond Meat (US) collaborated with Pizza Hut (Canada); it has added a permanent menu item to meet the growing demand of consumers, which is Beyond Italian Sausages Crumble by Beyond Meat.
  
• In May 2021, Unilever announced that it would partner with ENOUGH, a food tech company, to bring new plant-based meat products.
  

This plant-based meatballs market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:

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Market, By Product

• Soy-Based
• Pea-Based
• Wheat-Based

Market, By Packaging

• Frozen
• Refrigerated
• Shelf-stable

Market, By Distribution Channel

• Supermarkets
• Specialty stores
• Online retail
• Foodservice providers

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt