Plant Based Meats Market – Overview
Plant-based meat is gaining immense popularity and becoming an essential component in a vegan diet, followed by people living a vegetarian lifestyle free of animal-based food. Veganism is an emerging trend in modern society for ethical and medical reasons, and thus, vegetarian ingredients are in high demand as they help to avoid animal cruelty and for the consumption of sustainable beverages and food. This rise in veganism is projected to boost the sales growth of the global plant based meats market during the forecast period, set between 2021 and 2031.
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The plant based meats market is categorized in terms of source, product, type, end user, storage, and regions. Based on source, the market is grouped into wheat, pea, soy, and others. In terms of product, the market is grouped into grounds, nuggets, tenders, & cutlets, sausages, burgers, and others. With respect to type, the market is classified into fish, beef, pork, chicken, and others. The end user segment is bifurcated into HORECA or hotel/restaurant/café, and retail. The storage segment is again trifurcated into shelf-stable plant-based meat, frozen plant-based meat, and refrigerated plant-based meat.
The report on plant based meats market offers a detailed analysis of the market and its growth trajectories such as drivers, restraints, challenges, and future growth opportunities. It also throws light on the key innovations that made positive contribution to the market in terms of revenue generation. List of the notable players and their key contributions in the form of innovations and new product launches is also discussed in details. The impact of the novel COVID19 pandemic is also discussed in the report. For more information on this report, log on to the company website.
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Plant Based Meats Market – Competitive Landscape
This global market is highly fragmented with the presence of many players. Leading players of the plant-based meat market are using growth strategies like introduction of new products into the market to gain impetus over the other competitors. Other players are engaging in joint ventures and collaborative efforts to attract higher revenues in the coming years. Innovative marketing and advertising strategies will help players look for better growth opportunities and gain a significant position in the market position.
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Some of the key players of the global Plant based meats market include:
- Dr. Praeger’s Sensibel Foods
- No Evil Foods
- OmniFoods
- GoodDot
- LikeMeat GmbH
- Eat JUST Inc.
- Moving Mountains
- Ojah B.V.
- Marlow Foods Ltd.
- Marlow Foods Ltd.(Cauldron)
- Yves Veggie Cuisine
- Trader Joe’s
- Lightlife Foods Inc.
- Kraft Foods Inc.
- VBites Foods Limited
- Sunfed
- Gold & Green Foods Ltd.
- Tofurky
- Amy’s Kitchen Inc.
- Quorn
- Kellog NA Co.
- Conagra Inc.
- Vegeratrian Butcher
- Maple Leaf Foods
- Impossible Foods Inc.
- Beyond Meat
- Others
Plant Based Meats Market - Growth Drivers
Various plant-based meat types are gaining high popularity, and diversifying to expand the whole category in the vegetarian food sector. In addition to plant-based beef, demand for plant-based pork, chicken, and seafood is increasing. The increasing shift in the plant-based industry's product innovation and merchandising strategies by players will further augment the demand for plant-based meat. Moreover, as a raw material, soy consists of all of the essential amino acids that are required for human growth. Its ability to improve the final product’s solubility, water absorption, emulsification, texture, anti-oxidation, and viscosity is expected to increase the sales projections of the plant-based meat products in the forecast years.
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