Global Plant Based Meat Market Is Expected To Reach Around $39.19 Billion By 2032

Zion Market Research has published a new report titled “Plant Based Meat Market By Product Type (Tofu, Tempeh, Seitan, RTC/RTE, And Natto), By Source (Soy, Wheat, Mycoprotein, And Others), By End-Use (Retail And Industrial), By Distribution Channel (Business-To-Business And Business-To-Consumer), And By Region - Global And Regional Industry Overview, market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024–2032”. According to the report, the global plant based meat market was valued at approximately USD 11.32  billion in 2023 and is predicted to grow to around USD 39.19  billion by 2032 with a compound annual growth rate (CAGR) of roughly 14.8% between 2024 and 2032.

Fake meat has evolved into a popular trend on menu card at large. Plant-based meat is anything that mimics traditional meat but is made entirely using plant ingredients. It is mainly consumed by vegetarians and vegans. Despite the rising awareness of inefficiencies associated with the livestock production and other harmful effects of animal agriculture at the industrial-scale, the world is likely to consume more meat per capita this year than ever before. This is a major factor boosting the plant based meat market globally. The growing concerns regarding the environmental impact and sustainability of the meat industry are the major growth driver of the global plant based meat market. The growing concerns regarding the sustainability of livestock production, meat availability, and change in food preferences have led to many people opting for meat substitutes. This has immensely benefitted the plant based meat market globally. However, high production cost and difficult product availability may restrain the plant based meat market globally. Considering the change in food preferences and growing advancements made in the food industry, numerous opportunities for market growth are expected in the future.

Browse the full “Plant Based Meat Market By Product Type (Tofu, Tempeh, Seitan, RTC/RTE, And Natto), By Source (Soy, Wheat, Mycoprotein, And Others), By End-Use (Retail And Industrial), By Distribution Channel (Business-To-Business And Business-To-Consumer), And By Region - Global And Regional Industry Overview, market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024–2032” Report at https://www.zionmarketresearch.com/report/plant-based-meat-market

On the basis of product type, the market is segmented into tofu, seitan, RTC/RTE, tempeh, and natto. Tofu is one of the most favored plant-based meat ingredients, as it is made directly from soybeans and is high in protein and calcium along with being a staple food of the Asian cuisine. By source, the market is divided into mycoprotein, soy, wheat, and others. Soy-based and gluten-based sources are expected to hold higher market shares in the future, owing to their increasing popularity among the consumers. Based on end-user, the market is bifurcated into retail and industrial. The distribution channel segment comprises of business-to-business and business-to-consumer (convenience stores, traditional stores, food & drink specialty stores, modern groceries, and online retail).

By region, Asia Pacific is expected to hold a major share of the global plant based meat market in the future, owing to the growing preference for plant based substitutes, such as tofu and tempeh across various Asian countries like China and India. North America held a significant share of the global plant based meat market in 2023.

Some major players of the global plant based meat market are E. I. du Pont de Nemours and Company, Morningstar Farms LLC, Beyond Meat, Archer Daniels Midland Company, Amy’s Kitchen Inc., Garden Protein International Inc., Quorn Foods, Inc., Parabel USA Inc., and Impossible Foods Inc., among others.

This report segments the global plant based meat market into:

Global Plant Based Meat Market: Product Type Analysis

• Tofu
• Tempeh
• Seitan
• RTC/RTE
• Natto

Global Plant Based Meat Market: Source Analysis

• Soy
• Wheat
• Mycoprotein
• Others

Global Plant Based Meat Market: End-Use Analysis

• Retail
• Industrial

Global Plant Based Meat Market: Distribution Channel Analysis

• Business-to-Business
• Business-to-Consumer
  • Modern Groceries
  • Convenience Stores
  • Food and Drink Specialty Stores
  • Traditional Stores
  • Online Retail

Global Plant Based Meat Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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