Plant-Based Meat Market is expected to exhibit a strong 14.17% CAGR over the forecast period

Market Overview

Global Plant-Based Meat Market is expected to exhibit a strong 14.17% CAGR over the forecast period from 2019 to 2026, according to the latest research report from Market Research Future (MRFR). The global plant-based meat market is expected to reach a valuation of USD 16.4 billion by 2026.

Plant-based meat comprises meat substitutes made from plant products. There are a variety of plant-based meat substitutes that hold an important presence in the cuisine of various regions, such as tofu, seitan, and tempeh in Eastern Asia. These products have migrated to Western markets in recent years due to the growing popularity of veganism and the growing awareness among consumers about the adverse effects of the meat industry on the planet’s ecosystem. The growing popularity of these products in affluent markets such as North America and Western Europe is likely to be a major driver for the global plant-based meat market over the forecast period. The rise of veganism has been prominent in North America and Europe, where meats comprise an important part of the traditional diet. Many, especially younger, consumers in these regions are adopting veganism as a means to support the environment, leading to growing consumption of vegan products such as tofu and tempeh. This is likely to be a major driver for the global plant-based meat market over the forecast period.

Get Free Sample Copy of “Plant-Based Meat Market” @ https://www.marketresearchfuture.com/sample_request/8583

Competitive Analysis

Leading players in the Global Plant-Based Meat Market include Amy’s Kitchen Inc., Beyond Meat, Garden Protein International Inc., Blue Chip Group Inc., MorningStar Farms LC, VBites Foods Ltd., Schouten Europe BV, Cauldron Foods Limited, Impossible Foods Inc., Maple Leaf Foods Inc., Unilever, House Foods Corporation, Vitasoy International Holdings Limited, and Eden Foods Inc.

In December 2019, Beyond Meat announced plans to launch plant-based poultry products in 2020.

In April 2019, Maple Leaf Foods opened a new meat alternative manufacturing plant in Shelbyville, Indiana.

Segmentation

Global Plant-Based Meat Market is segmented based on product type, source, distribution channel, and region.

By product type, the global plant-based meat market is segmented into tofu and tofu products, sausages, seitan, tempeh, and others.

By distribution channel, the global plant-based meat market is segmented into store-based and non-store-based.

Regional Analysis

Asia Pacific is also likely to be a major regional market within the global plant-based meat market over the forecast period due to the widespread popularity of tofu, seitan, tempeh, and other plant-based meat alternatives in East Asia. The widespread vegetarian culture in India is also likely to be a major driver for the plant-based meat market in Asia Pacific, as an increasing number of consumers are buying plant-based meat products in the country.

Get More Professional and Technical Industry Insights @ https://www.marketresearchfuture.com/reports/plant-based-food-market-8578

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.