“According to Fairfield Market Research, the Global Plant-Based Meat Market is Expected to be worth US$13,035.6 Mn by 2026, Registering a whopping CAGR of 18.9% Between the Forecast Years of 2021 and 2026.”
Fairfield Market Research recently released a report in one of its most attractive research domains. The report provides complete growth forecast, and analysis of global plant-based meat market, clearly highlighting solid popularity of plant-based meat product varieties among consumers worldwide. While food industry continues to be significantly influenced by trends like gluten-free, sugar-free, vegetarianism, veganism, and cruelty-free, that of plant-based products is likely to impact the dynamics of the meat analogue segment. An expanding vegan population and growing number of individuals showing preference for plant-based, and cruelty-free food and beverage products are expected to drive the growth of plant-based meat market.
For More Industry Insight Read: https://www.fairfieldmarketresearch.com/report/plant-based-meat-market
Expansion of Retail Provides a Fertile Ground to Plant-based Meat and Meat Products
With evolving consumer choices and the consequent trend waves created in F&B industry, brands continue to develop their competition strategies. In the light of exploding progress of retail world, a number of speciality brands are likely to be concentrating on strengthening their positioning in retail industry. As retail has been recently offering a large room to speciality product ranges that align with real-time consumer preferences, brands in categories like plant-based meat perceive retail as the most impactful, and profitable means of extending their product outreach. Leaders in retail like Nature’s Basket, and even OmniPork have been playing out as the trailblazers in plant-based meat and meat products categories at retail stores and chains.
On the other hand, foodservice industry is also gradually embracing the plant-based meat analogues trend, thereby pushing plant-based meat market growth. Subway, and Dominos have already included the same on their menus, and several others in industry are likely to follow the suit.
Pea Protein Bestseller, Europe Retains the Top Spot
Pea protein, being a versatile and clean-label protein source available on the market, is likely to remain the top selling product category in plant-based meat market. The report says that consumers will continue to favour pea protein as it closely matches the texture and mouthfeel of conventional meat and is widely available.
Regional analysis reveals that Europe has been witnessing an unprecedented growth in its vegan population over the recent past. The boom around plant-based trend has also been building up rapidly. The market here is projected to remain dominance and majorly benefit from the strong strategic presence of some of the largest brands active in the meat analogue segment.
Competition Landscape – Global Plant-based Meat Market
Fairfield Market Research report on global plant-based meat market has a dedicated section for competition landscape analysis that intends to uncover some exclusive insights to help potential market participants understand the marsket better. While the plant-based meat landscape continues to witness entry of newer competitors on a frequent basis, the report has some of the most prominent ones profiled here, including Beyond Meat, Inc., OmniFoods, Conagra, Inc., Impossible Foods Inc., Maple Leaf Foods Inc., Kellogg's Company, Hormel Foods Corporation, VBites Food Limited, JBS SA, and Sunfed.
The Global Plant-Based Meat Market is Segmented as Below:
By Source Coverage
- Soy
- Wheat
- Pea
- Others
By Meat Type Coverage
- Beef
- Chicken
- Pork
- Fish
By Sales Channel Coverage
- Supermarket/ Hypermarket
- Convenience Stores
- Online
- Specialty Stores
By Geographical Coverage
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Leading Companies
- Beyond Meat, Inc
- Impossible Foods Inc
- Conagra, Inc.
- OmniFoods
- Kellogg's Company
- Maple Leaf Foods Inc
- VBites Food Limited
- Sunfed
- JBS SA
- Hormel Foods Corporation
Get Sample Copy of Plant-Based Meat Market: https://www.fairfieldmarketresearch.com/report/plant-based-meat-market/request-sample
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