(Food-Beverage-News.Com, January 14, 2020 ) These days growing number of customers are demanding meat based on plants, either for medical reasons or as a healthy lifestyle. As a result, the demand for meat based on plants is continuing to grow. In addition, ongoing research and development activities by plant-based meat manufacturers in terms of improved taste, texture, longer shelf life, and better nutrient profiles are projected to increase the growth of the global plant-based meat market in the next couple of years. Because of the increasing preference for plant-based diets among consumer’s worldwide, businesses, both start-ups and established players are entering this high-growth market. Plant Based Meat Market is expected to be more than US$ 7 Billion globally by 2025.
Awareness-raising by national animal welfare groups like PETA (People for Animal Ethical Treatment) has inspired people to consider a meat-free diet. China is expected to dominate the Asia Pacific plant-based meat market. As a result of excessive animal killing for meat consumption, the rising environmental impact has created a substantial demand for meat based on plants in China. Most meat products based on plants are products based on soy or gluten. At present, plant-based meat products are manufactured either by thermoplastic extrusion or fiber spinning using two simple methodologies.
Renub Research report titled “Plant Based Meat Market Global Analysis by Source (Soy, Mycoprotein, Wheat, Others), Product (Textured Vegetable Protein (TVP), Tofu, Quorn, Tempeh, Seitan, Others), Countries (United States, United Kingdom, Germany, Italy, China), Regions (North America, Europe, Rest of the World), Companies (Beyond Meat, Maple Leaf Foods, Gardein Protein International (Pinnacle Foods), Morningstar Farms (Kellogg Company), Quorn Foods)” provides a complete analysis of global plant based meat market.
By Source Type: The plant-based meat commodity can be segmented into soy, Wheat Based and mycoprotein based on the source. Because of its growing popularity among its customers, soy and gluten-based (wheat) sources are expected to have higher volume share among these sources.
By Product Type: Based on the type of product, plant-based meat products can be segmented into tofu, Textured Vegetable Protein (TVP), Tempeh, Seitan, quorn and other food products that account for a minimum share of the above products. As it is made from soybeans and high in protein and calcium, Tofu was considered one of the favorite plant-based meat dishes.
By Regions: Regional profile is divided into five different regions for the plant-based meat market: North America, Asia Pacific, Europe, Others. Asia Pacific region, due to the increasing popularity of plant-based meat products among customers, was projected to have a higher share in volume and value sales.
By Companies: The study provides a comprehensive market assessment of top key players; Beyond Meat, Maple Leaf Foods, Gardein Protein International (Pinnacle Foods), Morningstar Farms (Kellogg Company) and Quorn Foods. As a key strategy for increasing their market presence, these businesses have adopted new product launches.
Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide wide range of business research solutions that helps companies in making better business decisions. Our clients rely on our market analysis and data to make informed knowledgeable decisions. Our pertinent analysis helps consultants, bankers and executives to make informed and correct decisions.