Plant-Based Meat Market Is Prospering at USD 16.55 billion with Expected CAGR of 15.1% by 2030, Size, Share, Trends, Regional and Competitive Analysis

Data Bridge Market research has recently released expansive research titled "Global Plant-Based Meat Market" guarantees you will remain better informed than your competition. This study provides the broader perspective of the market place with its comprehensive market insights and analysis which eases surviving and succeeding in the market. Plant-Based Meat market research report is composed of myriad of factors that have an influence on the market and include industry insight and critical success factors (CSFs), market segmentation and value chain analysis, industry dynamics, market drivers, market restraints, key opportunities, technology and application outlook, country-level and regional analysis, competitive landscape, company market share analysis and key company profiles. In addition, businesses can gain insights into profit growth and sustainability programmer with this report. Business intelligence is an essential aspect when it comes to accomplish thorough and wide-ranging market insights and the same is applied for producing Plant-Based Meat market report.

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Plant-Based Meat Market Analysis and Size

Plant-based meat is becoming a more critical part of the vegan diet as more people switch to a vegetarian diet devoid of animal-based foods. Others are switching to veganism for ethical and health reasons, while some consumers choose vegetarian ingredients to prevent animal cruelty and to consume sustainable food and beverage products. In addition, people worldwide are choosing plant-derived alternatives to meat because of the environmental impact and ethical violations associated with animal husbandry and meat production. The retail food segment is the largest growing segment in plant-based meat. Similarly, the Chicken segment is the most demanded product for plant-based meat products.

Data Bridge Market Research analyses that the plant-based meat market, valued at USD 5.37 billion in 2022, will reach USD 16.55 billion by 2030, growing at a CAGR of 15.1% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Plant-based meat products are made to mimic properties found in natural meats and are considered to be meat substitutes. Plant-based products offer the consumer the main component in a more sustainable and environmentally friendly line than meat products. Using plants and other non-animal products makes them taste, look, and desire like meat. The main components of plant-based meat are soybeans, wheat berries, lentils, tofu, yuba, tempeh, and a spread of nuts.

Opportunities

The increasing vegetarian population has led to a shift in consumer preference
The ability of these products to mimic animal-based meat products is a significant factor driving the growth of the plant-based meat market. These goods, for instance, imitate the texture, flavor, aroma, and appearance of animal meat products. The plant-based meat alternatives have lower levels of saturated fat than ground beef and are a great source of fiber, iron, and folate. The plant-based meat substitutes are made of coconut oil, beet juice, and vegetable protein extract. In the upcoming years, it is anticipated that the popularity of the plant-based meat industry will increase due to the shift in consumer preferences toward meat alternatives made possible by the rise in the vegetarian population and the flexitarian diet.

Increase in consumers of vegan food

People are becoming more concerned about the environment, which is increasing the popularity of veganism. Farm animals like pigs, hens, cows, and goats contribute to the greenhouse effect through their upbringing and social structure. The increased demand for animal meat necessitates the excessive practice of animal farming. Thus, increasing the number of vegan food consumers eliminates the demand for extreme animal farming.

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