Dublin, March 05, 2025 (GLOBE NEWSWIRE) — The “Plant-Based Meat Market – Focused Insights 2025-2030” report has been added to ResearchAndMarkets.com’s offering.
The Plant-Based Meat Market was valued at USD 9.57 billion in 2024, and is projected to reach USD 21.81 billion by 2030, rising at a CAGR of 14.72%
The global plant-based meat market report consists of exclusive data on 36 vendors. The competitive scenario in the market is currently intensifying with global and domestic players offering a diverse range of products. Companies in this market are continuously innovating to develop better and new products. In terms of market share, a few of the major players are currently dominating the market.
Some companies that are currently dominating the market are Beyond Meat, Conagra, Hungry Planet, Impossible Foods, Kellanova, Maple Leaf Foods, Quorn Foods, Next Level, Tofurky & Tyson Foods. Major players are focusing on strategic agreements, acquisitions, and collaboration with emerging players to enter the market and gain access to commercially launched products.
Europe dominates the global plant-based meat market with the largest share in 2024. Europe, driven by strong consumer demand for sustainable and healthy food alternatives, has emerged as a leading region in the global transition toward plant-based diets. This growth is supported by the increased availability of plant-based products, innovative offerings, and partnerships with food service providers. The rising popularity of veganism and plant-based lifestyles in Europe is closely linked to ethical concerns, which have expanded the consumer base for plant-based meat.
Additionally, a growing segment of flexitarian consumers – those who primarily follow plant-based diets but occasionally consume animal products – has significantly boosted demand, particularly in urban areas where exposure to health and wellness trends is higher. Health-focused campaigns promoting reduced meat consumption for wellness reasons have further encouraged consumers to shift toward plant-based alternatives, solidifying Europe’s position as a key market for plant-based meat.
MARKET TRENDS & DRIVERS
Growing Demand For Clean Labeling
The demand for clean labeling in the plant-based meat market is a significant trend that reflects changing consumer preferences for transparency, health-conscious choices, and ethical food production. Clean labeling refers to products with simple, recognizable, and minimally processed ingredients, free from artificial additives, preservatives, and synthetic chemicals. This trend is not only reshaping the plant-based meat industry but also driving innovation and market growth globally.
In the US, the FDA’s evolving guidelines on plant-based food labeling stress the accurate representation of product ingredients, leading brands to adopt clearer labels. Consumers are willing to pay a premium for clean-label products, which contributes to higher revenues. Clean labeling helps build consumer trust, a critical factor for long-term market growth. Thus, the clean-label movement has spurred the market growth.
Growing Investments in Plant-Based Meat Market
The trend of growing investments in the plant-based meat market is a global phenomenon, reflecting increasing consumer demand for sustainable, ethical, and health-conscious food options. This trend is underpinned by technological advancements, shifting consumer preferences, and the global emphasis on sustainable food systems.
As per the report by Good Food Institute published in 2024, as of 2023, public funding for the alternative protein sector, encompassing both research and development (R&D) and commercialization initiatives, reached an all-time total of $1.67 billion. In 2023 alone, governments allocated $523 million, with $190 million directed toward R&D, $162 million for commercialization efforts, and $170 million for initiatives combining elements of both. This highlights the growing investment and commitment to advancing plant-based meat innovation and infrastructure. Increased funding enables companies to diversify their offerings, catering to various tastes, dietary preferences, and cuisines.
Concerns Over Animal Rights and Environment
Animal rights activists and organizations have played a key role in raising awareness about the treatment of animals in factory farms. The ethical implications of meat production, such as factory farming practices, animal confinement, and inhumane slaughter methods, are prompting many consumers to seek alternatives that do not involve animal exploitation. High-profile advocacy from organizations like PETA (People for the Ethical Treatment of Animals) and the Humane Society has pushed consumers toward plant-based diets.
The environmental consequences of traditional animal agriculture are becoming increasingly evident. Animal farming is a leading cause of environmental degradation, contributing to greenhouse gas emissions, deforestation, water pollution, and biodiversity loss. Consumers, especially among younger generations like Millennials and Gen Z, are more conscious of how their food choices align with their values.
INDUSTRY RESTRAINTS
Priced Higher Than Traditional Meat
Companies in the plant-based meat industry invest heavily in R&D to mimic the sensory attributes of traditional meat (taste, smell, mouthfeel, etc.). This includes costs related to experimenting with formulations, texture technology, and scaling innovative production techniques. Traditional meat production benefits from economies of scale, as the industry has been established for decades.
Plant-based meat, being a newer industry, lacks the same level of infrastructure and scalability, leading to higher per-unit production costs. Many consumers, particularly in developing countries or lower-income demographics, are price-sensitive and unable or unwilling to pay a premium for plant-based meat. Traditional meat, being cheaper, remains their preferred choice.
RECENT VENDOR ACTIVITIES
- In 2024, Beyond Meat, a leading plant-based meat company announced the launch of its new product line with the introduction of Beyond Sun Sausage.
- In 2024, The Kraft Heinz NotCo., a joint venture between The Kraft Heinz and TheNotCo., announced the launch of its first plant-based meat innovations: NotHotDogs and NotSausages.
KEY TAKEAWAYS
- By Product Type: The burger patties hold the largest market share of over 45%. The segmental growth is driven by consumer preferences for healthier, sustainable, and ethical food choices.
- By Meat Type: The chicken segment shows the highest growth of 16.79% as it is the most widely consumed meat globally due to its affordability, versatility, and cultural acceptance.
- By Source Type: The soy segment holds the largest market share due to its versatile, sustainable, and nutritionally rich sources of plant-based meat alternatives worldwide.
- By Storage segment: Shelf-stable plant-based meat products show the highest growth due to their convenience, versatility, and appeal to modern consumer lifestyles.
- By Distribution Channel: Supermarkets & hypermarkets hold the largest market share. The segment is growing as it offers an expansive and efficient network that ensures plant-based meat products are easily accessible to a broad and diverse consumer base.
- By Geography: Europe dominates the global plant-based meat market as consumer demand for sustainable and healthy food alternatives has become one of the leading regions in the global shift towards plant-based diets.
- Growth Factor: The global plant-based meat market is set to grow increasing consumer awareness and the rise of progressive protein choices.
KEY QUESTIONS ANSWERED
- How big is the global plant-based meat market?
- What is the growth rate of the global plant-based meat market?
- What are the factors driving the global plant-based meat market growth?
- Who are the major players in the global plant-based meat market?
- Which region dominates the global plant-based meat market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2024 – 2030 |
| Estimated Market Value (USD) in 2024 | $9.57 Billion |
| Forecasted Market Value (USD) by 2030 | $21.81 Billion |
| Compound Annual Growth Rate | 14.7% |
| Regions Covered | Global |
Key Vendors
- Beyond Meat
- Conagra
- Hungry Planet
- Impossible Foods
- Kellanova
- Maple Leaf Foods
- Next Level
- Quorn Foods
- Tofurky
- Tyson Foods
Other Prominent Vendors
- Abbot’s
- Cargill
- Daring
- Hilary’s
- LIVEKINDLY Collective
- Nestle
- No Evil Foods
- Rebellyous
- SIMULATE
- The Kraft-Heinz Company
- Before the Butcher
- Biolab
- Gold & Green
- Good Catch
- GoodDot
- Imagine Foods
- Lypid
- MyForest Foods
- Ocean Hugger Foods
- Plantcraft
- Roquette Freres
- SunFed
- The Vegetarian Butcher
- Trader Joe’s
- VBites
- Yves Veggie Cuisine
By Geography
- Europe
- Germany
- UK
- France
- Italy
- Netherlands
- Spain
- North America
- APAC
- Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- South Africa
- UAE
SEGMENTATION & FORECAST
- By Product Type
- Burger Patties
- Sausages
- Strips & Nuggets
- Meatballs
- Others
- By Meat Type
- Beef
- Chicken
- Pork
- Fish
- Others
- By Source Market
- By Storage
- Frozen
- Refrigerated
- Shelf Stable
- By Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Channel
- Others
For more information about this report visit https://www.researchandmarkets.com/r/57qb2f
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