Plant-based meat market size to grow by USD 12.53 billion from 2022 to 2027 | Albertsons Co. Inc, Beyond Meat Inc., Conagra Brands Inc. and more among the key companies in the market – Technavio

NEW YORK, Dec. 4, 2023 /PRNewswire/ — The plant-based meat market is forecasted to grow by USD 12.53 billion from 2022 to 2027. However, the growth momentum will accelerate at a CAGR of 26.1% during the forecast period, according to Technavio. Albertsons Co. Inc, Beyond Meat Inc., Conagra Brands Inc., Ecozone, Gathered Foods Corp., Green Monday, Hormel Foods Corp., Impossible Foods Inc., Jensen Meat Co., Kellogg Co, Kerry Group Plc, Kroger Co., Maple Leaf Foods Inc., Monde Nissin Corp., Nestle SA, New Wave Foods, The Kraft Heinz Co., The Tofurky Co. Inc., Tyson Foods Inc., and Unilever PLC. are some of the major market participants. To know about the vendor offerings, request a sample report.

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others – Buy the Report

Plant-based meat market 2023-2027: Scope

The plant-based meat market report also covers the following areas:

Porter’s five forces analysisCustomer landscapeMarket trends

Plant-based meat market 2023-2027: Drivers and challenges

The new product launches are notably driving the market growth. Due to the growing health awareness of consumers and environmental concerns, the demand for plant-based meat products is increasing. To meet the growing demand for plant-based meat products, vendors around the world are launching new products. Successful new product launches increase suppliers’ revenue streams and market share. One such new product launch includes two new iterations of its plant-based burger, with one version offering a more meaty experience and the other being a more nutritious version of its burger, by Beyond Meat. Such factors will drive market growth during the forecast period. 

However, increasing consumption of animal meat is a major challenge impeding the market growth. Consumption of meat such as pork, beef, and chicken is increasing in several countries such as the United States, China, India, and Russia. In quantitative terms, the US was the largest beef market in 2020. Beef consumption in the US grew significantly between 2019 and 2020. Quantitatively, chicken consumption increased by more than 2% in the United States and 1% in China in 2019-2020. Thus, increasing consumption of animal meat products will negatively affect the growth of the global market during the forecast period.

To know about other drivers and challenges – Download a sample now!

Plant-based meat market 2023-2027: Segmentation analysis

Foodservice System Outlook (USD Million, 2017 – 2027) FrozenRefrigeratedShelf-stableType Outlook (USD Million, 2017 – 2027) Plant-based beefPlant-based chickenPlant-based porkOthersRegion Outlook (USD Million, 2017 – 2027) North AmericaThe U.S.CanadaEurope The U.K.GermanyFranceRest of EuropeAPAC ChinaIndiaMiddle East & AfricaSaudi ArabiaSouth AfricaRest of the Middle East & AfricaSouth AmericaChileBrazilArgentina

Plant-based meat market 2023-2027: Segmentation highlights

The plant-based meat market share growth by the frozen segment will be significant. Frozen meat products offer nutritional benefits to consumers. Some vendors are also focusing on expanding their presence in the market by opening new production facilities for frozen meat products. Such expansions by vendors offering frozen meat may increase the sales of these products and drive market growth during the forecast period.North America is estimated to account for 41% of the growth of the global market during the forecast period. The region is growing owing to its health consciousness and growing concern about the environmental impacts of meat production. The increasing number of new product launches, investments, and the popularity of plant-based meat products among millennials will also drive the growth of the market in North America during the forecast period.

Plant-based meat market 2023-2027: Key Highlights

What are the key data covered in this plant-based meat market report?

CAGR of the market during the forecast periodDetailed information on factors that will drive the growth of the plant-based meat equipment market between 2023 and 2027Precise estimation of the size of the plant-based meat equipment market size and its contribution of the market in focus to the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the plant-based meat equipment market industry across APAC, North America, Europe, Middle East and Africa, and South AmericaThorough analysis of the market’s competitive landscape and detailed information about vendorsComprehensive analysis of factors that will challenge the growth of plant-based meat equipment market vendors

Gain instant access to 17,000+ market research reports. 
Technavio’s SUBSCRIPTION platform

Related Reports:

The plant-based burger patties market size is forecasted to increase by USD 2.13 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 41.1%.The camel meat market size is forecasted to increase by USD 74.5 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.26%.

TOC

Executive SummaryMarket LandscapeMarket SizingHistoric Market SizeFive Forces AnalysisMarket Segmentation by Foodservice Systemmarket Segmentation by TypeCustomer LandscapeGeographic LandscapeDrivers, Challenges, and TrendsCompany LandscapeCompany AnalysisAppendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports, covering 800 technologies spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/plant-based-meat-market-size-to-grow-by-usd-12-53-billion-from-2022-to-2027–albertsons-co-inc-beyond-meat-inc-conagra-brands-inc-and-more-among-the-key-companies-in-the-market—technavio-302003972.html

SOURCE Technavio